But it's a timing thing. I know lots of people who own apartments in Manhattan, and even more in Brooklyn and Queens. It's an age thing. If you're 25-30, even

But it's a timing thing. I know lots of people who own apartments in Manhattan, and even more in Brooklyn and Queens. It's an age thing. If you're 25-30, even a hotshot dev making 150-200 or more, it takes a little while to save up for a down payment. Not even taking into consideration student loan debts, etc. Let's be clear, you'll have no problem affording a mortgage on a 1 bed or a large studio in a tolerable neighborhood in Manhattan at that salary, probably even today. It's the down payment that's the issue. But it's also timing. Asset prices have gotten so high, especially given that almost everything is leveraged at a low interest rate, things are inflated for someone starting their real estate ladder climb. 4-5 years ago things were a lot easier. Also expecting to live in the absolute prime areas is folly, of course people from all over the country and world want to live in the East Village or Chelsea or whatnot. No one wanted to live in LES, now they do and the prices have approached luxury territory there too now. And so it goes. I purchased a place in a gentrifying part of Brooklyn, because I was priced out of places that had just gentrified that were a little better. 10 years ago I'd have purchased in Manhattan, but 10 years ago I didn't have the down payment required. There's a lot more to it than the 'trust fund and mommy and daddy' narrative. There's a treadmill of price appreciation that seems to spill over from one neighborhood to the next.