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Your conclusions are pretty much on target for the USA, Frank. One exception being that interest rates for homes are now quite low. But one still has to be able to make large payments, especially in coastal urban areas, because the price is so high - over $500K in very many places. So yeah, a just married couple CAN buy a home, IF they are both professionals and each earn more than $100K/year. But a couple making $15/hr each working 40 hrs per week will bring in a little over $5K/month combined. And it might not include medical insurance. Rent for a one bedroom aptm. in the San Fernando Valley, according to a friend, was $1800/month, utilities separate. And each may require a car to hold a job. So two car insurance bills in addition to the car loans. It will be a good while before this couple will think of having a child.

A lot depends on where you live. The above couple, if living in Mountain  Home AR would likely be able to find a residence, perhaps outside city limits, for under $1000/mo. But they are much more liable to lose everything in a house fire. There is a huge difference between having a Class I Fire Department and relying on the local volunteer fire department. But, if they take those risks, they may be able to purchase a three bedroom, 1&3/4 bath house. They may be able to get one or both vehicles paid off. And they definitely can send their children to the pretty good Mtn Home Schools. But they are still stuck with a 2&1/2hr drive to get to a city of any size with the accompanying cultural amenities.

Blue state/red state.


"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Wed May 12th, 2021 at 03:19:57 AM EST
That's not rent for a 1 bedroom apartment, that's rent for 1 bedroom in a shared house.
by Zwackus on Fri May 14th, 2021 at 04:04:19 AM EST
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My information was from my friend Shervin Khazra who was searching for an apartment for a relative in the SFV and is a few years old.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Fri May 14th, 2021 at 04:04:13 PM EST
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The median house price in Denver is $500,000. It's not just the coasts.
by asdf on Sat May 15th, 2021 at 05:42:36 PM EST
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