Older millenial here.

Max I ever spent on renting was 25% of my net income, but usually it was more like 20%. Now I actually spend only 10% of my net income on my mortgage, thanks to inflation helping my income while keeping the mortgage static.

(Sure there are also taxes on top of the mortgage, but I'm also building equity. Taxes + interest is even less than 10%)

Younger generations are definitely getting screwed.

Don't accept the status quo.

I was paying 400 for one bedroom in 2000. Now my apartment is 1800 which is about 60% of my income. The future is bullshit

33% of your income is still too fucking much for rent

I just read a really good article about why Tokyo, one of the biggest cities in the world, is also one of the most affordable for housing and pretty much everything else. Spoiler, they don't allow boomer nimbyism and they absolutely do allow a shitload of apartment building pretty much everywhere.

I make ~$1,500-$1,600 every two weeks (varies based on OT). My rent for a small one bedroom is $1,200 (utilities included). Other apartments in my town are easily $1,700+ for a barebones similar place, no utilities included.

As much as I pay for how small my place is, I still have it good compared to others in town. Other apartments I've seen have a miniscule kitchen, the only thing keeping them from being kitchenettes are the full sized appliances. I have a decently sized one for the size of my apartment.

I hate it here.

No, I sure as fuck do not. I bet it would've been nice though.

I recently had an exhaustive back and forth with a status quo warrior that said actually the poorest workers in the United States were spoiled and rich actually because the GDP was so dazzlingly high compared to other countries.

That was it. That was the entire basis of that smug asshole's argument. Rent and healthcare costs don't real. Rejoice, you ungrateful poors.

Mid 30s millennial here, no. I remember I could afford a 1 bedroom on my own making minimum wage in my home town, but it was something like 50% of my take-home at the time.

2/3 on my mortgage. Yay.

With any luck my income will continue to grow and this will change in the next few years.

And I’m feeling better and better about buying even if the timing was at the peak last year.

Best I can do is 50%

Huh, I only spend 25%. But then again, I rent from municipality owned housing in Sweden.

Until a decade ago, the rule of thumb was never spend more than 20% of your salary on rent. Then it changed to 25%. Now everyone's saying 33% like there's some sort of thought behind that number other than "We want more of your money"...

Nope! All of my rent (save for when I didn't pay for it) had always been higher than 1/3.

And I'm pretty sure that was a regulation out by governments to prevent landlords from overwhelming.

Gotta love that low wage loophole!

No

The maoist uprising against the landlords was the largest and most comprehensive proletarian revolution in history, and led to almost totally-equal redistribution of land among the peasantry.