How are Millennials affording new $1.5+million home in MD, DC and VA?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My neighborhood has 2 former SCOTUS clerks who rolled their $500k signing bonus to big law right into their new house purchase.
It was the first question the older one asked the younger one- what’d you do with your special bonus?

This kind of makes me sick

Why? Being a SCOTUS clerk is a really big deal and there are so few of them.

And clerks made peanuts. Gov’t scale. Plus you only have 0-3 yrs of work experience

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm amazed at how many 28-40 yo's we know that are purchasing brand new homes in Bethesda, Chevy Chase, DC, Vienna and McLean. What took my spouse and I years to afford, they are buying at a relatively young age. How do they do it here? My spouse is a partner in a law firm and our house is barely worth a million. Granted, we'll have it paid for next year. But really, Millennials what's your secret?

Millennials here. We bought our starter home for $1.2M 10 years ago at age 28. It was an apartment in Manhattan. We had no help from family.
We now live in a $2M home in Arlington.
The secret is hard work.

Did parents pay for a college education? Were you raised to understand financial literacy? Were you raised to believe you could achieve your goals?

If so, you had help.

DP. Is there any point at which you think someone can rightly claim some credit for their own success? Yes, having college paid for is help. The other things are advantages that some people do not enjoy. But none of that is determinative. Hard work, talent, and of course luck to a degree play a huge role in whether someone is ultimately successful.

[Anonymous]

We aren't afraid of debt and hustle to push up our salaries. Suck it boomers

[Anonymous]

Anonymous wrote:

Anonymous wrote:Screw all you finance people who are getting rich by leeching off the rest of the economy that is full of people who actually do valuable work

There you go again. Pls get therapy.

This is different PP, BTW

[Anonymous]

Anonymous wrote:Screw all you finance people who are getting rich by leeching off the rest of the economy that is full of people who actually do valuable work

Well free market has determined that they are valuable sorry non profit govt worker poo poo head

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm amazed at how many 28-40 yo's we know that are purchasing brand new homes in Bethesda, Chevy Chase, DC, Vienna and McLean. What took my spouse and I years to afford, they are buying at a relatively young age. How do they do it here? My spouse is a partner in a law firm and our house is barely worth a million. Granted, we'll have it paid for next year. But really, Millennials what's your secret?

Millennials here. We bought our starter home for $1.2M 10 years ago at age 28. It was an apartment in Manhattan. We had no help from family.
We now live in a $2M home in Arlington.
The secret is hard work.

Did parents pay for a college education? Were you raised to understand financial literacy? Were you raised to believe you could achieve your goals?

If so, you had help.

DP. Is there any point at which you think someone can rightly claim some credit for their own success? Yes, having college paid for is help. The other things are advantages that some people do not enjoy. But none of that is determinative. Hard work, talent, and of course luck to a degree play a huge role in whether someone is ultimately successful.

It’s not about claiming credit, its about being gracious and appreciating the advantages you had and not chiding others for not working hard enough, when really it is far more complicated.

Still waiting for their rags to riches story showcasing their hard work...

[Anonymous]

Anonymous wrote:

Anonymous wrote:Screw all you finance people who are getting rich by leeching off the rest of the economy that is full of people who actually do valuable work

Well free market has determined that they are valuable sorry non profit govt worker poo poo head

Biting commentary, bravo.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm amazed at how many 28-40 yo's we know that are purchasing brand new homes in Bethesda, Chevy Chase, DC, Vienna and McLean. What took my spouse and I years to afford, they are buying at a relatively young age. How do they do it here? My spouse is a partner in a law firm and our house is barely worth a million. Granted, we'll have it paid for next year. But really, Millennials what's your secret?

Millennials here. We bought our starter home for $1.2M 10 years ago at age 28. It was an apartment in Manhattan. We had no help from family.
We now live in a $2M home in Arlington.
The secret is hard work.

Did parents pay for a college education? Were you raised to understand financial literacy? Were you raised to believe you could achieve your goals?

If so, you had help.

DP. Is there any point at which you think someone can rightly claim some credit for their own success? Yes, having college paid for is help. The other things are advantages that some people do not enjoy. But none of that is determinative. Hard work, talent, and of course luck to a degree play a huge role in whether someone is ultimately successful.

It’s not about claiming credit, its about being gracious and appreciating the advantages you had and not chiding others for not working hard enough, when really it is far more complicated.

Still waiting for their rags to riches story showcasing their hard work...

+1000
So many people believe that the sole reason for their successes is hard work, when really, they have a lot of advantages (and luck) that they simply don't recognize. That is not to say that there aren't people who truly come from nothing and manage to make a success of themselves; it's just that it is not always as simple as others may think.

You can't pull yourself up by your bootstraps if you don't have any boots; and some people have many more obstacles to success than others.