If you're not rich, are you just screwed?

[Anonymous]

Seems like it. Any survivor stories of the DC area real estate market out there?

[Anonymous]

Yes.

[Anonymous]

I think people need to up their price and lower expectations, we know someone who just bought a 690 k sister home on a government salary.

[Anonymous]

Anonymous wrote:I think people need to up their price and lower expectations, we know someone who just bought a 690 k sister home on a government salary.

starter not sister

[Anonymous]

and they say this forum is not trolled by real estate agents...

[Anonymous]

EVERYONE is screwed....w/ what Obama is doing to taxes, there aren't going ot be any "rich" people left. Our economy is totally falling apart!

[Anonymous]

Anonymous wrote:I think people need to up their price and lower expectations, we know someone who just bought a 690 k sister home on a government salary.

are they in the SES or a congressman?

[Anonymous]

I think people need to keep their discipline and lower their expectatons in terms of sqft/SFH.

White picket fence, .5 acre, 4br/2.5bath, sub 15 years old, 2000 sq.ft is not the american dream.

[Anonymous]

I think its just easier to be rich than to worry about not being rich.

[Anonymous]

Anonymous wrote:EVERYONE is screwed....w/ what Obama is doing to taxes, there aren't going ot be any "rich" people left. Our economy is totally falling apart!

ash, yes, because the previous 30ish years of destroying the middle class have no effect whatsoever on the current crappy economy.

[Anonymous]

We bought 4-5 years ago, are both self employed so qualifying was a bit of a nightmare but we did it and bought a rowhouse in DC in need of some TLC for under 500K. Looks great now and is in a neighborhood that is transitional but changing very rapidly and all of our home values are skyrocketing right now.
So I think it can be done but you need to be willing to give a little and it might not be perfect at first. Our first 6 mo here were rough and I wondered whether we would be happy but now that time has passed, neighborhood has grown, and reno has happened little by little, we are truly very happy. And I dont consider us rich at all.

[Anonymous]

the state department 2 incomes of about 160k starter home for close to 700k but they did save up for a long time while over seas so prices aren't that out of wack.

[Anonymous]

you need to change your expectations and not listen to people who are not exposed to the real world
we bought a 1400sq cape cod with a small yard in Silver Spring (Four Corners area).
I was dreading it at 1st because it wasn't a beautiful home in a sought after area like Bethesda
Guess what? Our house ended up being bigger than we needed, our yard is as big as we need it to be. The neighborhood is wonderful, our school is great. We are 3 minutes off 495 and we have many amenities in walking distance. we are 15 minutes from dc or va and less than a mile from Metro.
Our neighbors are down to earth, friendly people. We had bought this as our starter home, but after 6 years we are planning on staying here as long as possible.
Some people on this forum would have you believe that Silver Spring is this crime-ridden dump but it is actually great. Our friends from our neighborhood are doctors, lawyers, and scientists so its not what it seems!

[Anonymous]

to 15:22, to many people, Silver Spring is out of reach. We could never afford a SFH in Silver Spring, and my husband and I are both professionals nearing 40 who have graduate degrees and no children. And there's still no way we could afford it.

These threads just prove to me how many people in this area live in a bubble.

[Anonymous]

Anonymous wrote:I think people need to up their price and lower expectations, we know someone who just bought a 690 k sister home on a government salary.

this line of thinking, encouraged by real estate agents, is what caused the problem in the first place.