Anyone else who will likely never be a home owner?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Mid thirties couple here with no way forward regarding buying a home. I feel sad knowing I won’t be able to have a home to call my own and decorate and build a family in.

Anyone else in this boat?

No. You two had at minimum 10 years to live in a condo/townhouse (possible with roommates) and pay down the mortgage. Then take out the equity and buy something bigger. Since you don't seem to have done that, take the money you invested while renting all those years (Usually renting is cheaper than owning, so the difference you invested). You did that, right? If you live in DMV you have known for a long time that it is expensive to live here.
If no,t you two need to move into a studio and both work 1.5 jobs to save up for a townhouse somewhere outside of the city. Within a few years when the interest rates go down again, you should be ready to buy. Get a roommate if you do buy a townhouse or a house.

This. The pp had years to live frugally and save for home ownership. If you suddenly look up at age 33 and wonder why you don't own a home, then that's on you.

So hard to imagine that many people in an area known for highky edicared transplants didn't grow up here, didn't live with mom and dad, or spent their savings or had low incomes in their 20s due to higher education. I know TONS of people who weren't able to save for a down payment at the rate prices were increasing in their 20s.

Lots of us did it without family to live with or to give us money. We lived with roommates in crappy rentals and saved money to buy a dated home in a tier 2 or 3 area. You also need to be careful taking on student loans. If that exclusive school is going to saddle you with debt but not a high salary, then you can't afford it. You also can't afford the prestigious but low-paying career. I have no sympathy for people who indulged their egos instead of being financially responsible.

Don't try to live the trust fund lifestyle without a trust fund then come complaining.

+10000. We are relatively high earners and had to make sacrifices for that first down payment. We spent a year or so not going on any vacations, we skipped out on some weddings, didn’t even have iPhones and got by with one older car. The friends we have who have not yet bought a house are all unable to make these kind of sacrifices. Now they are in their 30s and it will be more obvious that they missed the boat.

Wow, you spent a whole year without going on vacations? You didn't even have iPhones?? I'm impressed you were able to make those kinds of sacrifices.

Sacrifices? Right, this is DCUM. Sacrifices are when you live in a one bedroom apartment with two kids so that you can send a large part of your money to your home country to support poverty stricken relatives. Perspective, please.

That’s fine. But everyone I know who can’t or hasn’t bought a home goes on a good number of vacations, has an iPhone and spends money on other things that are a waste. They are unwilling to make short term sacrifices for a longer term gain. They think the $200 monthly cable bill isn’t much but don’t realize it’s everything together that adds up to a meaningful amount of money. They are too good for cutting cable, skipping out on a guys trip etc.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Mid thirties couple here with no way forward regarding buying a home. I feel sad knowing I won’t be able to have a home to call my own and decorate and build a family in.

Anyone else in this boat?

No. You two had at minimum 10 years to live in a condo/townhouse (possible with roommates) and pay down the mortgage. Then take out the equity and buy something bigger. Since you don't seem to have done that, take the money you invested while renting all those years (Usually renting is cheaper than owning, so the difference you invested). You did that, right? If you live in DMV you have known for a long time that it is expensive to live here.
If no,t you two need to move into a studio and both work 1.5 jobs to save up for a townhouse somewhere outside of the city. Within a few years when the interest rates go down again, you should be ready to buy. Get a roommate if you do buy a townhouse or a house.

This. The pp had years to live frugally and save for home ownership. If you suddenly look up at age 33 and wonder why you don't own a home, then that's on you.

So hard to imagine that many people in an area known for highky edicared transplants didn't grow up here, didn't live with mom and dad, or spent their savings or had low incomes in their 20s due to higher education. I know TONS of people who weren't able to save for a down payment at the rate prices were increasing in their 20s.

Lots of us did it without family to live with or to give us money. We lived with roommates in crappy rentals and saved money to buy a dated home in a tier 2 or 3 area. You also need to be careful taking on student loans. If that exclusive school is going to saddle you with debt but not a high salary, then you can't afford it. You also can't afford the prestigious but low-paying career. I have no sympathy for people who indulged their egos instead of being financially responsible.

Don't try to live the trust fund lifestyle without a trust fund then come complaining.

+10000. We are relatively high earners and had to make sacrifices for that first down payment. We spent a year or so not going on any vacations, we skipped out on some weddings, didn’t even have iPhones and got by with one older car. The friends we have who have not yet bought a house are all unable to make these kind of sacrifices. Now they are in their 30s and it will be more obvious that they missed the boat.

Wow, you spent a whole year without going on vacations? You didn't even have iPhones?? I'm impressed you were able to make those kinds of sacrifices.

Sacrifices? Right, this is DCUM. Sacrifices are when you live in a one bedroom apartment with two kids so that you can send a large part of your money to your home country to support poverty stricken relatives. Perspective, please.

That’s fine. But everyone I know who can’t or hasn’t bought a home goes on a good number of vacations, has an iPhone and spends money on other things that are a waste. They are unwilling to make short term sacrifices for a longer term gain. They think the $200 monthly cable bill isn’t much but don’t realize it’s everything together that adds up to a meaningful amount of money. They are too good for cutting cable, skipping out on a guys trip etc.

I'm sure they don't "cut" coupons either, and they get takeout and go out for dinner too, because that's what everyone does.

[Anonymous]

What’s with the focus on iPhones? I mean, I agree you need to make smart financial choices/make sacrifices to be able to afford a home but iPhones are getting mentioned as a signal of frivolous spending to a bit of an amusing degree.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We spent our 20s in school, with very low-paying jobs, and saved enough to pay for a downpayment on a home when I turned 30.

We lived VERY frugally to achieve this, given our low incomes. We picked up free furniture left in the trashroom by other residents, bought cheap food on sale, cooked from scratch, never ate out or went to the movies or paid for any sort of entertainment, lived in a crappy one-bedroom (with one, then two kids)...

Most people on DCUM can't even imagine living such a frugal life.

And now we're living a middle class life.

But it took 10 years of lean, lean living to get there. And even now, we budget carefully.

I can relate, as I'm an immigrant and frugal living was a normal for me and my family. Thanks to an extremely frugal mindset and hard work, I own a home that is paid off, worth $1.1 mln; and I'm 45 years old. I don't get all these people, who can't afford a home. Like what the heck were you doing all your life when you're young? You had no savings, no part time jobs? Sorry, but I don't feel sorry for all people with college debt either. You should have gone to community, then transfer to the closest in-state university. That would be much cheaper for you, while you were working of course.

+1. I went to community college and transferred to UVA where my tuition was 11,000 for two years. All in with books snd room and board my student loans were under 40k for a great education. Then I went to work, paid them off, and lived a frugal lifestyle. All my clothes are from the thrift for example, and I drive a ‘97 civic (no it’s not a beater, paint still looks crisp because I garage it). All of my extra money went into rental property. I’m not mega rich, but I own multiple homes.

+2 Or even go to state schools for 4 years. I'm so sick of the snobs on this board who brag about their exclusive schools that are crushing them in debt and never netted them a high-paying job. They made bad financial decisions and now they can't afford to buy a home, because of course any home has to be in the "right" area. I don't feel sorry for them either, and I say this as someone who owned homes in coveted areas plus a beach house. I made choices to get there.

+3 Arlington's Missing Middle Housing is designed for these people. The ringleader got a PhD in history and works for a non-profit and whines that she can only afford to buy a house in Arlington is someone builds a triplex for her on an expensive piece of land in North Arlington. I am a Gen Xer and bought my first condo at 23 with an FHA loan and $5,000 I saved after paying off $35,000 in student loans -- the rest of my engineering school education was paid through work study and scholarships. I moved up the ladder and we have a very nice home in Arlington. I resent the heck out of the people who tell me that I a a racist, privileged white person (when they are also white and more privileged than I am) who is not entitled to have a 1940s colonial in North Arlington because I got a degree in something that would allow me to live in Arlington, send my kids to decent schools, and have my DH do all the work to our home.

Too bad that you thought your youth was for living la dolce via rather than preparing yourself for the responsibilities of adulthood.

+1 This is exactly the problem. Expensive education in a low-paying field + prestigious nonprofit job is for trust funds kids. She chose to fund her ego instead of buying a home but thinks she's too good to move to Manassas or Hyattsville.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We spent our 20s in school, with very low-paying jobs, and saved enough to pay for a downpayment on a home when I turned 30.

We lived VERY frugally to achieve this, given our low incomes. We picked up free furniture left in the trashroom by other residents, bought cheap food on sale, cooked from scratch, never ate out or went to the movies or paid for any sort of entertainment, lived in a crappy one-bedroom (with one, then two kids)...

Most people on DCUM can't even imagine living such a frugal life.

And now we're living a middle class life.

But it took 10 years of lean, lean living to get there. And even now, we budget carefully.

I can relate, as I'm an immigrant and frugal living was a normal for me and my family. Thanks to an extremely frugal mindset and hard work, I own a home that is paid off, worth $1.1 mln; and I'm 45 years old. I don't get all these people, who can't afford a home. Like what the heck were you doing all your life when you're young? You had no savings, no part time jobs? Sorry, but I don't feel sorry for all people with college debt either. You should have gone to community, then transfer to the closest in-state university. That would be much cheaper for you, while you were working of course.

+1. I went to community college and transferred to UVA where my tuition was 11,000 for two years. All in with books snd room and board my student loans were under 40k for a great education. Then I went to work, paid them off, and lived a frugal lifestyle. All my clothes are from the thrift for example, and I drive a ‘97 civic (no it’s not a beater, paint still looks crisp because I garage it). All of my extra money went into rental property. I’m not mega rich, but I own multiple homes.

+2 Or even go to state schools for 4 years. I'm so sick of the snobs on this board who brag about their exclusive schools that are crushing them in debt and never netted them a high-paying job. They made bad financial decisions and now they can't afford to buy a home, because of course any home has to be in the "right" area. I don't feel sorry for them either, and I say this as someone who owned homes in coveted areas plus a beach house. I made choices to get there.

Where do you live? Because here, $800,00 gets you a fixer upper with a squatter. And that’s an hour from the city.

Uhhhh lol no. You must be thinking that bethesda or Arlington are an hour from DC. Which explains those prices with such dismal conditions.

800k can buy you a nice house within an hour from the city. I can tell you live in Dc and don’t know the area.

$550K can buy you a nice house IN the city: https://www.redfin.com/DC/Washington/5062-Central-Ave-SE-20019/home/17959742

[Anonymous]

Anonymous wrote:What’s with the focus on iPhones? I mean, I agree you need to make smart financial choices/make sacrifices to be able to afford a home but iPhones are getting mentioned as a signal of frivolous spending to a bit of an amusing degree.

Agree. Those iPhones and avocado toast are what’s preventing regular-salaried people from buying a $600,000 fixer upper. /s

Not one person has mentioned how the cost of housing has increased at an extraordinarily higher rate than incomes have increased. All those 60-70s ranch houses in the suburbs were originally bought by single earner household government employees, retired officers, and accountants but now you need two six figure earners with a $300,00 down payment to buy it in its untouched-since-1965 state. Nothing to see here folks, everything is fine.

[Anonymous]

Anonymous wrote:

Anonymous wrote:What’s with the focus on iPhones? I mean, I agree you need to make smart financial choices/make sacrifices to be able to afford a home but iPhones are getting mentioned as a signal of frivolous spending to a bit of an amusing degree.

Agree. Those iPhones and avocado toast are what’s preventing regular-salaried people from buying a $600,000 fixer upper. /s

Not one person has mentioned how the cost of housing has increased at an extraordinarily higher rate than incomes have increased. All those 60-70s ranch houses in the suburbs were originally bought by single earner household government employees, retired officers, and accountants but now you need two six figure earners with a $300,00 down payment to buy it in its untouched-since-1965 state. Nothing to see here folks, everything is fine.

Like it or not, the reason housing prices have increased is because women entered the workforce in larger numbers with higher salaries. This coincided with a time when boomers put demand on the housing supply and the higher incomes allowed prices to increase.
Too late to turn back the clocks to the 1950s when a GS 13 could live large in Arlington

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What’s with the focus on iPhones? I mean, I agree you need to make smart financial choices/make sacrifices to be able to afford a home but iPhones are getting mentioned as a signal of frivolous spending to a bit of an amusing degree.

Agree. Those iPhones and avocado toast are what’s preventing regular-salaried people from buying a $600,000 fixer upper. /s

Not one person has mentioned how the cost of housing has increased at an extraordinarily higher rate than incomes have increased. All those 60-70s ranch houses in the suburbs were originally bought by single earner household government employees, retired officers, and accountants but now you need two six figure earners with a $300,00 down payment to buy it in its untouched-since-1965 state. Nothing to see here folks, everything is fine.

Like it or not, the reason housing prices have increased is because women entered the workforce in larger numbers with higher salaries. This coincided with a time when boomers put demand on the housing supply and the higher incomes allowed prices to increase.
Too late to turn back the clocks to the 1950s when a GS 13 could live large in Arlington

+1 This has been the case for a long time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We spent our 20s in school, with very low-paying jobs, and saved enough to pay for a downpayment on a home when I turned 30.

We lived VERY frugally to achieve this, given our low incomes. We picked up free furniture left in the trashroom by other residents, bought cheap food on sale, cooked from scratch, never ate out or went to the movies or paid for any sort of entertainment, lived in a crappy one-bedroom (with one, then two kids)...

Most people on DCUM can't even imagine living such a frugal life.

And now we're living a middle class life.

But it took 10 years of lean, lean living to get there. And even now, we budget carefully.

I can relate, as I'm an immigrant and frugal living was a normal for me and my family. Thanks to an extremely frugal mindset and hard work, I own a home that is paid off, worth $1.1 mln; and I'm 45 years old. I don't get all these people, who can't afford a home. Like what the heck were you doing all your life when you're young? You had no savings, no part time jobs? Sorry, but I don't feel sorry for all people with college debt either. You should have gone to community, then transfer to the closest in-state university. That would be much cheaper for you, while you were working of course.

+1. I went to community college and transferred to UVA where my tuition was 11,000 for two years. All in with books snd room and board my student loans were under 40k for a great education. Then I went to work, paid them off, and lived a frugal lifestyle. All my clothes are from the thrift for example, and I drive a ‘97 civic (no it’s not a beater, paint still looks crisp because I garage it). All of my extra money went into rental property. I’m not mega rich, but I own multiple homes.

+2 Or even go to state schools for 4 years. I'm so sick of the snobs on this board who brag about their exclusive schools that are crushing them in debt and never netted them a high-paying job. They made bad financial decisions and now they can't afford to buy a home, because of course any home has to be in the "right" area. I don't feel sorry for them either, and I say this as someone who owned homes in coveted areas plus a beach house. I made choices to get there.

+3 Arlington's Missing Middle Housing is designed for these people. The ringleader got a PhD in history and works for a non-profit and whines that she can only afford to buy a house in Arlington is someone builds a triplex for her on an expensive piece of land in North Arlington. I am a Gen Xer and bought my first condo at 23 with an FHA loan and $5,000 I saved after paying off $35,000 in student loans -- the rest of my engineering school education was paid through work study and scholarships. I moved up the ladder and we have a very nice home in Arlington. I resent the heck out of the people who tell me that I a a racist, privileged white person (when they are also white and more privileged than I am) who is not entitled to have a 1940s colonial in North Arlington because I got a degree in something that would allow me to live in Arlington, send my kids to decent schools, and have my DH do all the work to our home.

Too bad that you thought your youth was for living la dolce via rather than preparing yourself for the responsibilities of adulthood.

+1 This is exactly the problem. Expensive education in a low-paying field + prestigious nonprofit job is for trust funds kids. She chose to fund her ego instead of buying a home but thinks she's too good to move to Manassas or Hyattsville.

Am I the only one that cringes every time I see this trope? Unless you are the CEO of United Way, your nonprofit job is almost certainly NOT prestigious.

[Anonymous]

Anonymous wrote:If you’re not a low wage earner and you can’t buy a home then you’re renting in a neighborhood that’s too expensive for you. Every couple I know still renting is doing the same thing as someone who is leasing a car because the payment is less. You need to move to a less expensive neighborhood and start saving up.

the conundrum is the best paying jobs are in cities that are high cost.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We spent our 20s in school, with very low-paying jobs, and saved enough to pay for a downpayment on a home when I turned 30.

We lived VERY frugally to achieve this, given our low incomes. We picked up free furniture left in the trashroom by other residents, bought cheap food on sale, cooked from scratch, never ate out or went to the movies or paid for any sort of entertainment, lived in a crappy one-bedroom (with one, then two kids)...

Most people on DCUM can't even imagine living such a frugal life.

And now we're living a middle class life.

But it took 10 years of lean, lean living to get there. And even now, we budget carefully.

I can relate, as I'm an immigrant and frugal living was a normal for me and my family. Thanks to an extremely frugal mindset and hard work, I own a home that is paid off, worth $1.1 mln; and I'm 45 years old. I don't get all these people, who can't afford a home. Like what the heck were you doing all your life when you're young? You had no savings, no part time jobs? Sorry, but I don't feel sorry for all people with college debt either. You should have gone to community, then transfer to the closest in-state university. That would be much cheaper for you, while you were working of course.

+1. I went to community college and transferred to UVA where my tuition was 11,000 for two years. All in with books snd room and board my student loans were under 40k for a great education. Then I went to work, paid them off, and lived a frugal lifestyle. All my clothes are from the thrift for example, and I drive a ‘97 civic (no it’s not a beater, paint still looks crisp because I garage it). All of my extra money went into rental property. I’m not mega rich, but I own multiple homes.

+2 Or even go to state schools for 4 years. I'm so sick of the snobs on this board who brag about their exclusive schools that are crushing them in debt and never netted them a high-paying job. They made bad financial decisions and now they can't afford to buy a home, because of course any home has to be in the "right" area. I don't feel sorry for them either, and I say this as someone who owned homes in coveted areas plus a beach house. I made choices to get there.

Where do you live? Because here, $800,00 gets you a fixer upper with a squatter. And that’s an hour from the city.

Uhhhh lol no. You must be thinking that bethesda or Arlington are an hour from DC. Which explains those prices with such dismal conditions.

800k can buy you a nice house within an hour from the city. I can tell you live in Dc and don’t know the area.

$550K can buy you a nice house IN the city: https://www.redfin.com/DC/Washington/5062-Central-Ave-SE-20019/home/17959742

Nice?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We spent our 20s in school, with very low-paying jobs, and saved enough to pay for a downpayment on a home when I turned 30.

We lived VERY frugally to achieve this, given our low incomes. We picked up free furniture left in the trashroom by other residents, bought cheap food on sale, cooked from scratch, never ate out or went to the movies or paid for any sort of entertainment, lived in a crappy one-bedroom (with one, then two kids)...

Most people on DCUM can't even imagine living such a frugal life.

And now we're living a middle class life.

But it took 10 years of lean, lean living to get there. And even now, we budget carefully.

I can relate, as I'm an immigrant and frugal living was a normal for me and my family. Thanks to an extremely frugal mindset and hard work, I own a home that is paid off, worth $1.1 mln; and I'm 45 years old. I don't get all these people, who can't afford a home. Like what the heck were you doing all your life when you're young? You had no savings, no part time jobs? Sorry, but I don't feel sorry for all people with college debt either. You should have gone to community, then transfer to the closest in-state university. That would be much cheaper for you, while you were working of course.

+1. I went to community college and transferred to UVA where my tuition was 11,000 for two years. All in with books snd room and board my student loans were under 40k for a great education. Then I went to work, paid them off, and lived a frugal lifestyle. All my clothes are from the thrift for example, and I drive a ‘97 civic (no it’s not a beater, paint still looks crisp because I garage it). All of my extra money went into rental property. I’m not mega rich, but I own multiple homes.

+2 Or even go to state schools for 4 years. I'm so sick of the snobs on this board who brag about their exclusive schools that are crushing them in debt and never netted them a high-paying job. They made bad financial decisions and now they can't afford to buy a home, because of course any home has to be in the "right" area. I don't feel sorry for them either, and I say this as someone who owned homes in coveted areas plus a beach house. I made choices to get there.

+3 Arlington's Missing Middle Housing is designed for these people. The ringleader got a PhD in history and works for a non-profit and whines that she can only afford to buy a house in Arlington is someone builds a triplex for her on an expensive piece of land in North Arlington. I am a Gen Xer and bought my first condo at 23 with an FHA loan and $5,000 I saved after paying off $35,000 in student loans -- the rest of my engineering school education was paid through work study and scholarships. I moved up the ladder and we have a very nice home in Arlington. I resent the heck out of the people who tell me that I a a racist, privileged white person (when they are also white and more privileged than I am) who is not entitled to have a 1940s colonial in North Arlington because I got a degree in something that would allow me to live in Arlington, send my kids to decent schools, and have my DH do all the work to our home.

Too bad that you thought your youth was for living la dolce via rather than preparing yourself for the responsibilities of adulthood.

+1 This is exactly the problem. Expensive education in a low-paying field + prestigious nonprofit job is for trust funds kids. She chose to fund her ego instead of buying a home but thinks she's too good to move to Manassas or Hyattsville.

Am I the only one that cringes every time I see this trope? Unless you are the CEO of United Way, your nonprofit job is almost certainly NOT prestigious.

You are not alone!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Mid thirties couple here with no way forward regarding buying a home. I feel sad knowing I won’t be able to have a home to call my own and decorate and build a family in.

Anyone else in this boat?

No. You two had at minimum 10 years to live in a condo/townhouse (possible with roommates) and pay down the mortgage. Then take out the equity and buy something bigger. Since you don't seem to have done that, take the money you invested while renting all those years (Usually renting is cheaper than owning, so the difference you invested). You did that, right? If you live in DMV you have known for a long time that it is expensive to live here.
If no,t you two need to move into a studio and both work 1.5 jobs to save up for a townhouse somewhere outside of the city. Within a few years when the interest rates go down again, you should be ready to buy. Get a roommate if you do buy a townhouse or a house.

This. The pp had years to live frugally and save for home ownership. If you suddenly look up at age 33 and wonder why you don't own a home, then that's on you.

So hard to imagine that many people in an area known for highky edicared transplants didn't grow up here, didn't live with mom and dad, or spent their savings or had low incomes in their 20s due to higher education. I know TONS of people who weren't able to save for a down payment at the rate prices were increasing in their 20s.

Lots of us did it without family to live with or to give us money. We lived with roommates in crappy rentals and saved money to buy a dated home in a tier 2 or 3 area. You also need to be careful taking on student loans. If that exclusive school is going to saddle you with debt but not a high salary, then you can't afford it. You also can't afford the prestigious but low-paying career. I have no sympathy for people who indulged their egos instead of being financially responsible.

Don't try to live the trust fund lifestyle without a trust fund then come complaining.

There is some truth to this and there are also now some systemic barriers to wealth building that Gen X and Boomers didn't face.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We spent our 20s in school, with very low-paying jobs, and saved enough to pay for a downpayment on a home when I turned 30.

We lived VERY frugally to achieve this, given our low incomes. We picked up free furniture left in the trashroom by other residents, bought cheap food on sale, cooked from scratch, never ate out or went to the movies or paid for any sort of entertainment, lived in a crappy one-bedroom (with one, then two kids)...

Most people on DCUM can't even imagine living such a frugal life.

And now we're living a middle class life.

But it took 10 years of lean, lean living to get there. And even now, we budget carefully.

I can relate, as I'm an immigrant and frugal living was a normal for me and my family. Thanks to an extremely frugal mindset and hard work, I own a home that is paid off, worth $1.1 mln; and I'm 45 years old. I don't get all these people, who can't afford a home. Like what the heck were you doing all your life when you're young? You had no savings, no part time jobs? Sorry, but I don't feel sorry for all people with college debt either. You should have gone to community, then transfer to the closest in-state university. That would be much cheaper for you, while you were working of course.

+1. I went to community college and transferred to UVA where my tuition was 11,000 for two years. All in with books snd room and board my student loans were under 40k for a great education. Then I went to work, paid them off, and lived a frugal lifestyle. All my clothes are from the thrift for example, and I drive a ‘97 civic (no it’s not a beater, paint still looks crisp because I garage it). All of my extra money went into rental property. I’m not mega rich, but I own multiple homes.

+2 Or even go to state schools for 4 years. I'm so sick of the snobs on this board who brag about their exclusive schools that are crushing them in debt and never netted them a high-paying job. They made bad financial decisions and now they can't afford to buy a home, because of course any home has to be in the "right" area. I don't feel sorry for them either, and I say this as someone who owned homes in coveted areas plus a beach house. I made choices to get there.

+3 Arlington's Missing Middle Housing is designed for these people. The ringleader got a PhD in history and works for a non-profit and whines that she can only afford to buy a house in Arlington is someone builds a triplex for her on an expensive piece of land in North Arlington. I am a Gen Xer and bought my first condo at 23 with an FHA loan and $5,000 I saved after paying off $35,000 in student loans -- the rest of my engineering school education was paid through work study and scholarships. I moved up the ladder and we have a very nice home in Arlington. I resent the heck out of the people who tell me that I a a racist, privileged white person (when they are also white and more privileged than I am) who is not entitled to have a 1940s colonial in North Arlington because I got a degree in something that would allow me to live in Arlington, send my kids to decent schools, and have my DH do all the work to our home.

Too bad that you thought your youth was for living la dolce via rather than preparing yourself for the responsibilities of adulthood.

+1 This is exactly the problem. Expensive education in a low-paying field + prestigious nonprofit job is for trust funds kids. She chose to fund her ego instead of buying a home but thinks she's too good to move to Manassas or Hyattsville.

Am I the only one that cringes every time I see this trope? Unless you are the CEO of United Way, your nonprofit job is almost certainly NOT prestigious.

You are not alone!

Haha I worked at a trade association and my job was not prestigious at all. But it was actually quite well paid for the hours (I only worked 35 a week officially and probably more like 30 unofficially and was paid the same as in the private sector, where I worked way more).

[Anonymous]

Anonymous wrote:

Anonymous wrote:This thread is just the latest item on a long list of why I sincerely think that the posters of this website are some of the least happy people you can find. Not just the people lamenting about not owning a physical asset because they view it as a status or identity item, but also some of the nasty responses.

You have to remember that most of the posters here are in a rat race they can't escape. They believe they have to follow a script for life -- get the right education, get a high-paying job, get married, have kids, buy a house in the suburbs. They do that and realize they are miserable. Instead of taking a hard look at themselves and what they truly want out of life, they double down on making sure everyone else follows the same script. Misery loves company.

OH MY GOD this is the truest, most definitive post I have ever read on DCUM.