Reply to Family of Four on 90k - An Upper Middle Class Existence

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This is in response to 8:35 above- don't want to quote again since it's so long- but PP's house probably didn't just appreciate due to the bubble- sure it's a part but gentrification has lead to crazy increases in housing prices in many DC neighborhoods, and it's not like those places went rock bottom again when the bubble popped.  From my limited experience looking at home values when we were house shopping, it was more outlying, exurban areas that really got screwed by the bubble.  Investing in a gentrifying inner city neighborhood is a risk that I'm not sure I would have had the courage to take, but for PP it worked out.  It doesn't sound like you (as a self described country boy) would have wanted to take that kind of risk even if you had the means.[/quote]

You are right.  The bubble didn't ever impact my part of the city (prices never went down).  PP is unbelievably bitter and for no reaso.  How exactly would having a ton of equity change your life?  You still need somewhere to live.  You still have to pay back whatever you buy against your house.  I still have the same house I bought ten years ago.  I still live in the same neighborhood and have the same commute.  I don't have any more cash spare because my house is now worth more.  If I move and cash out my equity where does that take me?  I still need a home.

PP just had different priorities and was/is unwilling to take a chance -- those are CHOICES that he consciously made, just like I made choices that worked out.  Taking a chance in DC means living somewhere with questionable schools, alongside a lot of people living on the poverty line and all the problems that go with it.  But you know what, for every drug deal or shooting or panhandler asking for money or syringe/vodka bottle/knife I find on the local playground, there are dozens of great neighbors (rich or poor, black or white, gay or straight, young or old) who are friendly, open and committed to improving the neighborhood.  You just need to open your eyes.  [/quote]

NP and all I can say is bitter is no way to live.  PP can be angry at people who made huge amounts in appreciation or he can just get on with his life.  [/quote]

Not that bitter, this is DCUM so things get crazy. My point was just PP appreciating the luck aspect in their appreciation and gentrification of their house; OP started this thread basically saying 'why are you folks all complaining, we get by fine on 90k' and PP who bought 800k home for 300k echoed sentiment.  Of course all these lower middle income folks living well bought before the bubble, but they act as if they just live more virtuously. Not recognizing the luck they had in buying before bubble and locking in low COL now. And bubble never popped in DC; it was b/c of 911 spending and we may see decline in prices over the next decade as it unwinds but doesn't help folks starting out now. [/quote]

Not all of us lower middle folks bought before the bubble.  We are a 90k HHI living in a town home in a good (not the very best but good) school area and we feel pretty lucky.  Its a matter of perspective.[/quote]

Yes but a generation ago a inflation adjusted income for a professional would afford a house. How long is your commute; time is the trade off that hurts the most for us. Do you have a SAHP? Then u are close to living the dream.

So you are happy with your schools all the way thru High school or is your plan to move?[/quote]

commute is 15 minute (I don't work in DC).  I am a single parent so there is no stay at home parent.  not sure about our HS.  will re-evaluate when DD gets older as things (including boundaries) can change.[/quote]

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