“Should we be encouraging financially clueless newlyweds to spend money they don’t have on such a huge investment?”
I loved reading your article about things you would or wouldn’t change. I always think along these lines, and wish I could create more change in areas that I have no connections or power in. Many of the people who responded to this article are in a position to make these changes, and they should! They have fantastic ideas, and they see these issues from more of a bird’s-eye view. This doesn’t have to be theoretical! When I was a kid we used to get invited to Shabbos meals at a friend of my parents, someone who is very well connected in the frum world. He would go around the table presenting an issue, and asking everyone for their opinions and ideas on how to create change. I remember sitting there as a ten-year-old and thinking, wow, he’s really making me think! What a powerful opportunity! Even if we aren’t in a position to create change, we often know someone who is, and we can share our thoughts. And if we’re able to think out of the box and come up with a well-thought-out solution to a problem, it’s on us to do so.
R.M.
I was surprised by the advice the real estate agent interviewed gave, telling young couples to buy a house as soon as possible, even in an area they know they don’t want to live, just so they have this investment.
Should we be encouraging financially clueless newlyweds to spend money they don’t have on such a huge investment?
The agent commented that, “A lot of young people nowadays spend their money freely and waste it.” It reminds me of an article that went viral in which a writer accused millennials of being unable to afford to purchase property, as they were spending too much money on little indulgences like avocado toast. An article in response that also went viral argued that if you forwent an order of avocado toast three times a week and put that money toward a down payment, it would take 33 years to save up for a down payment for a median-priced house. So really, how much does young couples’ free spending contribute to them being unable to afford to buy a house? It’s the exorbitant cost that is pricing them out of the market.
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