Didn't realize how expensive home ownership was

[Anonymous]

Again, people here compare apples to oranges. One thing is buying to live there , another use RE as investment

[Anonymous]

Insurance and taxes are so expensive. And repairs. And HOA fees.

Buying is great if you want stability and wish to stay put. But it wont make you any richer than renting.

Saying your house value quadrupled does not mean your wealth increased (unless you sold your house. And unless you count up the extra fees and repairs before you calculate the sale amount.)

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Anonymous wrote:
When we bought our home 30 years ago, we had to stretch our budget and be comfortable with buying a house that was 4x our gross annual income. And at that point in DMV our 2 choices were - a small, old tiny dwelling (as a starter home) in a very desirable neighborhood OR a new decent sized SFH in the boonies in a neighborhood that had poorly rated public schools.

This was nearly 30 years ago. At that age, and in those economic conditions, and that salary...we felt all the pinch in many ways. Barely managing on one income, one kid, SAHM. So, home-ownership was never easy for anyone we knew. I am shocked at the boo-hooing that we see when young people cry about not being able to afford housing or their lifestyle.

We lived for years till we were in our mid 30s with frugality in our food budget, gas budget, clothing budget and bought only the bare minimum stuff. And no - we did not have travel budget, kids EC budget, private school budget, hair extension and coloring budget, pet budget.

What are the people cribbing about. Buying a home was a big accomplishment. We stayed in an apartment from the time we started working (22) till after we had our DC 1 (33).


Cribbing gives you away…

+1 You need to learn to speak American English.