February 27 2024- The affordability of homeownership is becoming a challenge for many families, particularly those with children who face high childcare costs. In a discussion led by a colleague, the focus is on the economic division among parents, emphasizing the impact of childcare expenses on families’ ability to achieve financial goals such as home ownership. The term “DIPS” (Double Income, Public School) is introduced, highlighting that parents with kids old enough for public school might find relief from the financial burden of daycare payments. The article points out that the American Dream of homeownership may be more achievable for DINKS (Double Income, No Kids) due to the significant costs associated with childcare, as revealed by Zillow’s findings in various metropolitan areas, where families could spend over 60% of their income on mortgage and childcare costs.
