Reply to How much is your PITI if you earnn around $200k?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]What planet are you all living on?  I am in North Arlington and the houses in my neighborhood are all in yhe 800-1.1m range. My neighbors are either dual feds or sahm with a husband in private law firm (nonpartner). In either case, hhi cannot be much more than 300k. [/quote]

I'm in Ashburn and my neighbors all work in IT between Tysons and Herndon. Many SAHMS and dual income folks, probably similar income. We're IT and around 400k piti 2500[/quote]

Ashburn and other exurbs are different from the close-in suburbs for a variety of reasons.  First, the housing values in the exurbs tend to fluctuate much more with the economy, so you'd be crazy to assume the value of a home there will stay steady or increase (as opposed to Bethesda or Arlington).  Also, the tech companies in those areas are a bit more volatile and tend to have massive layoffs in recessions.[/quote]

17 years strong in IT and have never experienced a massive layoff, except at the end  in 1999 when I was 21 years old. Im in the industry and have yet to see this disaster you speak of strike. I've also had 2 rentals in Ashburn and  Sterling that I've sold and walked with enough to fully fund all of my children's 529s va pre paid. I hold 3 other rental properties that are cash flow positive, with increasing rents each year.  NOT living in Bethesda or Arlington affords me the ability to be an investor, not just a homeowner, saddled under the heavy burden of those home prices. Furthermore, if disaster struck, I could easily handle 2500/mo considering the high income we've benefited from in IT.

There is nothing compelling that could get me to move an inch closer to the city and suffocate under the oppressive home prices for basically the exact same income I make out here. That leaves more housing for you![/quote]

Another tech veteran here.  Also had a layoff in 1999 or 2000 (Hello UUNET vets!!).  I was also in my early 20s and it was an AWESOME layoff.  2,000 of us laid off at once, months and months of severance pay, it was in the Spring so I had all summer to have fun, go to bars, look for a job, and since I was so young I had no real financial obligations so I was living large on my severance.

But yeah, that was 16 years ago.  Smooth sailing since then for myself and everyone else I know in tech.[/quote]

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