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

[Anonymous]

Their spending is probably really high. Friday and Saturday nights out with concerts and shows and expensive dinners with wine, lots of weekend getaways and vacations. DINKs can save a lot of money if they’re disciplined, but also live paycheck to paycheck on high HHIs like OP’s sister’s.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well they cannot afford a decent house in a nj e neighborhood and if they have a child, it will cost her entire salary for a nanny.

Why do they feel entitled to that, though? 300K for a family is an excellent salary to have savings and buy in a safe neighborhood.

NP - Not right now in DC LOL. It doesn't cut it.

For an SFH? No it won’t be enough. But it will for a condo

[Anonymous]

Anonymous wrote:It isn’t greedy to have financial/earnings/career goals. It’s called ambition. It’s ok to be content with what you have and also ok to strive for more, as long as you are not putting down others or bragging or otherwise behaving badly.

If your sister is stressed on 300k, it means they’re overspending - did they stretch for a house they couldn’t truly afford? Either way this is not a DC problem.

I’d like to see more people be ambitious enough to improve their character or their fitness.

[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.

Nope. There are 1800 sqft homes on the market. I have a friend that has one kid and is insisting on 4000 sqft. For what?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well they cannot afford a decent house in a nj e neighborhood and if they have a child, it will cost her entire salary for a nanny.

Why do they feel entitled to that, though? 300K for a family is an excellent salary to have savings and buy in a safe neighborhood.

NP - Not right now in DC LOL. It doesn't cut it.

For an SFH? No it won’t be enough. But it will for a condo

Add in childcare and it will be tight. I was referencing buying a home & paying for care.

[Anonymous]

Anonymous wrote:

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.

+1

Even WITH visitors for the holidays, most of the rooms are left unused. Builders are too concerned with the bottom line and maximum profit, so they build these over the top monstrosities that no one needs. Not to mention, the hideous farm styles that are being built now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

+1

Even WITH visitors for the holidays, most of the rooms are left unused. Builders are too concerned with the bottom line and maximum profit, so they build these over the top monstrosities that no one needs. Not to mention, the hideous farm styles that are being built now.

Right read "When the Relatives Came" and you see how families used to make due when visiting family for the holidays.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

+1

Even WITH visitors for the holidays, most of the rooms are left unused. Builders are too concerned with the bottom line and maximum profit, so they build these over the top monstrosities that no one needs. Not to mention, the hideous farm styles that are being built now.

Right read "When the Relatives Came" and you see how families used to make due when visiting family for the holidays.

Are you implying it's good to make your family members hate you?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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?

I want my kids to prioritize family life.

Low bar.

✌🏻

who says you can't prioritize family life and be successful. I ma700k + ast year and probably work 30-40 hours max a week. Finance! I coach my daughters team, never miss a school event, etc. I prioritize my family over my job.

You can’t have it all.

But I do just what I said..sooo??

[Anonymous]

Anonymous wrote:

Anonymous wrote:Well they cannot afford a decent house in a nj e neighborhood and if they have a child, it will cost her entire salary for a nanny.

As someone living comfortably in the DMV with two kids and less than half OP's sister's HHI, this forum is so out of touch it cracks me up

I especially love how OP had to make it clear that they made over $200K in the post. That being said, there's nothing wrong with being stressed and/or complaining about you finances no matter your income -- everyone has different financial wants and goals -- I just take issue with idea that anyone in OP's family is "poor."

This is an endless circle. There are "two" DMVs. One is close in Bethesda, CC, McLean, Arlington -- the other is the further out burbs.

They require vastly different incomes. I would jump off key bridge if I lived further out, thus I am OK to spend way too much money on housing. I give up some luxuries (fancy car, business class travel, etc) for a better location (for me).

Just because you can live fine on a modest 150k salary, doesn't mean everyone can. 150k in Bethesda won't get you a 2 bedroom apartment..

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well they cannot afford a decent house in a nj e neighborhood and if they have a child, it will cost her entire salary for a nanny.

As someone living comfortably in the DMV with two kids and less than half OP's sister's HHI, this forum is so out of touch it cracks me up

I especially love how OP had to make it clear that they made over $200K in the post. That being said, there's nothing wrong with being stressed and/or complaining about you finances no matter your income -- everyone has different financial wants and goals -- I just take issue with idea that anyone in OP's family is "poor."

This is an endless circle. There are "two" DMVs. One is close in Bethesda, CC, McLean, Arlington -- the other is the further out burbs.

They require vastly different incomes. I would jump off key bridge if I lived further out, thus I am OK to spend way too much money on housing. I give up some luxuries (fancy car, business class travel, etc) for a better location (for me).

Just because you can live fine on a modest 150k salary, doesn't mean everyone can. 150k in Bethesda won't get you a 2 bedroom apartment..

You realize you left off everything east and south of the park? Have you literally forgotten that many of us are raising kids in these neighborhoods and communities? If you can’t live off 150k, YOU are the problem.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Well they cannot afford a decent house in a nj e neighborhood and if they have a child, it will cost her entire salary for a nanny.

As someone living comfortably in the DMV with two kids and less than half OP's sister's HHI, this forum is so out of touch it cracks me up

I especially love how OP had to make it clear that they made over $200K in the post. That being said, there's nothing wrong with being stressed and/or complaining about you finances no matter your income -- everyone has different financial wants and goals -- I just take issue with idea that anyone in OP's family is "poor."

This is an endless circle. There are "two" DMVs. One is close in Bethesda, CC, McLean, Arlington -- the other is the further out burbs.

They require vastly different incomes. I would jump off key bridge if I lived further out, thus I am OK to spend way too much money on housing. I give up some luxuries (fancy car, business class travel, etc) for a better location (for me).

Just because you can live fine on a modest 150k salary, doesn't mean everyone can. 150k in Bethesda won't get you a 2 bedroom apartment..

You realize you left off everything east and south of the park? Have you literally forgotten that many of us are raising kids in these neighborhoods and communities? If you can’t live off 150k, YOU are the problem.

Thank you! I'm the PP who objected to the use of "poor" and yes, I do actually live in DC (not Bethesda, obviously ). I fully believe there are people who can't live off $150 for whatever reason and they're certainly entitled to complain about their financial challenges but they're for sure not poor.

[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.

Nope. There are 1800 sqft homes on the market. I have a friend that has one kid and is insisting on 4000 sqft. For what?

because that's what size middle class housing is in the rest of the USA for mid-incomes

[Anonymous]

Comparison is the thief of joy

[Anonymous]

300k is not bad for the United States overall, but is very average for the DMV area, AND especially - 200k is pretty low for sometime with 10 years of experience in Tech, and 100k is pretty low for someone with 10 years of experience if finance. These are 2 specific
Fields where Iwould totally expect to be paid substantially more.