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My wife and I both graduated from college in 2008, with a lot of student loan debt. That was a bad time time to graduate. We both took relatively low salaries a
by mackey 7y ago
My wife and I both graduated from college in 2008, with a lot of student loan debt. That was a bad time time to graduate. We both took relatively low salaries and wages increases were nonexistent for a few years. Combine this will living in an already expensive market, and it was definitely difficult to save up enough to buy a house. We bought two years ago, in a city with a median home value of 580K and high property tax. My wife still pays ~1000 a month in student loans. We are trying to start a family, so we need to think about day care at some point. Student loans + daycare + mortgage is a lot. I feel incredibly blessed and lucky that we both have good salaries and very healthy savings.
- quaquaqua1 7y agoSimple solution here is to not have kids and not have a house until you pay off the student loans. It's like saying "Ahhh you see I want a Ferrari, a mansion, and a honeymoon but I can't find a way to finance all three"
- LarryDarrell 7y agoI feel like a system that discourages young, healthy and educated citizens to not have children until they are much older... is screwed up. Especially since many of those with student loans are not finding jobs that would pay them off before the end of their child bearing years.
- quaquaqua1 7y agoSure, I agree the system is broken, but I am not sure if that will ever change, even if you attempt to organize some type of violent revolution. As a result, you can only make the rational choices offered to you by the system, despite the system being deeply irrational. That's why my gf and I rent a small place with the best roommates we can find, we don't have plans for kids, and we paid off student loans as quickly as possible and continue trying to increase our earning potential in tech
- snegu 7y agoSo don't have kids until you're fifty. Good plan!
- quaquaqua1 7y agoThis is the only rational choice offered by the current system, unless the odds of winning lottery ever change
- CalRobert 7y agoYou forget that changing system is an option. There are other countries and too few people consider emigration. Combined with remote work it enables a lot of interesting options for people in tech; I wound up with a tiny house for under $100k. It's not where I plan to be forever, but it means that I've got something so cheap I can afford to move somewhere else for a while (if desired) and keep this as a home base, so to speak.
- CalRobert 7y agoThere are many people who still have student loans when they hit maternal ages which increase the risk of numerous problems for the offspring, like Autism Spectrum Disorder, Downs, or just miscarrying.
- hurxnid 7y agoSo basically wait until you are infertile.
- quaquaqua1 7y agoWhat actually is happening in the real world is people are either not having children, or, leaving them with grandma for child care, or, choosing a much older and richer husband
- mackey 7y agoWe definitely are getting a later start than we had hoped because of these issues.