>>And yet there are some young people who are actually doing it. We just sold our house to a young couple in their late 20's. They have A+ credit and the deal is about to close.
Not sure of house prices in Akron, but in some places this would be almost unheard of unless you inherit wealth or win the lottery.
/update/ - apparently median house price in Akron is $60,800. I'm sure you have a much nicer place but even so, yep- a couple in their 20s who got through college without an extra mortgage each or if one of them is a decent tradesman who started earning at 16 and worked hard without being saddled with a college debt, should be able to stretch to this.
http://www.zillow.com/akron-oh/home-values/This is something that will come as a surprise to some Europeans and Australasians: once you step outside Beverly Hills, Malibu, Manhattan etc etc there truly are OK places you can buy for $50K even in US cities of a million plus. We're not used to that.
"... They ne'er cared for us
yet: suffer us to famish, and their store-houses
crammed with grain; make edicts for usury, to
support usurers; repeal daily any wholesome act
established against the rich, and provide more
piercing statutes daily, to chain up and restrain
the poor. If the wars eat us not up, they will; and
there's all the love they bear us."
-- Shakespeare: Coriolanus, Act 1, scene 1
