Reply to Anyone else who will likely never be a home owner?

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Reply to "Anyone else who will likely never be a home owner?"

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[quote=Anonymous]These threads are such a Rorschach test for people because there is no way to talk about it in generalities without people getting into specifics.

So many people want to believe that it was all their hard work and/or frugality that got them their great lifestyle/house/etc. And when they talk about those who struggle, they fixate on people they perceive as spendthrifts.

Then there are the people who struggle who fixate on the friend who got family money to help, the people who lucked into extremely high paying jobs, etc.

The truth seems to be that if you managed to get on the property ownership ladder in this area (or similar places where property values sky rocketed) years ago, you have made enormous amounts of money on appreciation that you had little or nothing to do with. So, yes, you might have scrimped for a few years to get your foot in the door, but those high prices you realized when you sold had to be paid by someone else, and surely you noticed that it was people wealthier than you were when you bought your house. There is simply no denying that close-in DC suburbs and parts of DC are just way more expensive, and the people who live there have way more money.

So, yes, people can still afford to buy much further out, but that is a lower standard of living. The people who can't or won't realize that, and insult those people, are falling into the Boomer mindset that is so obnoxious.

I say this as someone who makes a lot of money and has a nice house close in. Yes, I work hard and have for years. Yes, I am pretty conservative about spending money. And yes, a lot of that is luck on many fronts, including being born in the mid 1970s.

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