If only you could buy a house 20 years ago.

As seen in The Oakland Press

August 2nd, 2026

If only you could buy a

house 20 years ago.

by Ken Morris

Our international visitors here for the World Cup clearly enjoyed their stay in the states. As individuals, when our guests leave a party or family gathering, we clean up and get our house in order. Now that our guests have left, as a nation, I believe it’s time to clean up our housing market. Owning a home is out of reach for so many. Especially young people and first-time buyers.

There’s a reason so many young adults live in the basement. Affordability is off the charts. I have no doubt that the majority of them want out, as do those who are stuck in rentals. unable to save enough for a down payment. High rents lower the chances of saving enough for that down payment.

Then there’s the actual cost of housing. There are plenty of people in their thirties and forties who would like to buy their first home, but today’s housing market makes it nearly impossible.

According to the Case-Shiller U.S. National Home Price Index, home prices rose nearly 40 percent between December 2020 and December 2025. In the 1980s, the average age of a first-time home buyer was in the late twenties. Currently, the age of first-time home buyers is in their forties.

In other words, the American dream of home ownership is drifting out of reach for far too many. Consider that, if first time home buyers are in their forties, there have been a lot of years of paying rent. And renters do not build home equity.

Over the years, building equity in a starter home has helped a lot of people establish a financial foundation. That enabled them to eventually move into a larger home as their families grew. A good strategy indeed.

If you’re a parent or grandparent and you have the financial wherewithal to help with a down payment, you might consider offering a helping hand to a young relative. While I encourage such assistance, I don’t recommend doing so if it means dipping into your retirement account or IRA. Not a good idea.

However, if you have monies in after-tax investments or an excessive amount of cash, assisting a family member may be viable. Based on my experience working with extended families, I suggest that, unless you ultimately want to be responsible, you keep your name off the title. Each spouse can gift up to $19,000, so gifting might be an option.

Loaning money is another option. But whatever route you decide, I strongly encourage documentation. Financial issues among family members are stressful. Documentation is also important in case there are issues of fairness or any other misunderstandings.

For many, owning a home may never happen. If you can assist a family member to become a homeowner, you’re doing them a great service. But only if you can truly afford it. I suggest discussing your circumstances with a financial advisor before offering to help a family member. If you decide to help, whether with a gift or loan, document it! Time has a way of clouding the memory. You don’t want to look back 20 years from now and not remember the details. Was it a loan or a gift? Write it down and date it, so there’s never any confusion later.