In UTC you might be able to buy a 3 br condo, rent out each bedroom to other students, then rent the living room to another student, then live in a tent in the backyard and maybe get some cash flow :D (BTW, I think there's a law in san diego that you can have a max of 4 unrelated adults living in one house.

@Ricky S , Scott's book is called Set for Life: Dominate Life, Money and the American Dream

I might barely be a legal adult, but I am and always have been a hard worker, very money motivated, and business oriented. 

If you buy through him you will lose money and add a lot of anger and frustration to your life. 100% guaranteed he will be the subject of a future episode of American Greed.

The American small business landscape is strewn with carcasses of dead and dying small businesses that were started by people who did not plan before moving forward. 

Also, most Americans fall into this trap so don't feel bad. 

Dont forget this is all tracked data... for instance at anytime what the savings rate is, is known and what the average american has in the bank account, say in CA for instance, would be absolutely insuffient to meet a 3.5% down payment, less 30% on a $700,000 property in LA.If almost 70% of transactions is financed, and financing relies on a qualifying income, which is currently half below where it should be (what is required), the question is not if there will be a problem. 

Ours was about $135 per sq. foot, which is lower than anything currently on the market in our area (American Fork).

It reminds me of something my parents would say when they know i'm about to make a bad purchase as a young adult. 

Google "Lifetime Learning Credit" and "American Opportunity"