Reply to $200K and just getting by

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We bought a townhouse in 2000, and back then we didn't need a DP!  Things have changed making it more difficult to buy and afford things now for people under 40.  [/quote]

That's what I was about to say. PP who bought when she was 22 - that was 1998 or so. We bought in 1999 and had a 10% DP but could have done 5%, and the house was $200K. [/quote]

Pp bought before they were married, and many many people break up with their significant other once they are working and in real life; they committed to a mortgage but not to each other. Very responsible.

And as for buying with 5% down, how can you even pretend that is reasonable; it's all about timing and PP got lucky. If it was 2006 you would have been sunk. [/quote]

My point was that 10% (or 5% which we didn't do) of $200K for a 3-BR, 2-BA in a close-in burb was not that much money - for those asking how people had a downpayment that young.

And there are a ton of people on this board who bought in 2006 and have done just fine. Almost everything close-in and under $1M is up since then, with some DC neighborhoods way up.[/quote]

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