Reply to Who can afford 800K-1M homes? Genuine Curiosity!

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]As a realtor I can tell you it's a combo of people who have left over money from buying and selling at peak times, people who make saving for a house the number one priority in life (above college education or retirement for example), and people who have some kind of family trust, starter money or inheritance. True most of these people have hhi's close to 200k but very few are over 400k.[/quote]

We have several friends with a $6K mortgage.

If they weren't my friends, I'd call them idiots to their faces.

Who pays $72K/year in mostly interest?  [/quote]

I hope you're not my friend.  My $6k/month mortgage isn't a big deal for a $500k/yr salary.  Maybe you don't realize just how much I make with my bonuses...?[/quote]

Brag all you want; it won't get you anywhere with me.

I prefer to live simply on my VERY secure salary.  So while the economy crashes around me and while people lose their jobs, I'll be happy with my yearly extra $30K in the bank, my health benefits and pension.

Good luck living high on the hog.  I've already seen quite a few lose their homes to foreclosures.  One of my pals, in fact, was the happy recipient of a $1m home that went into foreclosure for less than half of that.  Her mortgage is only $50K. And guess what?  She's a Fed making only about $110K with three kids and a husband who's into real estate.

Now THAT's a smart lady.

[/quote]

You're funny.  It's an anonymous forum, how can I possibly brag?  Reality is, you have no idea if it's true, where I live, how much I paid for the house vs how much it's worth, etc.   If you're banking $30k a yr, that doesn't strike me as very much.  But perhaps that's above and beyond whatever else you bank, I don't know (or really care).

There haven't been any foreclosures anywhere near my neighorhood--it's not exactly full of McMansions.  But if you're happy believing that I'm upside-down and struggling,, working 60+hrs a week to earn that money, that's fine.  I'd hate to make you even more bitter...[/quote]

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