Reply to How does someone buy a 2M+ house in their 20’s just a few years out of grad school?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I know an acquaintance who just did this. They only have a handful of years work experience. I make pretty decent money at 29 but I can’t even fathom buying a $1M house let alone 2 million. [/quote]

Parents/grandparents gave them money for down payment. 
If they are from law profession or own startups in AI or are extremely smart working at a company like Apple or Amazon, they are making a lot more money. 
The younger generation in their 20s is a risk taking generation. They feel about $2M exactly the way we in our later 40s feel about $900K. [/quote]

So I looked up the address, it’s in Arlington. There was a transfer between the owner’s father and them. Looked up the father, he is the president and CEO of a biotech company. I guess it makes sense now. Property was bought in cash. There’s no way the husband earns more than 200k, he does not work for Palantir or any well known publicly traded company. They have 2 young kids and will send them to private school [/quote]

There you have it. Lucky sperm club. There's always people like this.

My father's grandfather died when he was 25 and left him $30,000. This was in the mid 70s. My parents were newly married and they used it to buy their house, putting down all the money to pay 50% of the house value. It was the 70s, stock market was moribund, interest rates and inflation were both high. A $60k house was on the expensive side of housing at the time. My parents had some improvements done when they moved in and every time the service people or repairmen came to the house, they assumed my parents were the kids of the owners. My mother still laughs about it. [/quote]

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