Fitting into Upper Income Neighborhood Or Where Should Live/School

[Anonymous]

I agree. I was that kid. I did more than ok. Also recommend taking a trip for a week to another part of the country. DCUM is not reality.

[Anonymous]

A HHI of over 200k is rich.

[Anonymous]

Anonymous wrote:A HHI of over 200k is rich.

That is good to hear, because I've been really jonesing for a helicopter!

[Anonymous]

OP, you mention working in "southern DC." Do you mean you work in Anacostia? If so, your $1 million budget will buy you a FABU SFH and I guarantee you you will have $$ left over for private school. Or, is that not something you are willing to entertain?

[Anonymous]

Anonymous wrote:A HHI of over 200k is rich.

no way in DC it's more like 500-600k
http://articles.washingtonpost.com/2012-04-21/local/35451899_1_household-income-income-data-income-inequality

According to our tax codes it is $450k
http://money.cnn.com/2012/12/31/news/economy/fiscal-cliff-rich/index.html

[Anonymous]

Anonymous wrote:

Anonymous wrote:A HHI of over 200k is rich.

That is good to hear, because I've been really jonesing for a helicopter!

Did your butler type this?

[Anonymous]

Anonymous wrote:Somebody in the other thread the OP referenced noted that many desirable neighborhoods are full of residents that were "grandfathered in" and could not now easily afford the houses they live in. So if you move into a $1 million house, there probably many families that bought their houses for half that a few years ago and are living a lifestyle well below what a $1 million house implies. So this would pose a favorable force on OP's concerns about being "outclassed" by neighbors.

Waving hand-- Over here! We are in southern McLean HHI of $150-$180k. We could not afford our current home and still keep our current work/family life balance. However, unless poster has children in MS and HS, that is changing fast. Families with younger kids definitely make more than the MS/HS cohort. We used to call our section of McLean the "braownbag" section, but that is changing faster than the teardowns are being turned into McMansions.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Somebody in the other thread the OP referenced noted that many desirable neighborhoods are full of residents that were "grandfathered in" and could not now easily afford the houses they live in. So if you move into a $1 million house, there probably many families that bought their houses for half that a few years ago and are living a lifestyle well below what a $1 million house implies. So this would pose a favorable force on OP's concerns about being "outclassed" by neighbors.

Waving hand-- Over here! We are in southern McLean HHI of $150-$180k. We could not afford our current home and still keep our current work/family life balance. However, unless poster has children in MS and HS, that is changing fast. Families with younger kids definitely make more than the MS/HS cohort. We used to call our section of McLean the "braownbag" section, but that is changing faster than the teardowns are being turned into McMansions.

This stuff makes me upset but whatever. We have a HHI of over 300K but since we just started out and are in our early 30s and have high kids costs we don't have enough saved to buy in places where people make half.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Somebody in the other thread the OP referenced noted that many desirable neighborhoods are full of residents that were "grandfathered in" and could not now easily afford the houses they live in. So if you move into a $1 million house, there probably many families that bought their houses for half that a few years ago and are living a lifestyle well below what a $1 million house implies. So this would pose a favorable force on OP's concerns about being "outclassed" by neighbors.

Waving hand-- Over here! We are in southern McLean HHI of $150-$180k. We could not afford our current home and still keep our current work/family life balance. However, unless poster has children in MS and HS, that is changing fast. Families with younger kids definitely make more than the MS/HS cohort. We used to call our section of McLean the "braownbag" section, but that is changing faster than the teardowns are being turned into McMansions.

This stuff makes me upset but whatever. We have a HHI of over 300K but since we just started out and are in our early 30s and have high kids costs we don't have enough saved to buy in places where people make half.

Why?

We couldn't afford to buy in our neighborhood now, either - but when we did buy, it was a stretch. What is upsetting to you about PP's post?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Somebody in the other thread the OP referenced noted that many desirable neighborhoods are full of residents that were "grandfathered in" and could not now easily afford the houses they live in. So if you move into a $1 million house, there probably many families that bought their houses for half that a few years ago and are living a lifestyle well below what a $1 million house implies. So this would pose a favorable force on OP's concerns about being "outclassed" by neighbors.

Waving hand-- Over here! We are in southern McLean HHI of $150-$180k. We could not afford our current home and still keep our current work/family life balance. However, unless poster has children in MS and HS, that is changing fast. Families with younger kids definitely make more than the MS/HS cohort. We used to call our section of McLean the "braownbag" section, but that is changing faster than the teardowns are being turned into McMansions.

This stuff makes me upset but whatever. We have a HHI of over 300K but since we just started out and are in our early 30s and have high kids costs we don't have enough saved to buy in places where people make half.

PP, why does it make you upset? See where you are in 15-20 years and then report back to me. You will be better off. We saved one of our incomes plus 10% of the others for three years before we bought our house and had children. It didn't come for free and, back then our income was one third of what yours is. If you want to feel better, we also have extra costs to spend on two children with SNs. Does that make you feel better?

People with a HHI of $300k complaining about it make me roll my eyes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Somebody in the other thread the OP referenced noted that many desirable neighborhoods are full of residents that were "grandfathered in" and could not now easily afford the houses they live in. So if you move into a $1 million house, there probably many families that bought their houses for half that a few years ago and are living a lifestyle well below what a $1 million house implies. So this would pose a favorable force on OP's concerns about being "outclassed" by neighbors.

Waving hand-- Over here! We are in southern McLean HHI of $150-$180k. We could not afford our current home and still keep our current work/family life balance. However, unless poster has children in MS and HS, that is changing fast. Families with younger kids definitely make more than the MS/HS cohort. We used to call our section of McLean the "braownbag" section, but that is changing faster than the teardowns are being turned into McMansions.

This stuff makes me upset but whatever. We have a HHI of over 300K but since we just started out and are in our early 30s and have high kids costs we don't have enough saved to buy in places where people make half.

Why?

We couldn't afford to buy in our neighborhood now, either - but when we did buy, it was a stretch. What is upsetting to you about PP's post?

It's upsetting because the housing market is being distorted by hedge funds and the Fed QE, which benefits existing homeowners at the expense of first time homebuyers. If the bubble of the 2000s had popped properly, then we would have much more diverse communities

And PP probably can't afford the delorean either to go back and buy a house in 1999.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Somebody in the other thread the OP referenced noted that many desirable neighborhoods are full of residents that were "grandfathered in" and could not now easily afford the houses they live in. So if you move into a $1 million house, there probably many families that bought their houses for half that a few years ago and are living a lifestyle well below what a $1 million house implies. So this would pose a favorable force on OP's concerns about being "outclassed" by neighbors.

Waving hand-- Over here! We are in southern McLean HHI of $150-$180k. We could not afford our current home and still keep our current work/family life balance. However, unless poster has children in MS and HS, that is changing fast. Families with younger kids definitely make more than the MS/HS cohort. We used to call our section of McLean the "braownbag" section, but that is changing faster than the teardowns are being turned into McMansions.

This stuff makes me upset but whatever. We have a HHI of over 300K but since we just started out and are in our early 30s and have high kids costs we don't have enough saved to buy in places where people make half.

PP, why does it make you upset? See where you are in 15-20 years and then report back to me. You will be better off. We saved one of our incomes plus 10% of the others for three years before we bought our house and had children. It didn't come for free and, back then our income was one third of what yours is. If you want to feel better, we also have extra costs to spend on two children with SNs. Does that make you feel better?

People with a HHI of $300k complaining about it make me roll my eyes.

People are going to see a very different next 15 years than the last 15. Incomes stagnant but housing prices and inflation stoked by QE.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Somebody in the other thread the OP referenced noted that many desirable neighborhoods are full of residents that were "grandfathered in" and could not now easily afford the houses they live in. So if you move into a $1 million house, there probably many families that bought their houses for half that a few years ago and are living a lifestyle well below what a $1 million house implies. So this would pose a favorable force on OP's concerns about being "outclassed" by neighbors.

Waving hand-- Over here! We are in southern McLean HHI of $150-$180k. We could not afford our current home and still keep our current work/family life balance. However, unless poster has children in MS and HS, that is changing fast. Families with younger kids definitely make more than the MS/HS cohort. We used to call our section of McLean the "braownbag" section, but that is changing faster than the teardowns are being turned into McMansions.

This stuff makes me upset but whatever. We have a HHI of over 300K but since we just started out and are in our early 30s and have high kids costs we don't have enough saved to buy in places where people make half.

Why?

We couldn't afford to buy in our neighborhood now, either - but when we did buy, it was a stretch. What is upsetting to you about PP's post?

It's upsetting because the housing market is being distorted by hedge funds and the Fed QE, which benefits existing homeowners at the expense of first time homebuyers. If the bubble of the 2000s had popped properly, then we would have much more diverse communities

And PP probably can't afford the delorean either to go back and buy a house in 1999.

Exactly how is it fair that the previous generation gets to sit back and suck the money off the first time home buyers. It's utter bull shit but in the end the bad neighborhoods will continue to get better and have younger families where as the older more expensive ones will turn into old white people dying off.

[Anonymous]

Different poster here. HOW on earth does a "bubble pop properly"?

PP, you know buying houses is all timing, right?

I know this is an insanely expensive area, but I really don't think you would want to be one of the houses "grandfathered in" - resenting the big new houses, that is for sure.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Somebody in the other thread the OP referenced noted that many desirable neighborhoods are full of residents that were "grandfathered in" and could not now easily afford the houses they live in. So if you move into a $1 million house, there probably many families that bought their houses for half that a few years ago and are living a lifestyle well below what a $1 million house implies. So this would pose a favorable force on OP's concerns about being "outclassed" by neighbors.

Waving hand-- Over here! We are in southern McLean HHI of $150-$180k. We could not afford our current home and still keep our current work/family life balance. However, unless poster has children in MS and HS, that is changing fast. Families with younger kids definitely make more than the MS/HS cohort. We used to call our section of McLean the "braownbag" section, but that is changing faster than the teardowns are being turned into McMansions.

This stuff makes me upset but whatever. We have a HHI of over 300K but since we just started out and are in our early 30s and have high kids costs we don't have enough saved to buy in places where people make half.

Why?

We couldn't afford to buy in our neighborhood now, either - but when we did buy, it was a stretch. What is upsetting to you about PP's post?

It's upsetting because the housing market is being distorted by hedge funds and the Fed QE, which benefits existing homeowners at the expense of first time homebuyers. If the bubble of the 2000s had popped properly, then we would have much more diverse communities

And PP probably can't afford the delorean either to go back and buy a house in 1999.

I don't disagree, but to try to pretend that people with HHI of $200k+ don't have options--and good ones--is just silly. No, perhaps you can't afford to have good public schools k-12 AND a SFH with yard AND new gourmet kitchen AND a short commute into the city. But with that kind of money, you can get 3 out of 4. In Arlington, you can get good schools, short commute, and SFH+ yard, but probably not the new gourmet kitchen. Suck it up, buy a small, old house, and deal with it. In Fairfax County, you can have good schools, a SFH with yard, and gourmet kitchen, but you'll have a longer commute. In Loudoun County, you can have good schools, gigantic SFH & yard, gigantic gourmet kitchen, and really long commute. In PG County or Anacostia, you can have SFH & yard, gourmet kitchen (and plenty of money left over), and short commute, but you will have far more school worries.

If you aren't rich, you can't have everything you want. But at $200k HHI, you can have a helluva lot. THAT's the lesson you should be imparting to your kids. Quit complaining.