Anybody else extremely depressed over real estate?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How many times have you posted about this before, OP? Are you the mom of two teens who wants to spend $1 Million? I don't feel sorry for you. If you compromise on location, you can get exactly what you need - and I mean 15 minutes further away than you live now will get you something nice.

+1

What areas are you looking in, OP? We can give some suggestions.

I have seen enough from this OP that I am not inclined to offer any suggestions, other than that she should grow up. She's insufferable.

DP here, but please feel free to leave this thread if you're not going to help. Housing affordability is at a historic low. This really hurts the financial picture and standard of living for buyers like OP. It's not "insufferable" to be sad that you can no longer afford the type of home that you were saving for, even if someone else has it worse.

No, I don't think so. I'm going to stay and continue to point out what a histrionic buffoon OP is.

You diminish yourself.

[Anonymous]

Our household income is 10 times what my father’s was when I was a teenager. Living here, what we can afford would buy is the same kind of condo he rented at the time. So despite the enormous income increase, my housing hasn’t improved in 40 years. You bet I’m bitter. Housing prices are insane and if I have to live in a crappy little place, all I’m asking is that it also not cost half my take home pay. But you have to spend a fortune AND live is a fixer upper here. That stings.

[Anonymous]

Anonymous wrote:Our household income is 10 times what my father’s was when I was a teenager. Living here, what we can afford would buy is the same kind of condo he rented at the time. So despite the enormous income increase, my housing hasn’t improved in 40 years. You bet I’m bitter. Housing prices are insane and if I have to live in a crappy little place, all I’m asking is that it also not cost half my take home pay. But you have to spend a fortune AND live is a fixer upper here. That stings.

LOL. So move. Move to the Midwest. Move to Mexico. Move to anywhere where you can afford it. The reality is that population has increased, demand has increased, and COL has increased. You think that time stops for you? GTFO. Perhaps we could transport you back to 1960 and you'd be happier, yes?

F--ing adjust. All you whiners on here expect the WORLD but refuse to make any adjustments to lifestyle or expectations. If you're not lucky enough to be a trust fund kid, you're going to have to set more realistic expectations. Oh, and unplug from social media. You ladies will be much happier.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Our household income is 10 times what my father’s was when I was a teenager. Living here, what we can afford would buy is the same kind of condo he rented at the time. So despite the enormous income increase, my housing hasn’t improved in 40 years. You bet I’m bitter. Housing prices are insane and if I have to live in a crappy little place, all I’m asking is that it also not cost half my take home pay. But you have to spend a fortune AND live is a fixer upper here. That stings.

LOL. So move. Move to the Midwest. Move to Mexico. Move to anywhere where you can afford it. The reality is that population has increased, demand has increased, and COL has increased. You think that time stops for you? GTFO. Perhaps we could transport you back to 1960 and you'd be happier, yes?

F--ing adjust. All you whiners on here expect the WORLD but refuse to make any adjustments to lifestyle or expectations. If you're not lucky enough to be a trust fund kid, you're going to have to set more realistic expectations. Oh, and unplug from social media. You ladies will be much happier.

If you understood it was far more complicated than “the population increasing”, you’d be pissed too. The wealth gap, wages, unlimited RE investments, and foreign money in real estate are all screwing everyone who isn’t rich. If you’re not bitter, you’re either rich, a real estate agent, or not paying attention.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our household income is 10 times what my father’s was when I was a teenager. Living here, what we can afford would buy is the same kind of condo he rented at the time. So despite the enormous income increase, my housing hasn’t improved in 40 years. You bet I’m bitter. Housing prices are insane and if I have to live in a crappy little place, all I’m asking is that it also not cost half my take home pay. But you have to spend a fortune AND live is a fixer upper here. That stings.

LOL. So move. Move to the Midwest. Move to Mexico. Move to anywhere where you can afford it. The reality is that population has increased, demand has increased, and COL has increased. You think that time stops for you? GTFO. Perhaps we could transport you back to 1960 and you'd be happier, yes?

F--ing adjust. All you whiners on here expect the WORLD but refuse to make any adjustments to lifestyle or expectations. If you're not lucky enough to be a trust fund kid, you're going to have to set more realistic expectations. Oh, and unplug from social media. You ladies will be much happier.

If you understood it was far more complicated than “the population increasing”, you’d be pissed too. The wealth gap, wages, unlimited RE investments, and foreign money in real estate are all screwing everyone who isn’t rich. If you’re not bitter, you’re either rich, a real estate agent, or not paying attention.

Nope. Just not an entitled a-hole who thinks that I deserve more.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our household income is 10 times what my father’s was when I was a teenager. Living here, what we can afford would buy is the same kind of condo he rented at the time. So despite the enormous income increase, my housing hasn’t improved in 40 years. You bet I’m bitter. Housing prices are insane and if I have to live in a crappy little place, all I’m asking is that it also not cost half my take home pay. But you have to spend a fortune AND live is a fixer upper here. That stings.

LOL. So move. Move to the Midwest. Move to Mexico. Move to anywhere where you can afford it. The reality is that population has increased, demand has increased, and COL has increased. You think that time stops for you? GTFO. Perhaps we could transport you back to 1960 and you'd be happier, yes?

F--ing adjust. All you whiners on here expect the WORLD but refuse to make any adjustments to lifestyle or expectations. If you're not lucky enough to be a trust fund kid, you're going to have to set more realistic expectations. Oh, and unplug from social media. You ladies will be much happier.

If you understood it was far more complicated than “the population increasing”, you’d be pissed too. The wealth gap, wages, unlimited RE investments, and foreign money in real estate are all screwing everyone who isn’t rich. If you’re not bitter, you’re either rich, a real estate agent, or not paying attention.

Move to a place that you can afford. I don't understand why people who are not rich keep complaining about trying to buy houses in cities that they cannot afford. I do not buy property in SF or LA because I cannot afford it (and don't want to live there). I DO live out in the suburbs and I DID start off living in a small townhome with DH and two kids. So no, I'm neither rich nor a RE agent. I'm just not self entitled. Everyone wants to live like their affluent but is super bitter when reality hits and they cannot. OP (and anyone else complaining about RE) could buy a home in Frederick, Burke, Bowie, Lorton, and potentially parts of Springfield or Annandale. But she won't do that because she can't brag about it on IG.

This is not difficult. If you're not rich, find things that you can afford - just like we did. Otherwise, keep crying about that house in McLean that you can't afford. LOL

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our household income is 10 times what my father’s was when I was a teenager. Living here, what we can afford would buy is the same kind of condo he rented at the time. So despite the enormous income increase, my housing hasn’t improved in 40 years. You bet I’m bitter. Housing prices are insane and if I have to live in a crappy little place, all I’m asking is that it also not cost half my take home pay. But you have to spend a fortune AND live is a fixer upper here. That stings.

LOL. So move. Move to the Midwest. Move to Mexico. Move to anywhere where you can afford it. The reality is that population has increased, demand has increased, and COL has increased. You think that time stops for you? GTFO. Perhaps we could transport you back to 1960 and you'd be happier, yes?

F--ing adjust. All you whiners on here expect the WORLD but refuse to make any adjustments to lifestyle or expectations. If you're not lucky enough to be a trust fund kid, you're going to have to set more realistic expectations. Oh, and unplug from social media. You ladies will be much happier.

If you understood it was far more complicated than “the population increasing”, you’d be pissed too. The wealth gap, wages, unlimited RE investments, and foreign money in real estate are all screwing everyone who isn’t rich. If you’re not bitter, you’re either rich, a real estate agent, or not paying attention.

Nope. Just not an entitled a-hole who thinks that I deserve more.

DP here, but foreign and corporate investors is a big problem here. We need to ban foreign investors from owning rental properties and limit rental properties (excluding apartments) owned by corporate investors, but no politicians are even discussing this. We keep picking at each other with manufactured distractions while the politicians screw us over for their own gain.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our household income is 10 times what my father’s was when I was a teenager. Living here, what we can afford would buy is the same kind of condo he rented at the time. So despite the enormous income increase, my housing hasn’t improved in 40 years. You bet I’m bitter. Housing prices are insane and if I have to live in a crappy little place, all I’m asking is that it also not cost half my take home pay. But you have to spend a fortune AND live is a fixer upper here. That stings.

LOL. So move. Move to the Midwest. Move to Mexico. Move to anywhere where you can afford it. The reality is that population has increased, demand has increased, and COL has increased. You think that time stops for you? GTFO. Perhaps we could transport you back to 1960 and you'd be happier, yes?

F--ing adjust. All you whiners on here expect the WORLD but refuse to make any adjustments to lifestyle or expectations. If you're not lucky enough to be a trust fund kid, you're going to have to set more realistic expectations. Oh, and unplug from social media. You ladies will be much happier.

If you understood it was far more complicated than “the population increasing”, you’d be pissed too. The wealth gap, wages, unlimited RE investments, and foreign money in real estate are all screwing everyone who isn’t rich. If you’re not bitter, you’re either rich, a real estate agent, or not paying attention.

Nope. Just not an entitled a-hole who thinks that I deserve more.

DP here, but foreign and corporate investors is a big problem here. We need to ban foreign investors from owning rental properties and limit rental properties (excluding apartments) owned by corporate investors, but no politicians are even discussing this. We keep picking at each other with manufactured distractions while the politicians screw us over for their own gain.

How much do you think "foreign and corporate investors" own in this area, as a percentage of SFH? How much do you think their ownership drives up prices?

The wealth gap is growing, but that has less to do with RE investors, and more to do with (a) the fact that women work in higher percentages at higher paying jobs than 40 years ago, (b) changes to government policies (taxes, mortgage funding, other things) starting in the 80s that have made people who started investing and buying real estate in the 80s very rich, and (c) corporate consolidation that has driven wealth up the chain. If you have been successful in the private sector for decades, you are probably doing very well, and have the money to buy a really nice house in this area, even with a job that is not Big Law partner or investment professional. If you are a successful investor or worked for decades in Big Law, you have tons of money. Likewise, younger lawyers, investment professionals, doctors, etc. have two large incomes becomes both parents work. That is a doubling of income. Hell, even two fed lawyers are making 350k as a family, with no real pressure or high achievement needed. A lot of people have a huge amount of money in this area, and there is a limited supply of nice SFH. It is foolish to blame it all on some foreigners coming in and buying houses. It is a much deeper societal change.

If you are not rolling in dough, it is best to either move to somewhere less expensive or adjust your expectations. Maybe you have one stay at home parent in the family. That's great! You have great child care for your kids and probably a more relaxed household (or at least you should). If you work a low paying job that you love, great! If you don't have a high stress, high hours job and can have time for hobbies and friends, great!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Our household income is 10 times what my father’s was when I was a teenager. Living here, what we can afford would buy is the same kind of condo he rented at the time. So despite the enormous income increase, my housing hasn’t improved in 40 years. You bet I’m bitter. Housing prices are insane and if I have to live in a crappy little place, all I’m asking is that it also not cost half my take home pay. But you have to spend a fortune AND live is a fixer upper here. That stings.

LOL. So move. Move to the Midwest. Move to Mexico. Move to anywhere where you can afford it. The reality is that population has increased, demand has increased, and COL has increased. You think that time stops for you? GTFO. Perhaps we could transport you back to 1960 and you'd be happier, yes?

F--ing adjust. All you whiners on here expect the WORLD but refuse to make any adjustments to lifestyle or expectations. If you're not lucky enough to be a trust fund kid, you're going to have to set more realistic expectations. Oh, and unplug from social media. You ladies will be much happier.

If you understood it was far more complicated than “the population increasing”, you’d be pissed too. The wealth gap, wages, unlimited RE investments, and foreign money in real estate are all screwing everyone who isn’t rich. If you’re not bitter, you’re either rich, a real estate agent, or not paying attention.

Sure this is true, but it’s also true that places change. Detroit used to be a fantastic city with a lot of wealth and great job market. Real estate on the coast in California used to be dirt cheap, especially when a Japanese invasion was feared during WW2.

Point is DC has become more desirable and a much larger job market then when you grew up. You can definitely buy less expensive real estate on a more middle class salary in other parts of the country. NW DC and Arlington are now suburbs for dual income high earners. I get these used to be MC neighborhoods, but they are not. My friend just bought a home in LA that was likely for a port worker or blue collar worker. She makes over a million a year and no blue collar worker could buy a house on the coast in California on their salary. Again places change.

[Anonymous]

Anonymous wrote:Our household income is 10 times what my father’s was when I was a teenager. Living here, what we can afford would buy is the same kind of condo he rented at the time. So despite the enormous income increase, my housing hasn’t improved in 40 years. You bet I’m bitter. Housing prices are insane and if I have to live in a crappy little place, all I’m asking is that it also not cost half my take home pay. But you have to spend a fortune AND live is a fixer upper here. That stings.

Look b00mer you have no idea what you've stolen from the younger generations so stfu

[Anonymous]

I haven’t read the entire thread but I totally understand where OP is coming from.

We started shopping for houses in late 2020/early 2021 with a budget of 900k and passed on a couple of houses that we could’ve bought.

Fast forward to summer 2022 and we finally bought a much lesser home for 900k with a 4 percent instead of 2.875 percent interest rate. And the houses we passed on in 2021, that were 900k when we passed on em, had inflated to 1.1 million dollars.

[Anonymous]

One has to ask, how many of the posters now lamenting their failure to buy earlier didn’t buy because they thought prices would fall. Just last summer, this forum was filled with threads about how interest rate increases would bring prices down 20 percent or more. Trying to time the market is always a fool’s errand.

[Anonymous]

Anonymous wrote:I haven’t read the entire thread but I totally understand where OP is coming from.

We started shopping for houses in late 2020/early 2021 with a budget of 900k and passed on a couple of houses that we could’ve bought.

Fast forward to summer 2022 and we finally bought a much lesser home for 900k with a 4 percent instead of 2.875 percent interest rate. And the houses we passed on in 2021, that were 900k when we passed on em, had inflated to 1.1 million dollars.

I think that what people struggle with is the "extremely depressed" part. Yes, you could have more under another set of facts, but this goes for so many things in life. And to be so fortunate yet expecting the world to be different for your sake is incredibly daft. So, yeah, I get it, but it doesn't mean it isn't a silly way to think.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Our household income is 10 times what my father’s was when I was a teenager. Living here, what we can afford would buy is the same kind of condo he rented at the time. So despite the enormous income increase, my housing hasn’t improved in 40 years. You bet I’m bitter. Housing prices are insane and if I have to live in a crappy little place, all I’m asking is that it also not cost half my take home pay. But you have to spend a fortune AND live is a fixer upper here. That stings.

LOL. So move. Move to the Midwest. Move to Mexico. Move to anywhere where you can afford it. The reality is that population has increased, demand has increased, and COL has increased. You think that time stops for you? GTFO. Perhaps we could transport you back to 1960 and you'd be happier, yes?

F--ing adjust. All you whiners on here expect the WORLD but refuse to make any adjustments to lifestyle or expectations. If you're not lucky enough to be a trust fund kid, you're going to have to set more realistic expectations. Oh, and unplug from social media. You ladies will be much happier.

Lmao.

Homeowners are the biggest whiners on the planet. They cry and cry and cry for the govt to artificially prop up the value of their homes through insanely restrictive zoning laws, demand all sorts of tax breaks, and other freebies. Why don't we get rid of zoning laws and allow the true free market to decide what your housing is really worth. Otherwise, STFU and stop suckling off the govt teat.

[Anonymous]

Anonymous wrote:One has to ask, how many of the posters now lamenting their failure to buy earlier didn’t buy because they thought prices would fall. Just last summer, this forum was filled with threads about how interest rate increases would bring prices down 20 percent or more. Trying to time the market is always a fool’s errand.

This 1000%. I remember those posters, gleefully stating that anyone who were buying at the “inflated” 2021 prices were dumb, stupid and foolish. Now, some of them are on this thread complaining and in need of understanding for missing the boat.