Home financing ever possible? Probably not!

Addendum: 30 years ago (God, I am old!) my parents were looking for a house to buy. It was a privilege for us that we could afford something like that. In hindsight, they bought a condominium because it fit better financially.

What I want to say is: Sometimes it helps to realize what a privilege a single-family house is and that it is not a given. And I consider the notion that the upper middle class cannot afford a house to be a rumor. Probably not a new build, but then you just look at the used market and have to do some work yourself. I have been doing that for 9 years as well...

My parents taught us the definition that "doing better than us" primarily means more time, more freedom to shape work. Old hippies. :) When I tell my family in the USA how much vacation and parental leave I have, it is unimaginable to them.

Yep. I also don’t think I’ll ever work full-time again unless I’m overly motivated to do so. Lifetime is the only thing in life that is truly limited, and no one knows their own balance. I doubt I’ll ever regret on my deathbed not having worked more.

Well, the difference compared to, for example, my parents' generation (built '83):
- Father sole earner as a simple technical employee (gross income before retirement '12 approx. 38k)
- Mother at home for over 15 years due to 3 children
- House paid off after 20-25 years
- House with a basement with approx. 200sqm living space

Today
- Sole earner is not enough, despite gross income of 75-80k
- House with less living space and without a basement
- Loan terms of over 35 years

Clearly, the technical standard today is significantly better, but so are the requirements set by laws. They also cost a lot of money; it was much easier in the past

It is simply a loss of prosperity with higher education and better income.

It is simply a loss of prosperity with higher education and better earnings.

But also missing is the increased demand that is placed today and that did not exist “back then” in the same way…

but the increased demand that is placed today is also missing, and which did not exist "back then" either…

and what exactly is the increased demand about?

When I compare myself with my parents, I unfortunately have to admit: they bought a new house with more square meters than we have, more land than we have, in a better location than us, and could afford it solely on my father's income despite being younger and having 5 children. We work full-time and 75-80% and have only 2 children (possibly soon 3). And my parents both did not attend university, unlike me. It is definitely not all just about today's demands.