So let's assume something like $25k for first job. That would be $200k now after the 8x. Poverty line in SF right now is $82k, so depending on where you live, $200k isn't that much.
Especially in places like Washington state, where the latest stats tell us you need an income of $150K to even consider buying a home (averaged across the state).
It depends on what you want out of retirement. If you are making 200k in a high cost of area, your home will be worth several million.
That's where the retirement money went. If you expect to be able to die without tapping the retirement account, you will have a problem. You need a reverse mortgage or to sell out and go back to renting.
I think that is over-stated. Much of it depends on the home people want, how long they will save, and commute distance acceptable. At 200k, it isnt that people can't buy a house, it is that they dont like what they can afford.
You cant afford a downtown penthouse/mansion on SF & NY with 200k, but you can absolutely buy a home in both locations.
