Why are people in the DC area so...greedy?

[Anonymous]

Anonymous wrote:Why do people associate wanting to be successful as greedy? If you earn the income it’s not greed..unless you’re being unethical.

I hope my kids strive for the highest levels of success..what parent wouldn’t want that?

People become greedy as they attain more money sometimes bending the rules of their profession and being inconsiderate of others or using their authority to take advantage of others.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I wouldn't call it greed, but rather a stubborn inability to curtail spending on discretionary items as one's income increases or decreases. Lifestyle creep.

Do they have debt?

The older generations were peak at living above their means. Every generation thinks the younger are foolish.

PP here. I am 26.

LOL. how dare you mess up PP's nice narrative!!

[Anonymous]

Anonymous wrote:When you have 150k in student debt and your average house costs close to a million dollars, you pretty much have to milk your salary as high as possible.


15-20 years ago, a 100k salary could buy you a nice SFH for about 400k. Now, 100k salary isn’t even enough for a 20% down payment on a house.

20 years ago, people were happy with a 1600-1800 sqft house. Now, starting is 4000 sqft.

[Anonymous]

Anonymous wrote:

Anonymous wrote:When you have 150k in student debt and your average house costs close to a million dollars, you pretty much have to milk your salary as high as possible.


15-20 years ago, a 100k salary could buy you a nice SFH for about 400k. Now, 100k salary isn’t even enough for a 20% down payment on a house.

20 years ago, people were happy with a 1600-1800 sqft house. Now, starting is 4000 sqft.

That’s not people’s fault. It’s minimum lot sizes and nimbyism.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When you have 150k in student debt and your average house costs close to a million dollars, you pretty much have to milk your salary as high as possible.


15-20 years ago, a 100k salary could buy you a nice SFH for about 400k. Now, 100k salary isn’t even enough for a 20% down payment on a house.

20 years ago, people were happy with a 1600-1800 sqft house. Now, starting is 4000 sqft.

That’s not people’s fault. It’s minimum lot sizes and nimbyism.

This


I prefer a house around 2500 Sq ft. It’s the perfect size for a family of 4. But I can’t find any unless they’re either shacks or McMansions. The market is nuts.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why do people associate wanting to be successful as greedy? If you earn the income it’s not greed..unless you’re being unethical.

I hope my kids strive for the highest levels of success..what parent wouldn’t want that?

Why do people associate salary with success? Seems rather superficial to me.

To me, net worth matters more. You can make 500k a year and still live paycheck to paycheck and then if you get laid off, you have nothing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When you have 150k in student debt and your average house costs close to a million dollars, you pretty much have to milk your salary as high as possible.


15-20 years ago, a 100k salary could buy you a nice SFH for about 400k. Now, 100k salary isn’t even enough for a 20% down payment on a house.

20 years ago, people were happy with a 1600-1800 sqft house. Now, starting is 4000 sqft.

That’s not people’s fault. It’s minimum lot sizes and nimbyism.

Thi

I prefer a house around 2500 Sq ft. It’s the perfect size for a family of 4. But I can’t find any unless they’re either shacks or McMansions. The market is nuts.

+1

No in between, seemingly. People think they want the big house until they have it, and realize that it is not all that. But there are no medium sized houses, it seems - at least those which are not hideous; and most people don't want the old small brick box houses that have some else's make shift add ons, with zero storage, plus low ceilings. So, they buy the big house, if they can, and make it homey.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why do people associate wanting to be successful as greedy? If you earn the income it’s not greed..unless you’re being unethical.

I hope my kids strive for the highest levels of success..what parent wouldn’t want that?

Why do people associate salary with success? Seems rather superficial to me.

To me, net worth matters more. You can make 500k a year and still live paycheck to paycheck and then if you get laid off, you have nothing.

You don’t get net worth without income unless you inherit assets.

[Anonymous]

Anonymous wrote:

Anonymous wrote:When you have 150k in student debt and your average house costs close to a million dollars, you pretty much have to milk your salary as high as possible.


15-20 years ago, a 100k salary could buy you a nice SFH for about 400k. Now, 100k salary isn’t even enough for a 20% down payment on a house.

20 years ago, people were happy with a 1600-1800 sqft house. Now, starting is 4000 sqft.

Maybe in fly over country. I’m 33 and we are Shopping for a house with a 1.5M max. We are
Purposely looking close in so we don’t have some monstrosity of a house like out in Potomac. All my peers want modest sized homes, even if they cost 2M +. They would rather live closer in that have some gaudy mansion.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When you have 150k in student debt and your average house costs close to a million dollars, you pretty much have to milk your salary as high as possible.


15-20 years ago, a 100k salary could buy you a nice SFH for about 400k. Now, 100k salary isn’t even enough for a 20% down payment on a house.

20 years ago, people were happy with a 1600-1800 sqft house. Now, starting is 4000 sqft.

Maybe in fly over country. I’m 33 and we are Shopping for a house with a 1.5M max. We are
Purposely looking close in so we don’t have some monstrosity of a house like out in Potomac. All my peers want modest sized homes, even if they cost 2M +. They would rather live closer in that have some gaudy mansion.

True, and you have other people who figure if my choice is to buy a close in modest home for say 900K or a further out bigger home for….the same 900K they’d rather get more. Either way the 700K townhouse out further or the 500K apartment in closer doesn’t look as appealing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Why do people associate wanting to be successful as greedy? If you earn the income it’s not greed..unless you’re being unethical.

I hope my kids strive for the highest levels of success..what parent wouldn’t want that?

Why do people associate salary with success? Seems rather superficial to me.

To me, net worth matters more. You can make 500k a year and still live paycheck to paycheck and then if you get laid off, you have nothing.

You don’t get net worth without income unless you inherit assets.

But if you’re living paycheck to paycheck, it doesn’t matter. You have a budgeting/spending issue.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When you have 150k in student debt and your average house costs close to a million dollars, you pretty much have to milk your salary as high as possible.


15-20 years ago, a 100k salary could buy you a nice SFH for about 400k. Now, 100k salary isn’t even enough for a 20% down payment on a house.

20 years ago, people were happy with a 1600-1800 sqft house. Now, starting is 4000 sqft.

That’s not people’s fault. It’s minimum lot sizes and nimbyism.

Thi

I prefer a house around 2500 Sq ft. It’s the perfect size for a family of 4. But I can’t find any unless they’re either shacks or McMansions. The market is nuts.

+1

No in between, seemingly. People think they want the big house until they have it, and realize that it is not all that. But there are no medium sized houses, it seems - at least those which are not hideous; and most people don't want the old small brick box houses that have some else's make shift add ons, with zero storage, plus low ceilings. So, they buy the big house, if they can, and make it homey.

Yeah the big house with a family of four makes no sense. People think they want all the space but most rooms will just sit empty unless you have visitors during the holidays.

[Anonymous]

She needs to raise her salary.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Why do people associate wanting to be successful as greedy? If you earn the income it’s not greed..unless you’re being unethical.

I hope my kids strive for the highest levels of success..what parent wouldn’t want that?

I want my kids to prioritize family life.

Low bar.

[Anonymous]

younger people sometimes have unrealistic expectations. they presumably have some substantially more well-off friends and have also likely never really known anything else. it skews your perspective.