Anybody else extremely depressed over real estate?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Middle aged first time buyer and I am practically suicidal over mistakes I made by not buying at what turned out to be the last possible time I could have afforded a nice house.

Its okay, just save and invest. After retiring you can move to a low cost area with no worries about commute, schools or rooms for your offspring and buy a cute little home.

It's too late for that solution. Life is now. My kids' life is now.

Far more than a nice house, your kids need you being present in the moment with them - this, everyday, moment.

Bullshit. They also need space to have friends over. A community. A home they feel proud of instead of their current shithole we have outgrown.

I feel the same. sad!

[Anonymous]

This house is in our community. It gives you access to pool, tennis courts, walking trails, etc. Schools are looked down upon here, but are fine. If you’re willing to be flexible, you can find home, community, etc.

https://www.realtor.com/realestateandhomes-detail/15400-Eagle-Tavern-Ln_Centreville_VA_20120_M56692-84746

[Anonymous]

It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

[Anonymous]

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

My point was that OP (who apparently has a million to spend) has a lot of options. She seems determined to not accept any of them. Even in DC, anyone with a million-dollar budget is not “down.”

[Anonymous]

Anonymous wrote:Live long apartment renter here saved my whole life now I'm old and wanted to buy a house and now I can't bc no inventory. Apartment neighbors are extremely loud and my complex won't do anything about it. I can't live like this for another second.

PP, can you move to another rental, not apartment? This is for health reasons.

[Anonymous]

Anonymous wrote:I'm a second-time buyer and I am depressed too. Current home is a condo, has not appreciated much but everything else has, and our equity will not make up the gap.

We thought we were being practical buying a condo as first-time buyers because it was well within our budget and close in, which has saved us a lot of money on commuting over the years. And we have saved the difference in what we might have paid for a house if that's what we'd bought. But neither our appreciation nor our savings (nor our incomes) can keep up with the appreciation in houses over the last 7/8 years.

We either have to accept that we're raising kids in a small condo with bad IB schools, or make the big jump to a lower COL area. I guess it's better to have these two options than no options, but it's still disappointing. Especially when peers who only spent maybe 50-80k more (back when borrowing money was cheaper than it is now) are sitting on way more appreciation and have way more options. Our mistake was underbuying and being overly conservative about debt. It's a tough thing to reconcile.

I made the same mistake being overly conservative and now it's impossible to move up

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

My point was that OP (who apparently has a million to spend) has a lot of options. She seems determined to not accept any of them. Even in DC, anyone with a million-dollar budget is not “down.”

OP and I do not have a million to spend. A million dollar home is not a million dollars to spend, and a million dollars does not get you anything nice around here anymore.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm a second-time buyer and I am depressed too. Current home is a condo, has not appreciated much but everything else has, and our equity will not make up the gap.

We thought we were being practical buying a condo as first-time buyers because it was well within our budget and close in, which has saved us a lot of money on commuting over the years. And we have saved the difference in what we might have paid for a house if that's what we'd bought. But neither our appreciation nor our savings (nor our incomes) can keep up with the appreciation in houses over the last 7/8 years.

We either have to accept that we're raising kids in a small condo with bad IB schools, or make the big jump to a lower COL area. I guess it's better to have these two options than no options, but it's still disappointing. Especially when peers who only spent maybe 50-80k more (back when borrowing money was cheaper than it is now) are sitting on way more appreciation and have way more options. Our mistake was underbuying and being overly conservative about debt. It's a tough thing to reconcile.

I made the same mistake being overly conservative and now it's impossible to move up

Remember how many posters on here would swear you should limit mortgage debt or pay down your mortgage early? They were wrong.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

I'm not OP but I've posted in this thread about being depressed. I don't have a million dollars to spend (nor would I qualify for a mortgage for a million dollar house). I'd love a 3-bedroom rowhouse in DC -- I can't afford one. Depending on when you bought, I could probably now afford to buy your house at the price you paid for it. But not now. And you get to bank all that equity, which means if you want to move at some point, you'll be up probably a couple hundred thousand over me for that house, too.

You bought at the right time. You had enough for a down payment and enough income to buy your house that you now "happily" live in, when it still cost little enough for you to buy it. Maybe I'm a few years younger than you, maybe I'm in a different field and it took me longer to get to the down payment and income level you got to. Maybe I married later. You lucked out, I didn't. I'm depressed about it.

Also, just to really drive it home -- you have multiple kids and I only have once because we didn't have the space for another kid and then got priced out of the space for another kid and now we have only one kid. I love my kid! But yes, it's freaking hard when major life choices are dictated by how much money you have for a downpayment before the housing market skyrockets and you can no longer afford it at all.

Enjoy your family and your happy life in your 3 bedroom DC row house which will only increase rapidly in value. I can see why you took time out of your day to come here and complain.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How many times have you posted about this before, OP? Are you the mom of two teens who wants to spend $1 Million? I don't feel sorry for you. If you compromise on location, you can get exactly what you need - and I mean 15 minutes further away than you live now will get you something nice.

+1

What areas are you looking in, OP? We can give some suggestions.

I have seen enough from this OP that I am not inclined to offer any suggestions, other than that she should grow up. She's insufferable.

DP here, but please feel free to leave this thread if you're not going to help. Housing affordability is at a historic low. This really hurts the financial picture and standard of living for buyers like OP. It's not "insufferable" to be sad that you can no longer afford the type of home that you were saving for, even if someone else has it worse.

But you have to have some perspective. Suicidal because the 1.2 million dollar home you want is now 1.8? She is crying because she can’t have diamonds when she has the choice of the finest jewels. We are entitled to our feelings but we should also see them for what they are.

Indeed. $1.2 million was never my budget and never will be. There has got to be A house somewhere that OP can like and buy with that large a budget.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

I'm not OP but I've posted in this thread about being depressed. I don't have a million dollars to spend (nor would I qualify for a mortgage for a million dollar house). I'd love a 3-bedroom rowhouse in DC -- I can't afford one. Depending on when you bought, I could probably now afford to buy your house at the price you paid for it. But not now. And you get to bank all that equity, which means if you want to move at some point, you'll be up probably a couple hundred thousand over me for that house, too.

You bought at the right time. You had enough for a down payment and enough income to buy your house that you now "happily" live in, when it still cost little enough for you to buy it. Maybe I'm a few years younger than you, maybe I'm in a different field and it took me longer to get to the down payment and income level you got to. Maybe I married later. You lucked out, I didn't. I'm depressed about it.

Also, just to really drive it home -- you have multiple kids and I only have once because we didn't have the space for another kid and then got priced out of the space for another kid and now we have only one kid. I love my kid! But yes, it's freaking hard when major life choices are dictated by how much money you have for a downpayment before the housing market skyrockets and you can no longer afford it at all.

Enjoy your family and your happy life in your 3 bedroom DC row house which will only increase rapidly in value. I can see why you took time out of your day to come here and complain.

Your kids could have shared a room. But anyway, people seem determined to be victims here so good luck with that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

My point was that OP (who apparently has a million to spend) has a lot of options. She seems determined to not accept any of them. Even in DC, anyone with a million-dollar budget is not “down.”

OP and I do not have a million to spend. A million dollar home is not a million dollars to spend, and a million dollars does not get you anything nice around here anymore.

Depends where "here" is, OP. Where are you looking specifically, and are you willing to go farther out to get a nice home?

[Anonymous]

I think a problem for many people in this area is that they have well-paying federal jobs, and they can't get over that they would have to take a pay cut to move elsewhere even though that other location with lower pay would get them a better lifestyle. What good is making $150K in the DC area if you feel poor? Better to move elsewhere and make $100K but be able to afford a nice house with good schools.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It’s very hard to be sympathetic to someone who has over a million dollars to spend on a house when we are happily raising our teens in a 3-bedroom rowhouse in DC that would sell for significantly less than that. There are thousands of other families doing the same. I would like to live on a cliff overlooking the Pacific and have a fenced in acre for my dog, but I’m not “suicidal” because that isn’t in the cards (or my budget). You are always going to be dissatisfied with something if you don’t change your outlook, OP.

You're missing the point. OP and others were able to have that but they didn't buy and suddenly they couldn't have it anymore. That stings. Why do you click on these threads if you're just here to kick the posters when they're down?

I'm not OP but I've posted in this thread about being depressed. I don't have a million dollars to spend (nor would I qualify for a mortgage for a million dollar house). I'd love a 3-bedroom rowhouse in DC -- I can't afford one. Depending on when you bought, I could probably now afford to buy your house at the price you paid for it. But not now. And you get to bank all that equity, which means if you want to move at some point, you'll be up probably a couple hundred thousand over me for that house, too.

You bought at the right time. You had enough for a down payment and enough income to buy your house that you now "happily" live in, when it still cost little enough for you to buy it. Maybe I'm a few years younger than you, maybe I'm in a different field and it took me longer to get to the down payment and income level you got to. Maybe I married later. You lucked out, I didn't. I'm depressed about it.

Also, just to really drive it home -- you have multiple kids and I only have once because we didn't have the space for another kid and then got priced out of the space for another kid and now we have only one kid. I love my kid! But yes, it's freaking hard when major life choices are dictated by how much money you have for a downpayment before the housing market skyrockets and you can no longer afford it at all.

Enjoy your family and your happy life in your 3 bedroom DC row house which will only increase rapidly in value. I can see why you took time out of your day to come here and complain.

Your kids could have shared a room. But anyway, people seem determined to be victims here so good luck with that.

DP, there are 3bd townhouses near me that have increased from the 400s to the 600s in the last several years. So yes a big increase, but still affordable if you can settle for a TH, and close in as well.