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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][quote=Anonymous][quote=Anonymous][b]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.[/b][/quote] Risk tolerance. You need a much bigger emergency fund and a your savings won’t last as long on a more expensive place in the event of losing your job. My monthly housing costs are 1/10 of my income and I feel very secure. [/quote] Good for you! Lol[/quote] or bad for him for inflating his money away as if (hyper) inflation these days is not a risk.[/quote] Only on DCUM is someone who buys a more modest home than they can afford financially illiterate. There are a lot of folks on DCUM who stretch to buy homes and then waive it other people's faces like it somehow makes them smarter financially. I think it is compensating for something.[/quote]
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