“Sibling Rivalry Exposed: Why One Woman’s Financial Success Sparks Unfair Family Favoritism!”
Of course, all of this assumes that you have some spare money lying around to help with a huge thing like a down payment in the first place.
This isn’t playing favorites. It’s being practical. Furthermore, if you have supported your other child through thick and thin before this, then they don’t have much reason to be upset.
The evidence that you love them lies in the fact that you’ve sacrificed your time, energy, nerves, and money to help them when they were in need before. It would only be favoritism if there was a long history of putting one person’s needs above the other’s.
Owning a new family home in the US is, on average, twice as expensive as 5 years ago
CNN reports that American households that wanted to afford a new single-family home, as well as pay property taxes and insurance costs needed to earn $107,700 per year in the third quarter of 2024. Just half a decade ago, in 2019, you’d need to earn ‘just’ $56,800 annually.
That’s nearly double the needed household income in 5 years. It’s no wonder that many young adults are demotivated about their chances to afford real estate.
Location matters a ton. If you’re living in San Jose, California, then you’re in the least affordable United States metro region where the median house price is a whopping $1.89 million and you need an income of $461,000 to afford a new home.
On the flip side, you only need to earn between $64,600 to $75,300 to buy a new home in Cleveland, Louisville, Detroit, and St. Louis in the Midwest. There is a huge difference in your purchasing power there compared to California.
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