It’s a funny thing - or maybe it’s not so funny, after all.
But a lot of homes are financed, at least in part, by The Bank of Mom & Dad.
Sssh! We’re not supposed to know that.
Somehow all those shows on HGTV seem to leave that part out. They do, however, show you plenty of 22 year-old, first-time homebuyers with a budget of only $1.8 Mil or so struggling to find a starter property they can actually move into.
Of course, that $1.8 Mil doesn’t take any remodeling expenses or necessary repairs into account though. I mean, you can’t expect them to live without having a maid’s quarters. Or an in-home bowling alley. They have STANDARDS, after all.
And if you’ve noticed, none of those shows give out much information as to what those 22 year-old’s do for a living either and how it comes to be they actually have a budget just south of a million dollars to begin with.Then again, they might just all be Canadian drug dealers.
You never know.PS: I have it on good authority that the house in the pic below is typical of those “starter homes” chosen by said Canadian Drug Dealers.
How I feed after watching yet another exciting episode of HGTV.
“How do you start a life these days?” the old timer was saying at Bagel Plaza the other morning in my hometown of Merrick, New York.
“You can’t afford to live anywhere.”
He’s talking about his daughter and son-in-law, whom he’s in the process of helping buy their first home. The houses are now turning over rapidly in my neighborhood.
You have to show up with cash in a lot of cases…
*Feature photo by Vita Vilcina on Unsplash