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Real Estate
Reply to "My aunt started working as a maid at the Watergate after graduating HS & bought a home in Arlington"
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[quote=Anonymous]We live in a coveted area in Arlington in a home worth 1.2m. Due to a combination of the usual special/lucky circumstances and being frugal, we owe less than 1/3 the value of the house on our mortgage in late 30's. We have some blue collar neighbors who bought before us. We are two federal employees. Now all turnover in the neighborhood is teardowns/ new construction, and new owners with higher paying jobs. The neighborhood gentrification, if you can call it that, has happened much faster than salary increase for us and other neighbors who have lived here a long time. Taxes go up and are a lot. If we had just 20% for a down payment, we could not afford the neighborhood any more.[/quote]
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