Reply to Anyone else who will likely never be a home owner?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Mid thirties couple here with no way forward regarding buying a home. I feel sad knowing I won’t be able to have a home to call my own and decorate and build a family in.

Anyone else in this boat?[/quote]
No. You two had at minimum 10 years to live in a condo/townhouse (possible with roommates) and pay down the mortgage. Then take out the equity and buy something bigger. Since you don't seem to have done that, take the money you invested while renting all those years (Usually renting is cheaper than owning, so the difference you invested). You did that, right? If you live in DMV you have known for a long time that it is expensive to live here.
If no,t you two need to move into a studio and both work 1.5 jobs to save up for a townhouse somewhere outside of the city. Within a few years when the interest rates go down again, you should be ready to buy. Get a roommate if you do buy a townhouse or a house.[/quote]

This. The pp had years to live frugally and save for home ownership. If you suddenly look up at age 33 and wonder why you don't own a home, then that's on you. [/quote]

So hard to imagine that many people in an area known for highky edicared transplants didn't grow up here, didn't live with mom and dad, or spent their savings or had low incomes in their 20s due to higher education. I know TONS of people who weren't able to save for a down payment [i]at the rate prices were increasing[/i] in their 20s. [/quote]

Lots of us did it without family to live with or to give us money. We lived with roommates in crappy rentals and saved money to buy a dated home in a tier 2 or 3 area. You also need to be careful taking on student loans. If that exclusive school is going to saddle you with debt but not a high salary, then you can't afford it. You also can't afford the prestigious but low-paying career. I have no sympathy for people who indulged their egos instead of being financially responsible.

Don't try to live the trust fund lifestyle without a trust fund then come complaining.[/quote]

+10000.  We are relatively high earners and had to make sacrifices for that first down payment.  We spent a year or so not going on any vacations, we skipped out on some weddings, didn’t even have iPhones and got by with one older car.  The friends we have who have not yet bought a house are all unable to make these kind of sacrifices.  Now they are in their 30s and it will be more obvious that they missed the boat.  [/quote]

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