Reply to I know why Millenials can't afford houses and pay off their student loans..

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]If you really believe this is why we can't afford houses or pay off student loans, I have a very affordable bridge to sell you. Killer deal. But your mentality lets me know that you are def one of the ones who ruined the economy for us. Now you sit back hypothesizing about every other thing that could be wrong but you will never accept responsibility for how you set us up for failure. Thanks, geezer.[/quote]

I'm not OP and I'd wager I'm about 10 years older than you.  There is some validity to OP's point.   OTOH, if I was fairly certain that I could never afford a $675K condo or a $1.7 million colonial on the Red Line, no matter how far up the ladder I moved in my nonprofit, I would personally be tempted to buy $18 bespoke cocktails, too, like you guys.  I mean, what do you have to lose?  You're never going to close that gap between your income and real estate, esp with your loan debt from Haverford (vs. In-State U.)[/quote]

This is the mentality we had when we lived in NY.  Many of the nice coops require well over a 25 percent downpayment.  Even though we made good money I couldn't fathom saving up 500k plus to purchase a tiny 2 bedroom apartment for 1 mm plus.  So we spent most of our money on dining out and entertainment.

Looking back I wish we had understood that even saving 1-2k outside of retirement each month would have added up to a lot over time.  We wasted literally hundreds of thousands of dollars dining out and taking cabs over the time we lived there.

The good news is we've grown up and now live in DC and save probably too much money. [/quote]

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