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Real Estate
Reply to "If you were born in 1990, how do you plan on ever affording a house?"
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[quote=Anonymous]Born in 1975, bought first house in 2003. We didn't have undergrad loans but I was still in graduate school and DH had $100K in law school loans. At the time, interest rates were 6.8%, so our $550K house on what was then the fringes of Capitol Hill had a higher monthly payment than it would now. Also, it was a shithole, needed a new roof, new brickwork, new windows, didn't have AC just window units, etc. We lived with the problems and fixed them one by one over 13 years. It was 10 years before we had AC. It was burglarized three times in the first few years. Now it's worth 1.4M. So, 1990er, that's the recipe. Do what your predecessors did. By a fixer upper in a marginal neighborhood and do the work as you have the money. We didn't get to buy turn key homes in hip areas. We made our homes turn key and our neighborhoods hip. [/quote]
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