Anybody else extremely depressed over real estate?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

My point was that OP (who apparently has a million to spend) has a lot of options. She seems determined to not accept any of them. Even in DC, anyone with a million-dollar budget is not “down.”

A million dollars still buys you a fixer upper though and that should depress everyone. What you get your money here is crazy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

My point was that OP (who apparently has a million to spend) has a lot of options. She seems determined to not accept any of them. Even in DC, anyone with a million-dollar budget is not “down.”

A million dollars still buys you a fixer upper though and that should depress everyone. What you get your money here is crazy.

You can make any house nice. Keep a positive attitude and make improvements over time. Don’t project throughout your kids’ entire childhood that you made a huge mistake by not buying when you should have, and that your lives will never be what they could have been. Show your kids that life is what you make it, and that you are resilient and resourceful enough that if you didn’t succeed as you wished in one area, you will try something else. Get a side hustle, and who knows what can happen. Or live creatively in a smaller space. Educate your kids over time about the good fortune we have to be living in the U.S. as compared to many other places, and in the DC area, if that’s where you are. Say that we are in a smaller home or condo because we are living in or near the nation’s capital with some of the most interesting and capable people in the world. Focus on what you can contribute to your community and to the world.

[Anonymous]

Our house cost $600k and is still worth under a million. We have a nice (though unmodernized) 4 bedroom in a great school district (BCC) within easy walk of the metro.

Our compromise was buying on a busy road. There will always be compromises. But we are immensely grateful for what we have had and have loved raising kids here.

So no, I don’t have much sympathy with OP. I think having a better attitude would solve all her problems.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

My point was that OP (who apparently has a million to spend) has a lot of options. She seems determined to not accept any of them. Even in DC, anyone with a million-dollar budget is not “down.”

A million dollars still buys you a fixer upper though and that should depress everyone. What you get your money here is crazy.

Please $1M won’t get you a teardown on the inside the beltway on the Bethesda/CC anymore.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

My point was that OP (who apparently has a million to spend) has a lot of options. She seems determined to not accept any of them. Even in DC, anyone with a million-dollar budget is not “down.”

A million dollars still buys you a fixer upper though and that should depress everyone. What you get your money here is crazy.

You can make any house nice. Keep a positive attitude and make improvements over time. Don’t project throughout your kids’ entire childhood that you made a huge mistake by not buying when you should have, and that your lives will never be what they could have been. Show your kids that life is what you make it, and that you are resilient and resourceful enough that if you didn’t succeed as you wished in one area, you will try something else. Get a side hustle, and who knows what can happen. Or live creatively in a smaller space. Educate your kids over time about the good fortune we have to be living in the U.S. as compared to many other places, and in the DC area, if that’s where you are. Say that we are in a smaller home or condo because we are living in or near the nation’s capital with some of the most interesting and capable people in the world. Focus on what you can contribute to your community and to the world.

Fine, but these are all lies and rationalizations concealing “we missed out and our lives will never be what they could have been.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

My point was that OP (who apparently has a million to spend) has a lot of options. She seems determined to not accept any of them. Even in DC, anyone with a million-dollar budget is not “down.”

A million dollars still buys you a fixer upper though and that should depress everyone. What you get your money here is crazy.

You can make any house nice. Keep a positive attitude and make improvements over time. Don’t project throughout your kids’ entire childhood that you made a huge mistake by not buying when you should have, and that your lives will never be what they could have been. Show your kids that life is what you make it, and that you are resilient and resourceful enough that if you didn’t succeed as you wished in one area, you will try something else. Get a side hustle, and who knows what can happen. Or live creatively in a smaller space. Educate your kids over time about the good fortune we have to be living in the U.S. as compared to many other places, and in the DC area, if that’s where you are. Say that we are in a smaller home or condo because we are living in or near the nation’s capital with some of the most interesting and capable people in the world. Focus on what you can contribute to your community and to the world.

Fine, but these are all lies and rationalizations concealing “we missed out and our lives will never be what they could have been.”

I wasn't able to have kids and ended up divorced. My life will "never be what it could have been" either but live goes on anyway. So, to steal from Red, you can either get busy living or get busy dying. This whining is useless.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

I'm not OP but I've posted in this thread about being depressed. I don't have a million dollars to spend (nor would I qualify for a mortgage for a million dollar house). I'd love a 3-bedroom rowhouse in DC -- I can't afford one. Depending on when you bought, I could probably now afford to buy your house at the price you paid for it. But not now. And you get to bank all that equity, which means if you want to move at some point, you'll be up probably a couple hundred thousand over me for that house, too.

You bought at the right time. You had enough for a down payment and enough income to buy your house that you now "happily" live in, when it still cost little enough for you to buy it. Maybe I'm a few years younger than you, maybe I'm in a different field and it took me longer to get to the down payment and income level you got to. Maybe I married later. You lucked out, I didn't. I'm depressed about it.

Also, just to really drive it home -- you have multiple kids and I only have once because we didn't have the space for another kid and then got priced out of the space for another kid and now we have only one kid. I love my kid! But yes, it's freaking hard when major life choices are dictated by how much money you have for a downpayment before the housing market skyrockets and you can no longer afford it at all.

Enjoy your family and your happy life in your 3 bedroom DC row house which will only increase rapidly in value. I can see why you took time out of your day to come here and complain.

DP, not the poster you're replying to, but they probably felt similar when they were buying that 3br rowhouse that seemed exorbitant at that time. Almost everyone has that feeling when they buy, that prices have risen so much and "it shouldn't cost so much for a house like this" and "if I had only been in the position to buy 10 years ago it would have been so much cheaper".

If you buy now, whatever it is you can afford now, it is likely that the next person a few years younger will complain about the same thing down the road and think that you got a bargain that they could never afford. It's not luck, it's the market and prices may flatten or dip slightly but they aren't going back to what they were 20 years ago. So you, and OP, should buy what you can now even if it's farther out or smaller than you would like.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

My point was that OP (who apparently has a million to spend) has a lot of options. She seems determined to not accept any of them. Even in DC, anyone with a million-dollar budget is not “down.”

A million dollars still buys you a fixer upper though and that should depress everyone. What you get your money here is crazy.

Please $1M won’t get you a teardown on the inside the beltway on the Bethesda/CC anymore.

Why do you have to live there, in one of the most expensive places in the area? Expand your search and you will find more affordable homes. Honestly, it's a little ridiculous.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

My point was that OP (who apparently has a million to spend) has a lot of options. She seems determined to not accept any of them. Even in DC, anyone with a million-dollar budget is not “down.”

A million dollars still buys you a fixer upper though and that should depress everyone. What you get your money here is crazy.

Please $1M won’t get you a teardown on the inside the beltway on the Bethesda/CC anymore.

Yes, it will....

https://www.zillow.com/homedetails/103-N-Brook-Ln-Bethesda-MD-20814/37171395_zpid/?

[Anonymous]

Anonymous wrote:Our house cost $600k and is still worth under a million. We have a nice (though unmodernized) 4 bedroom in a great school district (BCC) within easy walk of the metro.

Our compromise was buying on a busy road. There will always be compromises. But we are immensely grateful for what we have had and have loved raising kids here.

So no, I don’t have much sympathy with OP. I think having a better attitude would solve all her problems.

Fine, don't have sympathy for OP.

But I hope you understand that there are many people who have been priced out of the market, even buying an unmodernized house on a busy road, because not only can they not afford the 800-900k it would now list at, but they might not even be able to by it at 600k as you did, because rate increases make that 600k house significantly more expensive.

You can't "better attitude" your way out of simply being priced out of an entire market. 10 years ago in this area, people looking for starter homes around 500k could find them. They'd have to make compromises on size, location, schools, and upgrades, but you could buy something and get onto the property ladder. Now you can't. Now it's hard to find that for 750k and it all costs more -- the mortgage, the closing costs, any minor upgrades you might make to a fixer upper so it works for you.

A lot of us are just SOL. And now have to decide between moving way out with a long commute (the people in this position don't tend to have super flexible, remote jobs they can take wherever), waiting a couple years to see if we can save up more/increase incomes to make it easier (risking prices going up even more), or uproot and just head somewhere else. These options suck. I would LOVE an unmodernized house on a busy street with good schools. Seriously, I'm to the point where I think I'd give up my non-dominant hand for it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

I'm not OP but I've posted in this thread about being depressed. I don't have a million dollars to spend (nor would I qualify for a mortgage for a million dollar house). I'd love a 3-bedroom rowhouse in DC -- I can't afford one. Depending on when you bought, I could probably now afford to buy your house at the price you paid for it. But not now. And you get to bank all that equity, which means if you want to move at some point, you'll be up probably a couple hundred thousand over me for that house, too.

You bought at the right time. You had enough for a down payment and enough income to buy your house that you now "happily" live in, when it still cost little enough for you to buy it. Maybe I'm a few years younger than you, maybe I'm in a different field and it took me longer to get to the down payment and income level you got to. Maybe I married later. You lucked out, I didn't. I'm depressed about it.

Also, just to really drive it home -- you have multiple kids and I only have once because we didn't have the space for another kid and then got priced out of the space for another kid and now we have only one kid. I love my kid! But yes, it's freaking hard when major life choices are dictated by how much money you have for a downpayment before the housing market skyrockets and you can no longer afford it at all.

Enjoy your family and your happy life in your 3 bedroom DC row house which will only increase rapidly in value. I can see why you took time out of your day to come here and complain.

DP, not the poster you're replying to, but they probably felt similar when they were buying that 3br rowhouse that seemed exorbitant at that time. Almost everyone has that feeling when they buy, that prices have risen so much and "it shouldn't cost so much for a house like this" and "if I had only been in the position to buy 10 years ago it would have been so much cheaper".

If you buy now, whatever it is you can afford now, it is likely that the next person a few years younger will complain about the same thing down the road and think that you got a bargain that they could never afford. It's not luck, it's the market and prices may flatten or dip slightly but they aren't going back to what they were 20 years ago. So you, and OP, should buy what you can now even if it's farther out or smaller than you would like.

This doesn't help the people locked into condos that are aging/not appreciating, hard to sell, and can't unlock equity to buy "whatever they can afford." They are effectively trapped in their starter condo.

[Anonymous]

Owning a home is pretty overrated. There is always,.alllllllllways something wrong they needs to be fixed. Home repairs are stupidly expensive these days and deing with contractors can often be a giant PITA. Taxes go up constantly. Owning a home also entices you to spend a lot more money furnishing and decorating the place, which let's be honest, doesn't really improve our lives in any meaningful way. You'd be much better off taking all the money you blew on furniture etc and investing it instead. Constant maintenance costs for lawns, furnance, roof, gutters, AC, termite treatments. It never ends, and neither do the hikes for insurance and taxes.

You're not missing out on much. And I own a home.

[Anonymous]

Also, people are only focused on appreciation, but they really aren't subtracting out all of the costs for repairs, maintenance, taxes, and insurance. You really aren't gaining that much equity when you blow $20k on a new roof, $10k on a new AC, $10k on masonry repairs, etc. Etc..it never ends.

[Anonymous]

Anonymous wrote:Owning a home is pretty overrated. There is always,.alllllllllways something wrong they needs to be fixed. Home repairs are stupidly expensive these days and deing with contractors can often be a giant PITA. Taxes go up constantly. Owning a home also entices you to spend a lot more money furnishing and decorating the place, which let's be honest, doesn't really improve our lives in any meaningful way. You'd be much better off taking all the money you blew on furniture etc and investing it instead. Constant maintenance costs for lawns, furnance, roof, gutters, AC, termite treatments. It never ends, and neither do the hikes for insurance and taxes.

You're not missing out on much. And I own a home.

The problem is that most people have no idea how to invest money in a way that would not only net them similar returns to homeownership, but also cover their living costs. It's not that it's impossible, it's just much, much harder than just buying a home to live in, muddling through on the maintenance, and then selling it for a profit later. For most Americans, their home is their financial saving grace, their one major appreciating asset, and their mortgage serves as a form of forced savings that keeps people from winding up destitute.

Most people aren't that good with money, but if they can scrape together a down payment and buy something, they'll do okay. Combine it with an automatic 401k deduction and social security, and you're not totally screwed in old age. There are alternative avenues and they might even be better avenues. But they take skill, whereas home ownership does not.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

My point was that OP (who apparently has a million to spend) has a lot of options. She seems determined to not accept any of them. Even in DC, anyone with a million-dollar budget is not “down.”

A million dollars still buys you a fixer upper though and that should depress everyone. What you get your money here is crazy.

Please $1M won’t get you a teardown on the inside the beltway on the Bethesda/CC anymore.

Yes, it will....

https://www.zillow.com/homedetails/103-N-Brook-Ln-Bethesda-MD-20814/37171395_zpid/?

I guarantee you this house did not close for under $1M more likely $1.2-1.4M.