Kamala and the Democrats will try to seize as much as they can from people that have done well. Its just part of their wealth redistribution platform…
This sentence says a lot…
It is more expensive for young people these days but some of those higher costs come from the fact that we’ve turned luxuries into necessities.
I don’t think it’s that much more expensive but a lot of those in their 20’s expect to have what it took their parents years to achieve. One problem is youngsters aren’t taught about money and personal finances or they ignore it. There’s no reason a 30 year old should be in debt and not have a nice chunk saved in retirement and other investments unless they’re very low income or make bad decisions.
In the past most people had a lot more job security than they have now and even when there were layoffs they were done be seniority so they felt as if there job was safe
Now there is a lot less job security and layoffs are usually determined by positions that will be eliminated instead of seniority. This creates a situation where people who have worked for a company for twenty years may get laid off while relatively new employees won’t.
This makes it more important to try to live below your means to save more but unfortunately a lot of people today live above their means
That came to be the norm with the rise of that management genius Jack Welch…when shareholders became the primary focus of companies. We made it to 1980 where companies actually gave a shit about their employees, but after the growth of shareholder value, employees were no longer considerd an asset, but instead they became a “resource” and a liability.
Not to get too picky, but how much did your first house that wasn’t in a slum cost you? Mine cost $92,000 but today sold for $400k. Factoring in inflation, that house SHOULD sell for about $225k. So some things are a little different for the 20 and 30 somethings.
I had my house when my parents passed, but today my kid may have to wait for me to die to get into a house
I paid $172,000 in '95, sold it in '03 for $285,000. I just checked Zillow and the estimate today is around $350,000 for that house. I also checked a mortgage calculator that said…To afford a $350,000 house, you typically need a combined gross annual income between $87,000 to $110,000 , depending on your financial situation, down payment, credit score, and current market conditions.
That’s less than what my wife and I were earning in 1996 dollars. My kid is 23 and could afford our first house based on his income and credit score.
Edited to add…a $350,000 home with $35,000 (10%) down at 6% interest for 30 years is $2,500 a month for PITI. That monthly payment would be $2,150 with 20% down. Two bedroom apartments in my area are over $2,000 a month.
The house next door to my childhood home on the North Shore of Long Island is currently on the market for 8.5 million dollars and it only has 100’ of frontage on Long Island Sound while my childhood home had 295’ of frontage on the Long Island Sound. In addition that house is significantly smaller than my childhood home. So I am assuming that my childhood home is currently worth a lot more than 8.5 million dollars. It is too bad that it is no longer in the family 
By way of contrast, my parents never owned their own home until i was in high school and my grandmother died. They bought the house from my dad’s brothers and were about to eventually replace the structure, which was worth essentially zero. My mom still lives there and at age 80, still has a mortgage.
I was able to buy a house for about 120 when i was 32 and it’s now paid off, worth maybe something.
A paid off mortgage is a nice feeling, even though you still have property taxes and insurance. My kids plan is to buy a duplex and live on one side and have the tenant pay the mortgage.
This is my grandfathers house in Orlando. He paid less than $10,000 for it
https://www.zillow.com/homes/818-Montana-St-Orlando,-FL-32803_rb/46188679_zpid/
According to your link that house sold for $105,000 in 2014. Something happened over the past ten years such as a major renovation, the neighborhood became more desirable or it’s in a good location.
Edited to add… Florida and especially Orlando have seen a lot of people moving there over the last few years, it’s supply and demand.