Wrap your head around this.
I’m a boomer and what I was paying for in 5 months for mortgage payments was the entire price of what my parents paid for a home.
My dad bought a 2,000 sf home in 1968 for $24K.
Sold it in 1991 for $215K. Hell of a return.
My parents purchased a 3 br 2 ba 2000 sq ft house for $19,000 in 1963. My first condo was 2 br 1 ba 880 sq ft for $36000 in May 1978. Sold the condo for $48k in 1983 for a 4 br 2 ba 1334 sq ft house for $108,000 @ 13.25% interest. Sold the last house in 2001 for $246k and purchased the current 3 br 2 1/2 ba 3900 sq ft house in Idaho for $179k. Fully paid off in 2003 via sale of company stock.
I graduated from UCSD at age 19 and headed to grad school at SDSU in the Fall of 1977. No student loan debt. The degree in Molecular Biology was not relevant to my early employment. Radio Shack $2.65/hr. Marine Electric Company start at $6.19, finish at $9.50. Marine Electric was my employer in the "condo" years. PacBell 1980 at $19k/year to start. Finished PacBell in 1991 at $60k/year. Not disclosing current employer or income. Suffice to say, just being a "boomer" was no party. It took years to improve annual income and quality of housing.