I was so close and now I’m shut out

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So much of this thread reeks of UMC people who could "only" afford $700k in 2020, were locked out of the White schools - oops, sorry I meant W schools - and are insecure and lashing out at someone who has a little more money than they do.

I don’t really even know what this comment is trying to say or who it’s directed to.

But that is one of the points being made - OP is complaining to people who have far less than she does, saying a $1 million house is not good enough, which is what is rubbing folks the wrong way, especially if they live in a $700k house and are doing just fine.

It’s just over the top dramatic to whine that those people all live in hovels she would never deign to buy, therefore she is destined to be middle class forever (boo hoo).

What is over the top dramatic is to claim OP ever said anyone is living '"in hovels".

Well clearly they aren’t good enough for her, however she wants to describe them.

Why don't you live in a $300k home? Clearly by living in something more expensive you are implicitly calling all cheaper homes "hovels"

How do you know I don’t live in a $300k home??

Because if you did, you wouldn't be asking me how I know you don't.

I live in a home that is cheap, small, and would definitely be scoffed at by OP. So it’s a bit rich to hear the whining about a million dollar house. But whatever, I have a little house and I’m satisfied with it. Learning to be happy with what you have is one of life’s greatest gifts you can give yourself, OP.

So what is it PP? $700K?

Btw there is something bizarre about how you all are characterizing OP's posts when, AFAIK, she hasn't scoffed at anything. She's said what she wants and is disappointed she can't have it. If someone trained to be a lawyer and then could only get a paralegal job and was disappointed by that, would you also say they are "scoffing" at paralegals?

Yes, lots of people taking this personally. I’m afraid they would tell the lawyer (especially if she’s a woman) to “just be grateful she has a job, she’s so entitled for wanting more.”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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Feel free to share any 2021 articles or clips of any news broadcast that suggested to buyers that they should buy ASAP before interest rates go up. What I saw in the news was more along the lines of: https://www.cnn.com/2021/06/16/homes/us-housing-market-offers/index.html

What do homebuyers have to do to get a house in this cutthroat real estate market? Offer sellers a Caribbean vacation? Bid $1 million over the asking price? Pay a competing bidder hundreds of thousands of dollars to walk away?

What about buying two homes just to live in one?

Here you go:
https://www.sfgate.com/realestate/article/Sound-Off-Why-are-interest-rates-so-low-and-how-15820006.php

The article literally ends with this sentence:
"If you haven’t taken advantage of these low rates I suggest you reach out to your lender and get the process started, you’ll be happy you did."

The one article from 2020 that you found includes the following:

Interest rates are likely to stay low for years as the economy fights its way back from the coronavirus pandemic, according to Federal Reserve Chairman Jerome Powell. He was quoted as saying “We think that the economy’s going to need low interest rates, which support economic activity for an extended period of time—it will be measured in years. However long it takes, we’re going to be there—we’re not going to prematurely withdraw the support that we think the economy needs.”

It looks like buyers will have access to low rates for years to come......perhaps not as low as they are now, but very low from a historical standpoint.

They did stay low and they are still low by historical standards.

You're really reaching here. None of the above (including the one article you found from 2020 - when I asked for 2021 - from a local publication across the country, in which it clearly conveys that interest rates will remain low for "years") suggests buyers should have reasonably been able to predict the largest and most rapid increase in interest rates since the early 1980s.

By the end of 2021, the writing was on the wall. In early 2022, the fed signalled it would likely raise rates at each of the remaining meetings last year. If you were on the sidelines, should’ve jumped in. Many others did.

We did jump in and buy in 2021, thanks for your concern. As someone who made the right choice in your mind, I can tell you it had nothing to do with what we predicted with respect to the market or interest rates. We really just needed a house. We went in believing we were buying at the worst possible time. News reports about the market were all over the place. Many people thought once interest rates went up, prices would go down. That hasn't happened yet.

A close friend who sat out the market in 2021 was thinking of sitting it out again in 2022. I as a non-expert who happened to be reading a lot of articles about real estate didn't say "get in now, the fed has signalled they will raise interest rates". I said, "Unless you think there is going to be a large increase in housing supply in your city, things are not going to get better for buyers". I had zero awareness of what was going on with interest rates. I'm obviously not saying that to brag. It's just preposterous to expect regular buyers to be able to predict how rises in interest rates will impact their ability to buy a home, and when.

“Preposterous?” Really? As a buyer, one of my main considerations was interest rates!

Okay? If you can predict the exact timing and degree of rate increases and how specifically that will impact home prices in your target neighborhood, and when, then you are in a very, very small (nonexistent) group of buyers.

A lot of people knew that increased rates, which were telegraphed by the Fed, would lead to costlier mortgages. Rates were around what they are now before 2008, when the Fed started keeping the economy afloat with record low rates. A lot of people on here need to pay more attention to financial news than the latest news about Trump or Biden. Too much of people’s bandwith is consumed obsessing over things that are out of there control.

Exactly. Buying a house is most people’s biggest expense/asset, so to say “I paid no attention to interest rates and financial news” seems absurd.

It is really easy to make up a statement nobody said and call it absurd. Good job.

It is one thing to look up interest rates to figure out what your monthly payment will be. It is another to claim to have said" I definitely need to buy in 2021 because the market will go bananas in early 2022 when the Fed starts raising interest rates which will double by 2023."

If you were sitting on the sidelines in 2021 and you heard in early 2022 that the fed was going to raise rates multiple times throughout the rest of the year, why not buy?

Because winning offers were all cash, waiving inspections and appraisals. We didn’t even have 20% down. We couldn’t take the financial risk of waiving inspection. We couldn’t pay the difference of an appraisal. Sellers don’t like our loan and all buyers were competing against investors. But let me guess, you’re one of the people calling us entitled?

Okay so sounds like you couldn’t afford what you wanted. Just like OP.

Did you eventually adjust your expectations and buy a place within your budget?

Woosh.

Yes. Completely missing the point. You have to be in the position to buy - and compete with all cash investors. The market has not been normal here for years. Tell me, what is in someone’s budget when they can’t use a loan?

But that’s clearly not OP’s case. She said she was so close and just didn’t pull the trigger. She said she could have afforded a loan at a lower rate. She didn’t say she made offers and was beat out by cash offers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So much of this thread reeks of UMC people who could "only" afford $700k in 2020, were locked out of the White schools - oops, sorry I meant W schools - and are insecure and lashing out at someone who has a little more money than they do.

I don’t really even know what this comment is trying to say or who it’s directed to.

But that is one of the points being made - OP is complaining to people who have far less than she does, saying a $1 million house is not good enough, which is what is rubbing folks the wrong way, especially if they live in a $700k house and are doing just fine.

It’s just over the top dramatic to whine that those people all live in hovels she would never deign to buy, therefore she is destined to be middle class forever (boo hoo).

What is over the top dramatic is to claim OP ever said anyone is living '"in hovels".

Well clearly they aren’t good enough for her, however she wants to describe them.

Why don't you live in a $300k home? Clearly by living in something more expensive you are implicitly calling all cheaper homes "hovels"

How do you know I don’t live in a $300k home??

Because if you did, you wouldn't be asking me how I know you don't.

I live in a home that is cheap, small, and would definitely be scoffed at by OP. So it’s a bit rich to hear the whining about a million dollar house. But whatever, I have a little house and I’m satisfied with it. Learning to be happy with what you have is one of life’s greatest gifts you can give yourself, OP.

So what is it PP? $700K?

Btw there is something bizarre about how you all are characterizing OP's posts when, AFAIK, she hasn't scoffed at anything. She's said what she wants and is disappointed she can't have it. If someone trained to be a lawyer and then could only get a paralegal job and was disappointed by that, would you also say they are "scoffing" at paralegals?

Yes, lots of people taking this personally. I’m afraid they would tell the lawyer (especially if she’s a woman) to “just be grateful she has a job, she’s so entitled for wanting more.”

That’s not the proper analogy. It’s more like she got her law degree, got offered a $250k salary, declined it to hold out for a better offer, but then the economy tanked and now she can only get $200k or $150k. Is she justified in being upset? Sure! But does it sound tone deaf to complain to her secretary about only making $200k when her secretary makes half of that and would’ve liked to go to law school but could never afford it? Also yes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Feel free to share any 2021 articles or clips of any news broadcast that suggested to buyers that they should buy ASAP before interest rates go up. What I saw in the news was more along the lines of: https://www.cnn.com/2021/06/16/homes/us-housing-market-offers/index.html

What do homebuyers have to do to get a house in this cutthroat real estate market? Offer sellers a Caribbean vacation? Bid $1 million over the asking price? Pay a competing bidder hundreds of thousands of dollars to walk away?

What about buying two homes just to live in one?

Here you go:
https://www.sfgate.com/realestate/article/Sound-Off-Why-are-interest-rates-so-low-and-how-15820006.php

The article literally ends with this sentence:
"If you haven’t taken advantage of these low rates I suggest you reach out to your lender and get the process started, you’ll be happy you did."

The one article from 2020 that you found includes the following:

Interest rates are likely to stay low for years as the economy fights its way back from the coronavirus pandemic, according to Federal Reserve Chairman Jerome Powell. He was quoted as saying “We think that the economy’s going to need low interest rates, which support economic activity for an extended period of time—it will be measured in years. However long it takes, we’re going to be there—we’re not going to prematurely withdraw the support that we think the economy needs.”

It looks like buyers will have access to low rates for years to come......perhaps not as low as they are now, but very low from a historical standpoint.

They did stay low and they are still low by historical standards.

You're really reaching here. None of the above (including the one article you found from 2020 - when I asked for 2021 - from a local publication across the country, in which it clearly conveys that interest rates will remain low for "years") suggests buyers should have reasonably been able to predict the largest and most rapid increase in interest rates since the early 1980s.

By the end of 2021, the writing was on the wall. In early 2022, the fed signalled it would likely raise rates at each of the remaining meetings last year. If you were on the sidelines, should’ve jumped in. Many others did.

We did jump in and buy in 2021, thanks for your concern. As someone who made the right choice in your mind, I can tell you it had nothing to do with what we predicted with respect to the market or interest rates. We really just needed a house. We went in believing we were buying at the worst possible time. News reports about the market were all over the place. Many people thought once interest rates went up, prices would go down. That hasn't happened yet.

A close friend who sat out the market in 2021 was thinking of sitting it out again in 2022. I as a non-expert who happened to be reading a lot of articles about real estate didn't say "get in now, the fed has signalled they will raise interest rates". I said, "Unless you think there is going to be a large increase in housing supply in your city, things are not going to get better for buyers". I had zero awareness of what was going on with interest rates. I'm obviously not saying that to brag. It's just preposterous to expect regular buyers to be able to predict how rises in interest rates will impact their ability to buy a home, and when.

“Preposterous?” Really? As a buyer, one of my main considerations was interest rates!

Okay? If you can predict the exact timing and degree of rate increases and how specifically that will impact home prices in your target neighborhood, and when, then you are in a very, very small (nonexistent) group of buyers.

A lot of people knew that increased rates, which were telegraphed by the Fed, would lead to costlier mortgages. Rates were around what they are now before 2008, when the Fed started keeping the economy afloat with record low rates. A lot of people on here need to pay more attention to financial news than the latest news about Trump or Biden. Too much of people’s bandwith is consumed obsessing over things that are out of there control.

Exactly. Buying a house is most people’s biggest expense/asset, so to say “I paid no attention to interest rates and financial news” seems absurd.

It is really easy to make up a statement nobody said and call it absurd. Good job.

It is one thing to look up interest rates to figure out what your monthly payment will be. It is another to claim to have said" I definitely need to buy in 2021 because the market will go bananas in early 2022 when the Fed starts raising interest rates which will double by 2023."

If you were sitting on the sidelines in 2021 and you heard in early 2022 that the fed was going to raise rates multiple times throughout the rest of the year, why not buy?

OP, and you clearly did not participate in the 2022 market. SFHs at $1M closed at $1.4M. Those at $1.2M closed at $1.6-1.8M.

+1
And all cash. No contingencies. No appraisals. No inspections.

The people who benefited most from the low interest rates were those of you who already had a mortgage.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So much of this thread reeks of UMC people who could "only" afford $700k in 2020, were locked out of the White schools - oops, sorry I meant W schools - and are insecure and lashing out at someone who has a little more money than they do.

I don’t really even know what this comment is trying to say or who it’s directed to.

But that is one of the points being made - OP is complaining to people who have far less than she does, saying a $1 million house is not good enough, which is what is rubbing folks the wrong way, especially if they live in a $700k house and are doing just fine.

It’s just over the top dramatic to whine that those people all live in hovels she would never deign to buy, therefore she is destined to be middle class forever (boo hoo).

What is over the top dramatic is to claim OP ever said anyone is living '"in hovels".

Well clearly they aren’t good enough for her, however she wants to describe them.

Why don't you live in a $300k home? Clearly by living in something more expensive you are implicitly calling all cheaper homes "hovels"

How do you know I don’t live in a $300k home??

Because if you did, you wouldn't be asking me how I know you don't.

I live in a home that is cheap, small, and would definitely be scoffed at by OP. So it’s a bit rich to hear the whining about a million dollar house. But whatever, I have a little house and I’m satisfied with it. Learning to be happy with what you have is one of life’s greatest gifts you can give yourself, OP.

So what is it PP? $700K?

Btw there is something bizarre about how you all are characterizing OP's posts when, AFAIK, she hasn't scoffed at anything. She's said what she wants and is disappointed she can't have it. If someone trained to be a lawyer and then could only get a paralegal job and was disappointed by that, would you also say they are "scoffing" at paralegals?

Yes, lots of people taking this personally. I’m afraid they would tell the lawyer (especially if she’s a woman) to “just be grateful she has a job, she’s so entitled for wanting more.”

You're right. A much more productive response would have been,

"OP, I'm sorry. That must be tough. I really feel for you that you you could have bought a $1.2m house recently, but didn't, and now the price of that house has gone up. And interest rates have risen, too! They're no longer at historic lows. I bet you can only afford a $1m house these days. That's really, really hard. Are your kids handling it ok? And you? Family therapy might be a good idea to get you all through this difficult time. Also, have you considered a GoFundMe page? I bet a lot of people would want to help you and your family get that $1.7m house you believe you deserve. It's horrific that your kids would have to endure living in a $1m property. Thoughts and prayers, OP."

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So much of this thread reeks of UMC people who could "only" afford $700k in 2020, were locked out of the White schools - oops, sorry I meant W schools - and are insecure and lashing out at someone who has a little more money than they do.

I don’t really even know what this comment is trying to say or who it’s directed to.

But that is one of the points being made - OP is complaining to people who have far less than she does, saying a $1 million house is not good enough, which is what is rubbing folks the wrong way, especially if they live in a $700k house and are doing just fine.

It’s just over the top dramatic to whine that those people all live in hovels she would never deign to buy, therefore she is destined to be middle class forever (boo hoo).

What is over the top dramatic is to claim OP ever said anyone is living '"in hovels".

Well clearly they aren’t good enough for her, however she wants to describe them.

Why don't you live in a $300k home? Clearly by living in something more expensive you are implicitly calling all cheaper homes "hovels"

How do you know I don’t live in a $300k home??

Because if you did, you wouldn't be asking me how I know you don't.

I live in a home that is cheap, small, and would definitely be scoffed at by OP. So it’s a bit rich to hear the whining about a million dollar house. But whatever, I have a little house and I’m satisfied with it. Learning to be happy with what you have is one of life’s greatest gifts you can give yourself, OP.

So what is it PP? $700K?

Btw there is something bizarre about how you all are characterizing OP's posts when, AFAIK, she hasn't scoffed at anything. She's said what she wants and is disappointed she can't have it. If someone trained to be a lawyer and then could only get a paralegal job and was disappointed by that, would you also say they are "scoffing" at paralegals?

How many times has it been said that we all understand her frustration.

How many times has it also been said there are still many homes on the market she could buy.

Whether she actually scoffs at them or just doesn’t want them, whatever, it’s her life.

But for many people living in cheaper housing, they just can’t muster sympathy for not being able to afford a $1.7 million home. Sorry.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So much of this thread reeks of UMC people who could "only" afford $700k in 2020, were locked out of the White schools - oops, sorry I meant W schools - and are insecure and lashing out at someone who has a little more money than they do.

I don’t really even know what this comment is trying to say or who it’s directed to.

But that is one of the points being made - OP is complaining to people who have far less than she does, saying a $1 million house is not good enough, which is what is rubbing folks the wrong way, especially if they live in a $700k house and are doing just fine.

It’s just over the top dramatic to whine that those people all live in hovels she would never deign to buy, therefore she is destined to be middle class forever (boo hoo).

What is over the top dramatic is to claim OP ever said anyone is living '"in hovels".

Well clearly they aren’t good enough for her, however she wants to describe them.

Why don't you live in a $300k home? Clearly by living in something more expensive you are implicitly calling all cheaper homes "hovels"

How do you know I don’t live in a $300k home??

Because if you did, you wouldn't be asking me how I know you don't.

I live in a home that is cheap, small, and would definitely be scoffed at by OP. So it’s a bit rich to hear the whining about a million dollar house. But whatever, I have a little house and I’m satisfied with it. Learning to be happy with what you have is one of life’s greatest gifts you can give yourself, OP.

So what is it PP? $700K?

Btw there is something bizarre about how you all are characterizing OP's posts when, AFAIK, she hasn't scoffed at anything. She's said what she wants and is disappointed she can't have it. If someone trained to be a lawyer and then could only get a paralegal job and was disappointed by that, would you also say they are "scoffing" at paralegals?

Yes, lots of people taking this personally. I’m afraid they would tell the lawyer (especially if she’s a woman) to “just be grateful she has a job, she’s so entitled for wanting more.”

That’s not the proper analogy. It’s more like she got her law degree, got offered a $250k salary, declined it to hold out for a better offer, but then the economy tanked and now she can only get $200k or $150k. Is she justified in being upset? Sure! But does it sound tone deaf to complain to her secretary about only making $200k when her secretary makes half of that and would’ve liked to go to law school but could never afford it? Also yes.

Actually the better analogy would be OP then dropping out of the labor market entirely because she couldn’t land that high paying job. Then being unemployed and complaining to her former secretary or paralegal that she was “shut out” even though she still possesses the skills to make twice as much (but apparently thinks it’s not worth it).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So much of this thread reeks of UMC people who could "only" afford $700k in 2020, were locked out of the White schools - oops, sorry I meant W schools - and are insecure and lashing out at someone who has a little more money than they do.

I don’t really even know what this comment is trying to say or who it’s directed to.

But that is one of the points being made - OP is complaining to people who have far less than she does, saying a $1 million house is not good enough, which is what is rubbing folks the wrong way, especially if they live in a $700k house and are doing just fine.

It’s just over the top dramatic to whine that those people all live in hovels she would never deign to buy, therefore she is destined to be middle class forever (boo hoo).

What is over the top dramatic is to claim OP ever said anyone is living '"in hovels".

Well clearly they aren’t good enough for her, however she wants to describe them.

Why don't you live in a $300k home? Clearly by living in something more expensive you are implicitly calling all cheaper homes "hovels"

How do you know I don’t live in a $300k home??

Because if you did, you wouldn't be asking me how I know you don't.

I live in a home that is cheap, small, and would definitely be scoffed at by OP. So it’s a bit rich to hear the whining about a million dollar house. But whatever, I have a little house and I’m satisfied with it. Learning to be happy with what you have is one of life’s greatest gifts you can give yourself, OP.

So what is it PP? $700K?

Btw there is something bizarre about how you all are characterizing OP's posts when, AFAIK, she hasn't scoffed at anything. She's said what she wants and is disappointed she can't have it. If someone trained to be a lawyer and then could only get a paralegal job and was disappointed by that, would you also say they are "scoffing" at paralegals?

Yes, lots of people taking this personally. I’m afraid they would tell the lawyer (especially if she’s a woman) to “just be grateful she has a job, she’s so entitled for wanting more.”

Totally. Btw this exact scenario did occur in the early 1990s and lawyers complained incessantly. Probably the same ones now in $3M homes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So much of this thread reeks of UMC people who could "only" afford $700k in 2020, were locked out of the White schools - oops, sorry I meant W schools - and are insecure and lashing out at someone who has a little more money than they do.

I don’t really even know what this comment is trying to say or who it’s directed to.

But that is one of the points being made - OP is complaining to people who have far less than she does, saying a $1 million house is not good enough, which is what is rubbing folks the wrong way, especially if they live in a $700k house and are doing just fine.

It’s just over the top dramatic to whine that those people all live in hovels she would never deign to buy, therefore she is destined to be middle class forever (boo hoo).

What is over the top dramatic is to claim OP ever said anyone is living '"in hovels".

Well clearly they aren’t good enough for her, however she wants to describe them.

Why don't you live in a $300k home? Clearly by living in something more expensive you are implicitly calling all cheaper homes "hovels"

How do you know I don’t live in a $300k home??

Because if you did, you wouldn't be asking me how I know you don't.

I live in a home that is cheap, small, and would definitely be scoffed at by OP. So it’s a bit rich to hear the whining about a million dollar house. But whatever, I have a little house and I’m satisfied with it. Learning to be happy with what you have is one of life’s greatest gifts you can give yourself, OP.

So what is it PP? $700K?

Btw there is something bizarre about how you all are characterizing OP's posts when, AFAIK, she hasn't scoffed at anything. She's said what she wants and is disappointed she can't have it. If someone trained to be a lawyer and then could only get a paralegal job and was disappointed by that, would you also say they are "scoffing" at paralegals?

Yes, lots of people taking this personally. I’m afraid they would tell the lawyer (especially if she’s a woman) to “just be grateful she has a job, she’s so entitled for wanting more.”

That’s not the proper analogy. It’s more like she got her law degree, got offered a $250k salary, declined it to hold out for a better offer, but then the economy tanked and now she can only get $200k or $150k. Is she justified in being upset? Sure! But does it sound tone deaf to complain to her secretary about only making $200k when her secretary makes half of that and would’ve liked to go to law school but could never afford it? Also yes.

Actually the better analogy would be OP then dropping out of the labor market entirely because she couldn’t land that high paying job. Then being unemployed and complaining to her former secretary or paralegal that she was “shut out” even though she still possesses the skills to make twice as much (but apparently thinks it’s not worth it).

OMG you are not seriously trying to convince anyone that DCUM posters are in any way analogous to "her secretary"

Clearly OP is still participating in the housing market as she is paying rent. Don't be ridiculous.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Can we all agree that it's majorly tone deaf to complain that you can't afford a $1.7 Million dollar house? I mean COME ON. There are plenty of houses that someone can afford $1.3 Million at these interest rates (OP DID say that she could afford a $1.3 Million house now, not a $1.7 Million one) can buy that are still very nice and decent commuting distance to DC.

Yes, this is exactly the point. Sure, you can be sad that you can't get as much as before, but you can still get a house if that is your priority.

Ding, ding, ding. And this is why so many people on this board are annoyed. OP's not complaining that she only has $500K to spend and can't find a SFH within a 30 minute commute of DC because she's a single mom and needs to be able to easily get home for her kids. I would have so much sympathy for someone in that situation complaining about being shut out of the market. It's a tough situation. The reality is that for $1.3 Million, OP can find a decent house within easy commuting distance of DC. I know she can, I'm doing it now -- finding decent options around $1 Million where my commute will be 30 minutes. Are they new construction 5BR,4BA with a gourmet kitchen and sunroom? No, but they're solidly built, four bedrooms plus a rec room, new-ish kitchens and bathrooms and plenty of space for my family of four in good school districts.

+1

Still don’t see the issue with OP buying a $1 mil house now.

Because OP doesn’t want to compromise on location, schools, size, or condition of the home. OP is “dream home or bust.” But that only works when you are rich enough to pay all cash and are not sensitive to interest rates.

For the rest of us plebes, we need equity gains in order to trade up to the dream home.

This.

I bought recently, in cash. I compromised on condition, size, and some amenities - layout, natural light (not having an extra window in the living room), and in unit washer and dryer. However, I got the neighborhood, location, schools that I wanted. I was lucky too because the place I bought had 4 other offers.

[Anonymous]

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Anonymous wrote:So much of this thread reeks of UMC people who could "only" afford $700k in 2020, were locked out of the White schools - oops, sorry I meant W schools - and are insecure and lashing out at someone who has a little more money than they do.

I don’t really even know what this comment is trying to say or who it’s directed to.

But that is one of the points being made - OP is complaining to people who have far less than she does, saying a $1 million house is not good enough, which is what is rubbing folks the wrong way, especially if they live in a $700k house and are doing just fine.

It’s just over the top dramatic to whine that those people all live in hovels she would never deign to buy, therefore she is destined to be middle class forever (boo hoo).

What is over the top dramatic is to claim OP ever said anyone is living '"in hovels".

Well clearly they aren’t good enough for her, however she wants to describe them.

Why don't you live in a $300k home? Clearly by living in something more expensive you are implicitly calling all cheaper homes "hovels"

How do you know I don’t live in a $300k home??

Because if you did, you wouldn't be asking me how I know you don't.

I live in a home that is cheap, small, and would definitely be scoffed at by OP. So it’s a bit rich to hear the whining about a million dollar house. But whatever, I have a little house and I’m satisfied with it. Learning to be happy with what you have is one of life’s greatest gifts you can give yourself, OP.

So what is it PP? $700K?

Btw there is something bizarre about how you all are characterizing OP's posts when, AFAIK, she hasn't scoffed at anything. She's said what she wants and is disappointed she can't have it. If someone trained to be a lawyer and then could only get a paralegal job and was disappointed by that, would you also say they are "scoffing" at paralegals?

Yes, lots of people taking this personally. I’m afraid they would tell the lawyer (especially if she’s a woman) to “just be grateful she has a job, she’s so entitled for wanting more.”

That’s not the proper analogy. It’s more like she got her law degree, got offered a $250k salary, declined it to hold out for a better offer, but then the economy tanked and now she can only get $200k or $150k. Is she justified in being upset? Sure! But does it sound tone deaf to complain to her secretary about only making $200k when her secretary makes half of that and would’ve liked to go to law school but could never afford it? Also yes.

Actually the better analogy would be OP then dropping out of the labor market entirely because she couldn’t land that high paying job. Then being unemployed and complaining to her former secretary or paralegal that she was “shut out” even though she still possesses the skills to make twice as much (but apparently thinks it’s not worth it).

OMG you are not seriously trying to convince anyone that DCUM posters are in any way analogous to "her secretary"

Clearly OP is still participating in the housing market as she is paying rent. Don't be ridiculous.

Not everyone here is rich!! Jeez.

OP herself is the one who said she was shut out.

[Anonymous]

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Anonymous wrote:

Anonymous wrote:So much of this thread reeks of UMC people who could "only" afford $700k in 2020, were locked out of the White schools - oops, sorry I meant W schools - and are insecure and lashing out at someone who has a little more money than they do.

I don’t really even know what this comment is trying to say or who it’s directed to.

But that is one of the points being made - OP is complaining to people who have far less than she does, saying a $1 million house is not good enough, which is what is rubbing folks the wrong way, especially if they live in a $700k house and are doing just fine.

It’s just over the top dramatic to whine that those people all live in hovels she would never deign to buy, therefore she is destined to be middle class forever (boo hoo).

What is over the top dramatic is to claim OP ever said anyone is living '"in hovels".

Well clearly they aren’t good enough for her, however she wants to describe them.

Why don't you live in a $300k home? Clearly by living in something more expensive you are implicitly calling all cheaper homes "hovels"

How do you know I don’t live in a $300k home??

Because if you did, you wouldn't be asking me how I know you don't.

I live in a home that is cheap, small, and would definitely be scoffed at by OP. So it’s a bit rich to hear the whining about a million dollar house. But whatever, I have a little house and I’m satisfied with it. Learning to be happy with what you have is one of life’s greatest gifts you can give yourself, OP.

So what is it PP? $700K?

Btw there is something bizarre about how you all are characterizing OP's posts when, AFAIK, she hasn't scoffed at anything. She's said what she wants and is disappointed she can't have it. If someone trained to be a lawyer and then could only get a paralegal job and was disappointed by that, would you also say they are "scoffing" at paralegals?

Yes, lots of people taking this personally. I’m afraid they would tell the lawyer (especially if she’s a woman) to “just be grateful she has a job, she’s so entitled for wanting more.”

That’s not the proper analogy. It’s more like she got her law degree, got offered a $250k salary, declined it to hold out for a better offer, but then the economy tanked and now she can only get $200k or $150k. Is she justified in being upset? Sure! But does it sound tone deaf to complain to her secretary about only making $200k when her secretary makes half of that and would’ve liked to go to law school but could never afford it? Also yes.

Actually the better analogy would be OP then dropping out of the labor market entirely because she couldn’t land that high paying job. Then being unemployed and complaining to her former secretary or paralegal that she was “shut out” even though she still possesses the skills to make twice as much (but apparently thinks it’s not worth it).

OMG you are not seriously trying to convince anyone that DCUM posters are in any way analogous to "her secretary"

Clearly OP is still participating in the housing market as she is paying rent. Don't be ridiculous.

Not everyone here is rich!! Jeez.

OP herself is the one who said she was shut out.

She said she was shut out of the UMC, not the housing market. She’s not wrong. The housing market has no bottom. But there is a floor to the UMC.

[Anonymous]

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So much of this thread reeks of UMC people who could "only" afford $700k in 2020, were locked out of the White schools - oops, sorry I meant W schools - and are insecure and lashing out at someone who has a little more money than they do.

I don’t really even know what this comment is trying to say or who it’s directed to.

But that is one of the points being made - OP is complaining to people who have far less than she does, saying a $1 million house is not good enough, which is what is rubbing folks the wrong way, especially if they live in a $700k house and are doing just fine.

It’s just over the top dramatic to whine that those people all live in hovels she would never deign to buy, therefore she is destined to be middle class forever (boo hoo).

What is over the top dramatic is to claim OP ever said anyone is living '"in hovels".

Well clearly they aren’t good enough for her, however she wants to describe them.

Why don't you live in a $300k home? Clearly by living in something more expensive you are implicitly calling all cheaper homes "hovels"

How do you know I don’t live in a $300k home??

Because if you did, you wouldn't be asking me how I know you don't.

I live in a home that is cheap, small, and would definitely be scoffed at by OP. So it’s a bit rich to hear the whining about a million dollar house. But whatever, I have a little house and I’m satisfied with it. Learning to be happy with what you have is one of life’s greatest gifts you can give yourself, OP.

So what is it PP? $700K?

Btw there is something bizarre about how you all are characterizing OP's posts when, AFAIK, she hasn't scoffed at anything. She's said what she wants and is disappointed she can't have it. If someone trained to be a lawyer and then could only get a paralegal job and was disappointed by that, would you also say they are "scoffing" at paralegals?

Yes, lots of people taking this personally. I’m afraid they would tell the lawyer (especially if she’s a woman) to “just be grateful she has a job, she’s so entitled for wanting more.”

That’s not the proper analogy. It’s more like she got her law degree, got offered a $250k salary, declined it to hold out for a better offer, but then the economy tanked and now she can only get $200k or $150k. Is she justified in being upset? Sure! But does it sound tone deaf to complain to her secretary about only making $200k when her secretary makes half of that and would’ve liked to go to law school but could never afford it? Also yes.

Actually the better analogy would be OP then dropping out of the labor market entirely because she couldn’t land that high paying job. Then being unemployed and complaining to her former secretary or paralegal that she was “shut out” even though she still possesses the skills to make twice as much (but apparently thinks it’s not worth it).

OMG you are not seriously trying to convince anyone that DCUM posters are in any way analogous to "her secretary"

Clearly OP is still participating in the housing market as she is paying rent. Don't be ridiculous.

Not everyone here is rich!! Jeez.

OP herself is the one who said she was shut out.

She said she was shut out of the UMC, not the housing market. She’s not wrong. The housing market has no bottom. But there is a floor to the UMC.

So all this whining is because she is losing her chance to be categorised as “UMC,” an arbitrary designation that no one can definitively agree on? Christ! Get some real problems lady.

[Anonymous]

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Anonymous wrote:Can we all agree that it's majorly tone deaf to complain that you can't afford a $1.7 Million dollar house? I mean COME ON. There are plenty of houses that someone can afford $1.3 Million at these interest rates (OP DID say that she could afford a $1.3 Million house now, not a $1.7 Million one) can buy that are still very nice and decent commuting distance to DC.

Yes, this is exactly the point. Sure, you can be sad that you can't get as much as before, but you can still get a house if that is your priority.

Ding, ding, ding. And this is why so many people on this board are annoyed. OP's not complaining that she only has $500K to spend and can't find a SFH within a 30 minute commute of DC because she's a single mom and needs to be able to easily get home for her kids. I would have so much sympathy for someone in that situation complaining about being shut out of the market. It's a tough situation. The reality is that for $1.3 Million, OP can find a decent house within easy commuting distance of DC. I know she can, I'm doing it now -- finding decent options around $1 Million where my commute will be 30 minutes. Are they new construction 5BR,4BA with a gourmet kitchen and sunroom? No, but they're solidly built, four bedrooms plus a rec room, new-ish kitchens and bathrooms and plenty of space for my family of four in good school districts.

+1

Still don’t see the issue with OP buying a $1 mil house now.

Because OP doesn’t want to compromise on location, schools, size, or condition of the home. OP is “dream home or bust.” But that only works when you are rich enough to pay all cash and are not sensitive to interest rates.

For the rest of us plebes, we need equity gains in order to trade up to the dream home.

This.

I bought recently, in cash. I compromised on condition, size, and some amenities - layout, natural light (not having an extra window in the living room), and in unit washer and dryer. However, I got the neighborhood, location, schools that I wanted. I was lucky too because the place I bought had 4 other offers.

The fact that you could pay cash might be the only reason you could get a house at all. It’s still crazy competitive out there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:So much of this thread reeks of UMC people who could "only" afford $700k in 2020, were locked out of the White schools - oops, sorry I meant W schools - and are insecure and lashing out at someone who has a little more money than they do.

I don’t really even know what this comment is trying to say or who it’s directed to.

But that is one of the points being made - OP is complaining to people who have far less than she does, saying a $1 million house is not good enough, which is what is rubbing folks the wrong way, especially if they live in a $700k house and are doing just fine.

It’s just over the top dramatic to whine that those people all live in hovels she would never deign to buy, therefore she is destined to be middle class forever (boo hoo).

What is over the top dramatic is to claim OP ever said anyone is living '"in hovels".

Well clearly they aren’t good enough for her, however she wants to describe them.

Why don't you live in a $300k home? Clearly by living in something more expensive you are implicitly calling all cheaper homes "hovels"

DP here. I do live in a $300k home (bought in 2020, so you KNOW it's crappy!), can I say I think OP should settle?