Reply to How to relate to MIL who lives in ivory tower

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[quote=Anonymous]Agree with everything said, your MIL sounds nice and no need to "make her understand."

Regardless, economists recognize baby boomers had a generally easier financial situation than millennial. So just take comfort in that. No need to rub this in their face though, especially when your MIL acted frugally in her life - to now give you $16 k generously per year.

Fact, I grew up locally one of 3 kids. When my parents bought the home, my dad was mid-GS government employee and my Mom stayed home. My childhood home was then and now in a lovely neighborhood.

Versus, it now takes DH and I two salaries near the top of GS-15 (attorneys), and just 1 kid, to afford a relatively comparable house and neighborhood, bought relatively long ago and with some substantial resources coming in that many didn't have, from private sector work and what most would see as extreme frugality early on, and with minimal student debt that was repaid long ago. Such is life for millennials though.

I have commented on this to my parents, not whining just saying how the area changed. They acknowledge some of this but point out, they had almost 20% interest rate at one point (when home prices were much lower). [/quote]

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