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Let's say an 18 year old moves out and starts renting
The average rent in US is 1.5k
30 years of payment is 540k
When that person is 48, they would have paid 540k in rent expenses
This is assuming that rent doesn't increase
Throwing 600k out the window before you're even 50 is not a recipe for success
76 is US average life expectancy. That's ~25 more years of rent.
If they retire at 63. 13 years of 1.5k a month rent is 234k. They need a quarter million in retirement funds just for rent to live up until 76.
45 years of working for that 18 year old would need to make ~750k.
That's 16.5k a year just to pay for rent
Again this is assuming rent never goes up.
That's 8 dollars an hour 40 hours a week every week.
10% more than minimum wage, just for rent.
It's crazy
And this assumes you die and don't have to rent after the age of 76