I remember thinking in the mid 2000s, at some point a 1 bedroom condo in Hoboken cannot cost a million dollars. Eventually something has to give. But I have a lot of friends who bought townhomes and condos in their mid 20s because conventional wisdom as well as all of the wizards of smart said you're throwing money away renting.

Now these guys are dying paying two mortgages as you can't raise a family in a condo. Just happens. It was in the end the wrong advice. Luckily for me I was a regional pilot, the boom of the early and mid 00s past me over.

Now, I bought a home in 07, kind of at the peak but mine was a fixer upper as it had been owned by a rapper and lived in by his entourage. I could easily pay off the mortgage but I wouldn't have enough for a downpayment on anything comparable.