The New York Times really had the audacity to publish a piece last week titled, “How a Scratch-Off Lottery Ticket Helped Me Become a Homeowner at 22”. Spoiler alert: winning the lottery helps you pay for things you want, crazy I know. But this story is also a good window into the current state of the housing market in this country.
The subject of the story, a young woman named Sydney Bean, won a $50,000 scratch off ticket and took home about $37,000 that went directly into a down payment for a home. Ms. Bean wasn’t looking for anything lavish, she found a home that she loved and went all in on it. Mind you reader, the house in question is 100 years old and about 700 square feet, located in Idaho, this really isn’t some palace in the hills.
It often feels impossible for the majority of people in their 20’s and early 30’s to become homeowners. The cost of living has become far too high and it can be difficult for young people to get ahead no matter how hard they work and try to save. If Ms. Bean hadn’t won the money, it would have likely taken her years to buy a house. This is America, where anyone can buy a small house, as long as they win the lottery first.
Side Items
Philly Express: An elevated section of Interstate 95 collapsed early yesterday in Philadelphia after a tanker truck carrying flammable cargo caught fire, closing one of the most heavily traveled sections of the East Coast’s main north-south highway indefinitely. Transportation officials warned of extensive delays and street closures and asked drivers to avoid the area in the city’s northeast corner. Gotta love when one of the main arteries of transportation just spontaneously crumbles. I wonder how many other American bridges, tunnels, and highways are on the verge of collapse?
Berlusconi Dies: Italy’s longest serving prime minister finally took the hint yesterday and passed away. Silvio Berlusconi was many things, mostly disgusting and hateful, but now he’s just one thing: dead
Anatomy of a Wildfire: This article investigates a 2013 wildfire where a hunter set a campfire that escaped and grew into a devastating disaster. The author spoke with prosecutors, park rangers, ranchers, and even the hunter in question, after years of searching. The end result is worth a read