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Reply to "It’s extremely hard to raise kids in a nice neighborhood without generational wealth "
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[quote=Anonymous]We bought a small $250k starter apartment in NYC in our 20s, back in 1994. Being able to "trade up" twice as real estate prices skyrocketed into the early 2000s meant that we could stay in our neighborhood and comfortably raise children here without being priced out. That kind of thing is not going to be an option for young adults. That "starter" apartment would now sell for $800k, and it's not going to double in appreciation in five years like it did between 1994 and 1999. If our DCs want to live in their hometown as adults, they will likely not be able to purchase a home without our help until they are significantly along in their careers.[/quote]
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