Reply to If you were born in 1990, how do you plan on ever affording a house?

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[quote=Anonymous][quote=Anonymous]My story: mid-1990s, 30 y.o. recent PhD, first full-time job, no savings.  Bought a SFH in PG County.  After mortgage and utilities and groceries each month I had about $25 left.  The house payment was around 75 percent of my income.  I have no idea how I got a mortgage but the PMI was huge--something like 25 percent. 
It was extremely painful, but also nice to finally be out of apartments and in a peaceful, clean SFH.

A few years went by.  My salary increased.  The equity in the home went up, the PMI came off.  Some inflation happened.  Now I had a relatively cheap place to live and a nice investment.  This wouldn't have ever happened if I had needed an Arlington or Bethesda address.  [/quote]

Same thing I said earlier. You can have what you want but some of the dream might have to be deferred. We can't all live west of the park. Every house is not out of reach just the exact house you want so focus on your needs and build toward your wants. I wanted offstreet parking and a Victorian with original features (pocket doors etc). I don't have them. I DO however have nearly $300k in equity which is more than I would have had if I had continued renting and complaining about not being able to afford a Victorian with parking.  [/quote]

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