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Reply to "How rich are people buying 1-1.5 mil homes?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]lol DCUM people are largely financially illiterate. They treat houses as a liability rather than an appreciating asset, and they brag about their financial illiteracy - oh, we make $1M a year but we only bought a 500k house.[/quote] I mean… we bought a house below our means because if one of us loses our job/is unable to keep working, our life won’t have to change that drastically. We don’t have family money and no one will rescue us in case of a financial crisis. I’m guessing many others are in the same boat. [/quote] Us too. It felt too risky to spend that much. We bought 750K on a 350K salary with 350 down. Later we improved that house with 200K cash and now owe 300K with 10 years left. It makes me happy to see that mortgage debt falling. [/quote]
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