I was so close and now I’m shut out

[Anonymous]

When you consider current interest rates and price levels this is one of the hottest housing markets I’ve ever seen in the DC area. You really need wealth to avoid being pushed into hard choices if you buy.

[Anonymous]

OP, if you're single (didn't read the thread) and you could have afforded a $1M+ house on your own at any time, you're doing amazing.

I will say that if you're single and solo, a $1M SFH seems like overkill, but I know that's just personal preferences...

[Anonymous]

Here's one just a bit above your original price point. But of course doesn't help you on the interest.

https://www.zillow.com/homedetails/4826-Butterworth-Pl-NW-Washington-DC-20016/437946_zpid/

[Anonymous]

Anonymous wrote:OP, if you're single (didn't read the thread) and you could have afforded a $1M+ house on your own at any time, you're doing amazing.

I will say that if you're single and solo, a $1M SFH seems like overkill, but I know that's just personal preferences...

OP is a single parent of 2 kids.

[Anonymous]

Actually Virginia, DC and Maryland had low appreciation over the last 10 years compared to other hotter areas

[Anonymous]

Anonymous wrote:Actually Virginia, DC and Maryland had low appreciation over the last 10 years compared to other hotter areas

Actually, prices are up $300,000 in just three years in some parts of Virginia.

[Anonymous]

Anonymous wrote:Actually Virginia, DC and Maryland had low appreciation over the last 10 years compared to other hotter areas

.

In my DC neighborhood, prices almost tripled in 12 years on unrenovated homes so that’s that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Actually Virginia, DC and Maryland had low appreciation over the last 10 years compared to other hotter areas

.

In my DC neighborhood, prices almost tripled in 12 years on unrenovated homes so that’s that.

Both things are true. DC area has had lower appreciation than other areas AND prices have gotten pretty high here. Just shows you how much higher they've gotten elsewhere, comparatively.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Actually Virginia, DC and Maryland had low appreciation over the last 10 years compared to other hotter areas

.

In my DC neighborhood, prices almost tripled in 12 years on unrenovated homes so that’s that.

One tiny neighborhood doesn't a market make. Gentrifying neighborhoods will generally have much higher rates of appreciation than the market.

[Anonymous]

Anonymous wrote:Actually Virginia, DC and Maryland had low appreciation over the last 10 years compared to other hotter areas

Only because DC's big boom already happened in the 10 years prior.

Yes, most areas were "only" seeing 5-10% increases per year, but those increases were on values that had already doubled or tripled in the 10-20 years prior.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My FIL is a man, that is why you would not respond the same way to him. Men are allowed to work hard and want nice things.

One more time for those in the back:

People are allowed to want nice things. People are allowed to be disappointed if they can’t afford those things. People are even allowed to complain about not being able to afford those things.

However, if the thing you want is a luxury and you are complaining to people who have far less, you will sound entitled and tone deaf.

The end.

Plenty of people on DCUM with these budgets or larger complain about the market. Suddenly OP is a monster for doing the same? GTFOOH

Exactly. And plenty of $1 million homes here are nothing close to luxurious.

It’s really more the tone of being a victim, whining about not being UMC, hyperbole about working forever and never having equity, her total neglect to acknowledge any of the privilege she does have, much less show some of her own empathy toward posters like the one trying to hit at $300k… It all adds up to a very unsympathetic poster who frankly seems incredibly immature for a 50-year old.

A $300,000 home is for rich people in many parts of the country. Are you going to harass them for their privilege too?

We are talking about the DMV. It is very hard to find a house for $300k. There are far more houses for $1million. Does that really need to be spelled out for you?

PG County has several at $300k.

[Anonymous]

Anonymous wrote:LMAO

So you don’t make enough to truly be UMC in this area.
Regular middle class isn’t so bad. Join us.

LMAOOOO
You're so wrong for this! LOL!

[Anonymous]

Here are some real numbers, I bought in 2017 for $1,325,000 at 3.65% and put down 750K. That was a $2,600 mortgage (just p&i)

today six years later my house is worth $1,625,000 (not a huge jump).

But that $575K mortgage I took out would now be a $875K mortgage with same $750K down and at 6% would be $5,246 a month.

[Anonymous]

Anonymous wrote:Here are some real numbers, I bought in 2017 for $1,325,000 at 3.65% and put down 750K. That was a $2,600 mortgage (just p&i)

today six years later my house is worth $1,625,000 (not a huge jump).

But that $575K mortgage I took out would now be a $875K mortgage with same $750K down and at 6% would be $5,246 a month.

OP. Right. This is the problem.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Omg, I am sorry that was so long. I guess I had some feelings.

OP again. Thank you!

May we be as supportive of people who are priced out of much cheaper homes or out of any home at all.