DEAR SOMEONE ELSE’S MOM: I remember things were tough for my husband and me when we first started out back in the late ‘80s, early ‘90s. We both had reasonably well-paying jobs, no kids yet, and still barely made it from month-to-month.
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I see the same thing happening with our son and daughter-in-law. They have one child, two full-time careers (he’s in HR, she’s in retail management) and they are still renting a two-bedroom townhouse.
They have been looking to buy their first home, but between the prices being asked and the crazy-high interest rates and property taxes, they say they can’t afford anything within a 30-mile radius of where they work and have their son in daycare.
I feel for them and am even sadder because they told us they are not planning on having any other children because they just can’t afford it. Both of them come from larger than average families, and they had hoped to have at least three or four of their own. They say they can either work to afford a home OR more children, but they don’t see how they can do both.
What can we say to them to encourage them to not give up on their plans for more children AND a home of their own? --- NOT EASY FOR YOUNG PEOPLE
DEAR NOT EASY FOR YOUNG PEOPLE: I’ve been hearing too many similar stories of other young couples finding themselves in circumstances like your son and daughter-in-law.
It isn’t an easy time for many of them, but that’s nothing new. You mentioned how you and your husband started out during the late 1980s-early 1990s, when real estate, always touted as a sure thing, was anything but. Fortunately, the economy improved, and many dreams that were delayed were eventually able to flourish.
You and your husband have been around long enough to know there are certain waves that we just have to ride out. Some are better than others.
I’d remind the young couple to not give up hope just yet. They’ll most likely still have to compromise in the years to come, but a larger family and a home of their own may not be entirely out of their reach.