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[quote=Anonymous]Spouse is an elder millennial (1982) and I’m the year no one wants to claim (1980). We are on our second home, this one in DC which we bought a bit less than 10 years ago for $1.11m with $330k down. After tax and insurance increases for almost a decade, our PITI is now $4400/month, with ~$625k left on the mortgage. It was closer to $3700/month when we bought. We used the equity from our previous fixer upper house in a not great part of NOVA that we owned for 7 years and additional savings for the down payment.

The old house barely appreciated, but we were throwing extra at the mortgage to pay it down so we had quite a bit of equity in it. That was easier pre kids. The current house, I suspect I could sell it for around $1.6m based off neighborhood sales, though the silly real estate websites say $1.8-$2, which I think is absurdly high. So we have nearly $1m in equity wrapped up in the house, with roughly half that coming from appreciation. No plans to move though because there’s no way we are taking on a mortgage on an even more expensive place. [/quote]

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