A couple in their 30s has stirred debate by disclosing that, despite earning more than $250,000 annually between them, they still cannot afford to purchase a home.
The cost of living crisis is affecting many. A top economist recently issued a dire prediction that could materialize within months.
Costs for everyday items and bills have skyrocketed.
One sector particularly impacted is the housing market, where home prices are now incredibly high.
There are numerous accounts of individuals with decent salaries struggling to enter the housing market.
Laura Graves and her husband Samuel are a case in point, raising their two children in a modest two-bedroom apartment.
Located in a Portland suburb, the couple believes they have no other options.
Both aged 36, they have been searching for a home for the past three years without success.
Speaking to Business Insider, Laura and Samuel expressed their intent to keep their monthly mortgage payments between $3,000 and $3,500.
This figure is around 30 percent of their combined monthly income, which is about $11,000.
Last year, the couple earned $250,000 from Laura’s position as a financial analyst and Samuel’s job as an electrician.
However, Laura told Business Insider that most homes they are interested in would require a monthly mortgage payment of at least $5,000.
Rather than overspending on an unaffordable home, the couple is currently paying $2,700 a month for their two-bedroom apartment and a storage unit.
They are hopeful that the housing market will become more favorable in the coming months, allowing them to finally buy a home within their budget.
Laura said: “We refuse to become ‘house-poor’ and, like many others, are choosing to sit it out until the housing market is reasonable again.”
She continued: “Our children have begun talking about how they want a house so badly and their own rooms. We’ll never get these years back. By the time we buy, we won’t even need room for a play set.”
Their situation has sparked online discussion, with one person commenting on Facebook: “My husband and I together make 100k and we can do it just fine. She must be trying to live beyond her means. We bought our home in 2022 and haven’t had any problems paying for our mortgage.”
Another person added: “I would say this couple is out of touch then because I make way less than that and I am buying my house.”