How Young Couples Got a Good Financial Start
"Once upon a time, about, oh, seventy years ago..."
Yes, this is about past times, and for good reason. You've heard it said 'we learn from past mistakes' right? Well what about from past successes?
In the 1940s and 1950s (and, really, since time immemorial) newly married couples often lived with one set of parents or the other until they could build up a decent nest egg and go out on their own. But there was another way. They could move into an apartment and live in one of those, while they built up that nest egg.
How can that be? Rents for apartments run about the same money as mortgages for houses. Now are you ready to learn of a success in the past?
It was not always that way! Rents use to be a fraction of a mortgage payment. That's right. A fraction.
My family started out living with my grandmother (Grandfather had died two years before). Then they obtained an apartment in Delaware Township, Camden County, New Jersey. During this time, money was building in their bank account.
So what happened? You KNOW what happened, don't you? Apartment owners realized this. They wanted everybody's money! Greed.
Ah. Greed. A lesson of the past. GREED WORKS. Sigh.
Image Credit » Pixabay https://pixabay.com/photos/apartments-architecture-balconies-1845884/