Reply to I was so close and now I’m shut out

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Can we all agree that it's majorly tone deaf to complain that you can't afford a $1.7 Million dollar house? I mean COME ON. There are plenty of houses that someone can afford $1.3 Million at these interest rates (OP DID say that she could afford a $1.3 Million house now, not a $1.7 Million one) can buy that are still very nice and decent commuting distance to DC.

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Yes, this is exactly the point.  Sure, you can be sad that you can't get as much as before, but you can still get a house if that is your priority.[/quote]

Ding, ding, ding. And this is why so many people on this board are annoyed. OP's not complaining that she only has $500K to spend and can't find a SFH within a 30 minute commute of DC because she's a single mom and needs to be able to easily get home for her kids. I would have so much sympathy for someone in that situation complaining about being shut out of the market. It's a tough situation. The reality is that for $1.3 Million, OP can find a decent house within easy commuting distance of DC. I know she can, I'm doing it now -- finding decent options around $1 Million where my commute will be 30 minutes. Are they new construction 5BR,4BA with a gourmet kitchen and sunroom? No, but they're solidly built, four bedrooms plus a rec room, new-ish kitchens and bathrooms and plenty of space for my family of four in good school districts.[/quote]

Still don’t see the issue with OP buying a $1 mil house now.[/quote]

Because OP doesn’t want to compromise on location, schools, size, or condition of the home. OP is “dream home or bust.” But that only works when you are rich enough to pay all cash and are not sensitive to interest rates.

For the rest of us plebes, we need equity gains in order to trade up to the dream home. [/quote]

This.

I bought recently, in cash. I compromised on condition, size, and some amenities - layout, natural light (not having an extra window in the living room), and  in unit washer and dryer. However, I got the neighborhood, location, schools that I wanted. I was lucky too because the place I bought had 4 other offers. [/quote]

The fact that you could pay cash might be the only reason you could get a house at all. It’s still crazy competitive out there. [/quote]

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