2d ago

23-year-old buys dream home for his parents

The Press

Diaclaimer: article from last month.

implosive_sprig @beehaw.org 2d ago
*23 year old pays the down payment on a million dollar home for his parents.
“House price $1,060,000. I’ve paid 20% down on it — all from my savings,” the real estate agent, who started his career after high school, said.
- passwordforgetter @lemmy.nz 2d ago
  Seems like they gave him the deposit too or maybe he won lottery or was the first bitcoin owner?
Dave @lemmy.nz 2d ago
He is 23 and started his career in real estate after high school, that means 5 years ago as COVID's initial wave was dying down, borrowing money was cheap, and people were suddenly alowed to move house again. I bet he made bank in that time!
- BaconWrappedEnigma @lemmy.nz 2d ago
  About $200k, after living expenses, from the sound of it! 😮
- passwordforgetter @lemmy.nz 2d ago
  Ya... but how much money do banks lend to teenagers in high school?
  
  Dave @lemmy.nz 2d ago
  
  When borrowing money is cheap, people start buying houses like crazy and running up their mortgages. It's not the teenager borrowing it's the people he was selling houses to.