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

[Anonymous]

This is not unique to DC, look at real estate in and near NYC. Plenty of people with very good incomes cannot afford to live well in the city.

We are a two fed household with a HHI just over 300k (and we are not young, mid and late 40s). We have a house in a desireable DC neighborhood with good public schools but are just now able to consider updating and expanding our small older home because our youngest is entering public school next year and our child care costs will go down dramatically. I appreciate that we do very well, but we budget carefully and in no way feel rich financially for the area. Outside of this context I realize we are very well off compared to the nation and world population generally so I am not crying poor or complaining.

I think the honest answer is that the cost of living here is very high and people and many good income levels are going to have to make compromises in their livings desires/requirements.

[Anonymous]

$300k is middle class by Upper Ward 3/Bethesda/North Arlington SFH standards.

[Anonymous]

Anonymous wrote:This is not unique to DC, look at real estate in and near NYC. Plenty of people with very good incomes cannot afford to live well in the city.

We are a two fed household with a HHI just over 300k (and we are not young, mid and late 40s). We have a house in a desireable DC neighborhood with good public schools but are just now able to consider updating and expanding our small older home because our youngest is entering public school next year and our child care costs will go down dramatically. I appreciate that we do very well, but we budget carefully and in no way feel rich financially for the area. Outside of this context I realize we are very well off compared to the nation and world population generally so I am not crying poor or complaining.

I think the honest answer is that the cost of living here is very high and people and many good income levels are going to have to make compromises in their livings desires/requirements.

wow crazy i didn't know feds could make that much i tought they were capped off in the gs system.

[Anonymous]

Anonymous wrote: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!

is a very big area, FC is just a very small part of it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is not unique to DC, look at real estate in and near NYC. Plenty of people with very good incomes cannot afford to live well in the city.

We are a two fed household with a HHI just over 300k (and we are not young, mid and late 40s). We have a house in a desireable DC neighborhood with good public schools but are just now able to consider updating and expanding our small older home because our youngest is entering public school next year and our child care costs will go down dramatically. I appreciate that we do very well, but we budget carefully and in no way feel rich financially for the area. Outside of this context I realize we are very well off compared to the nation and world population generally so I am not crying poor or complaining.

I think the honest answer is that the cost of living here is very high and people and many good income levels are going to have to make compromises in their livings desires/requirements.

wow crazy i didn't know feds could make that much i tought they were capped off in the gs system.

probably to GS14s or SES

[Anonymous]

Anonymous wrote:This is not unique to DC, look at real estate in and near NYC. Plenty of people with very good incomes cannot afford to live well in the city.

We are a two fed household with a HHI just over 300k (and we are not young, mid and late 40s). We have a house in a desireable DC neighborhood with good public schools but are just now able to consider updating and expanding our small older home because our youngest is entering public school next year and our child care costs will go down dramatically. I appreciate that we do very well, but we budget carefully and in no way feel rich financially for the area. Outside of this context I realize we are very well off compared to the nation and world population generally so I am not crying poor or complaining.

I think the honest answer is that the cost of living here is very high and people and many good income levels are going to have to make compromises in their livings desires/requirements.

If you dont mind sharing, how much did your house cost and what year did you buy?

[Anonymous]

Anonymous wrote:

Anonymous wrote:This is not unique to DC, look at real estate in and near NYC. Plenty of people with very good incomes cannot afford to live well in the city.

We are a two fed household with a HHI just over 300k (and we are not young, mid and late 40s). We have a house in a desireable DC neighborhood with good public schools but are just now able to consider updating and expanding our small older home because our youngest is entering public school next year and our child care costs will go down dramatically. I appreciate that we do very well, but we budget carefully and in no way feel rich financially for the area. Outside of this context I realize we are very well off compared to the nation and world population generally so I am not crying poor or complaining.

I think the honest answer is that the cost of living here is very high and people and many good income levels are going to have to make compromises in their livings desires/requirements.

If you dont mind sharing, how much did your house cost and what year did you buy?

We paid just under $700K in 2004, so not peak but not a bargain. And for the other question, we are both GS 15s and have been for a while.

[Anonymous]

13:15 again, I am on leave today, not posting from the office.