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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Not hard at all. Buy a few places, rent them out and watch equity grow. I'd be on a rental nr 4 or 5 if I hadn't been illegal for 15 years. I have some catching up to do, but I alwyays wondered why Americans didn't buy a place or 2 and rent it out since rents are very high in DC. Many were my coworkers and somehow they were unable to save up the down payment and have a good credit it took to get a pace in Adams Morgan for example. I saved over $10k in 1998 making only ca $24k a year. I coudln't however buy the $74k 1-bedrooms on Columbia Road. An American could've but many never bothered. I figured their parents will leave them their houses. Many drank too much, smoke too much and were too cool to settle down.
For the richer crowd I suggest to wait to buy the million dollar shit-schack in upper NW. It's not going up, it's already up and it will take all you HHI of $300-$350k for the next 30 years to live in it. Stay in smaller homes or apartments a little bit longer. Kids ages 1-7 don't really complain about how much space they have at home, you do.
Got to keep the housing price low and work hard 22-40.[/quote]

Great advice!

Most other countries are overcrowded and for generations people have known that RE is a sure thing.  That "wisdom" gets passed on to children (like you) some of whom end up here.  Only in the US do you see RE booms and busts where RE actually goes down in price!  Unheard of is most crowded countries.

I'd add that kids of all ages don't care about the size of the house.  My kids are in MS and HS and we recently visited a friend's new house in Great Falls, about 3 times the size of ours.  They were wowed by the house but on the way back both were clear that they like their "home" better and would not want to move to a different house.  They thought a large house was a waste of money.  Wonder why adults don't think that way.

[/quote]

That's cute, they are just trying to make you feel better. <---sarcasm.

Look, lets not pass judgement on what other people choose to do with their money. Your decision is not superior to theirs and vice versa. Don't use anecdotal observations, especially from that of a child, to determine what is and is not a good housing decision. It is poor parenting to teach your kids to look down on other people's subjective preferences. [/quote]

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