Nice anecdata and all but I bought in 2020 and my place has almost doubled in value already. It’s a run of the mill condo.
The (already high) rent prices have also approximately doubled over the same time span.
Buying in early 2020 was the difference between me easily living here and likely having to move to a cheaper area of the country.
And I’m a debt-free, child-free elder millennial who has a large salary and whose parents paid for my college.
The problem isn’t that they aren’t scraping together enough of their $30k a year to save due to buying too many bon bons, it’s that they gross $30k a year and $15-20k of their net goes to the landlord.