In a simiar boat re: housing in the NE. Renting for now / next 2-3 years. You see houses built in 1955 going for $1.5M, you see people forgoing home inspections to just buy at inflated values, you see banks not underwriting to the full home value in some cases ($1M house, put down 20%, bank says it's actually only worth $800K, you need to cough up an added 20%/$160K on top of that to get the mortgage). All is to say it's terrible out there... I don't know how people are affording it aside from their boomer parents buying a home for them.
In a simiar boat re: housing in the NE. Renting for now / next 2-3 years. You see houses built in 1955 going for $1.5M, you see people forgoing home inspections to just buy at inflated values, you see banks not underwriting to the full home value in some cases ($1M house, put down 20%, bank says it's actually only worth $800K, you need to cough up an added 20%/$160K on top of that to get the mortgage). All is to say it's terrible out there... I don't know how people are affording it aside from their boomer parents buying a home for them.