There’s a question I hear from parents all the time lately: “How are my kids ever going to be able to buy a home?”
For quite a while, I found myself nodding along, sympathizing with how they were feeling and even wondering the same for my own kids!
I understood the concern. I still do. Home prices in Cache Valley have climbed dramatically. Interest rates are higher than they were a few years ago. Rent, groceries, cars, insurance—nearly everything costs more. For young adults just beginning careers and families, finding extra money to save can feel nearly impossible.
So when parents asked me that question, I sympathized. But lately, something has changed in the way I answer it. Because from where I sit as a mortgage broker, I get a unique view of what’s actually happening.
Their kids ARE buying homes.
Not all of them, of course. And I certainly don’t want to minimize how difficult it can be. But I keep meeting young people who have decided they want to own a home badly enough that they’re willing to do some pretty hard things to make it happen.
They’re working overtime and taking second jobs. They’re living at home a little longer. They’re driving the old car instead of financing the new one. They’re paying down debt. They’re skipping some things their friends aren’t skipping. They’re saving $50 or $100 at a time when saving anything is difficult.
They’re being creative. They’re being disciplined. And perhaps most importantly, they’re being patient.
I’ve watched young buyers purchase homes that weren’t necessarily their dream homes. They’ve bought something smaller, older or less glamorous than they originally imagined. Some have had roommates help with expenses. Some have spent months getting their finances in order before they were ready.
And they’re doing it! That has changed my perspective.
Maybe the question isn’t simply, “Can young people still afford to buy a home?” Maybe another question is worth asking: “What are the young people who ARE buying homes doing differently?”
I think the answer often comes down to something we sometimes forget in a world that expects things quickly: sacrifice, discipline, resourcefulness and good old-fashioned hard work.
That doesn’t mean everyone can buy a home today. For some, the answer really is, “Not yet.” There may be debt to eliminate, money to save, credit to improve or income to increase.
But “not yet” is very different from “never.” And that may be the message our kids need from us.
Yes, the housing market is difficult. Yes, previous generations faced a different set of circumstances. We should acknowledge that. But we should also be careful about convincing the next generation that homeownership is impossible before they’ve even tried. Because every month, I sit across the desk from young people who are proving otherwise.
They’re working. They’re sacrificing. They’re figuring it out.
And years from now, I suspect many of them will look back and realize that one of the best financial decisions they ever made started with simply refusing to believe that hard meant impossible.
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