To be fair, buying fresh out of college has never been that realistic. The more interesting question to me is, if I can maintain my current spending under future raises (and shovel the difference into an investment account), will I come within striking range in a decade or so?
The answer is, I could come within striking range of a 20% down-payment on current prices, but once I factor in 1) the 10-15%/year price increase every year, and 2) the 10-15%/year rent increase chipping away at what I can save, it's hopeless.
I'm kind of thinking about investing (part of) this fund in REITs, so that I have exposure to the same growth I'm trying to compete with. However, this precludes the only truly winning scenario (I have a lot of cash available during a housing market crash).
The answer is, I could come within striking range of a 20% down-payment on current prices, but once I factor in 1) the 10-15%/year price increase every year, and 2) the 10-15%/year rent increase chipping away at what I can save, it's hopeless.
I'm kind of thinking about investing (part of) this fund in REITs, so that I have exposure to the same growth I'm trying to compete with. However, this precludes the only truly winning scenario (I have a lot of cash available during a housing market crash).