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Reply to "Where do people keep these huge amounts for house down payments?"
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[quote=Anonymous][quote=Anonymous]I repeatedly see people on here say they have $150K, $300K, and upwards available for down payments on homes. Sorry for the stupid question but where is this money kept? Are people talking about equity in their current home? Cashing in options? 401K loans? Or is it all just liquid cash sitting in a savings account? [/quote] My DC lived at home for almost 3 years years and saved over $100k. His salary was $80-$90k and we did not charge him rent. His plan was to live at home a year, but Covid hit and it did not make sense for him to move out until this summer. [/quote]
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