, Columnist
The Case for Buying a House With Your Best Friend
Joining forces with trusted pals makes sense for people who can’t come up with the funds independently.
Time to think outside the box.
Photographer: Joe Lamberti/Bloomberg
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Aspiring millennial and Gen Z homeowners have spent the last few years watching their purchasing power erode. Prospective buyers felt they did everything right in saving for a home, only to watch interest rates, inflation and housing supply all conspire to freeze them out.
The median price of a house in the first quarter of 2020 was $329,000. Four years later, the median is almost $100,000 higher, according to an analysis by the Federal Reserve Bank of St. Louis.