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Reply to "It’s extremely hard to raise kids in a nice neighborhood without generational wealth "
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[quote=Anonymous]We bought our first home in North Arlington in 1990 for $250k. It wasn't large as McLean and Bethesda homes go, but it was handsome, had 4BRs and 2.5 baths, was an easy walk to metro, and was in a top school pyramid. I was a junior associate in Biglaw and my spouse stayed home with the kids. I probably made $75k a year at the time. My in laws lent us 20k to cover most of the down payment and we paid them back. The Redfin estimate for the house is now $1.3 million. A second year associate now makes about $250k. So the house back then cost about three times my salary, and today would cost about five times my salary. That sums up pretty well how times have changed. [/quote]
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