no way my rent is like 43%

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ughh boomers

We make $330k and are at 15% for our PITI and bought in 2020. I don’t think a lot of these posts are from boomers.

Similar.

Same!

I have no idea what we are of gross, but we are at about 23% of net, which is comfortable.

Anonymous wrote:

Anonymous wrote:Yep, ours is only 13%. We’re financial geniuses!

….except that the home we love and that works so well for our commutes is near public schools so bad that we spend another 16% on private school. Lolsob. So the price of our housing choice is really 29%.

Oh, well. We have great commutes, love our house, and our kid is getting a fantastic education. I can’t complain. But I don’t feel financially smart.

No one sending their kids to a private school is a financial genius. You’re paying for something that is available for free. That other 16% you’re paying is for being a bad parent and failing to empower your kid with the self-confidence, discipline, and intellectual capacity needed to excel at a public school or in the face of any adversity.

Uh, okay. Sure. Got it. You definitely sound like a person full of good judgment whose life advice is valuable.

Gross? Sure, I'm at about 19% of gross. But after maxing out my 401(k) and getting paid biweekly instead of monthly, my rent is about 45% of my take-home. Which is tight, but doable.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Ughh boomers

We make $330k and are at 15% for our PITI and bought in 2020. I don’t think a lot of these posts are from boomers.

Gen X. Close enough. But who cares what so called generation people have been labeled with.

Are you kidding? Gen X is literally nothing like Boomers. Especially if you are at the end of Gen X. We are also nothing like Millenials. We literally paid for the benefits that Gen X got, plus in many cases take care of them in retirement. And, we pay for our children, trying to prevent them from incurring debt and trying to leave them something on top of that. And, oh yeah, we also pay for ourselves. We are a small generation who doesn't complain (this diatribe excepted). We are nothing like Boomers who took from everyone with no remorse and we are nothing like the Millenials, who are jealous of the Boomers in a disgusting way. We are also nothing like gen Z, who has no concept of what work is (like many Millenials). And for what it is worth, for those of us born at the end of Gen X, shortly after we entered the workforce we encountered the worst economy the world had seen since the Great Depression. Unlike Millenials and Gen Z who complain that they cannot afford houses, we had houses but they were worth generally several hundred thousand less than we owed on them.

You need to keep it as low as possible if you want to have kids, travel, etc.

Live like peasants when you are young. Better yet: crash with your folks and sock away cash. You’ll thank me later.

Anonymous wrote:

Anonymous wrote:Yep, ours is only 13%. We’re financial geniuses!

….except that the home we love and that works so well for our commutes is near public schools so bad that we spend another 16% on private school. Lolsob. So the price of our housing choice is really 29%.

Oh, well. We have great commutes, love our house, and our kid is getting a fantastic education. I can’t complain. But I don’t feel financially smart.

No one sending their kids to a private school is a financial genius. You’re paying for something that is available for free. That other 16% you’re paying is for being a bad parent and failing to empower your kid with the self-confidence, discipline, and intellectual capacity needed to excel at a public school or in the face of any adversity.

Easy to talk when it’s not your kids.

Anonymous wrote:

Anonymous wrote:Nope. We’re currently at a HHI of $16K/mo and our house expenses are over $5K/mo. Things are definitely tight.

Is that your Gross income? If so that is crazy!

Yep. Job losses hurt.

Anonymous wrote:Yep, ours is only 13%. We’re financial geniuses!

….except that the home we love and that works so well for our commutes is near public schools so bad that we spend another 16% on private school. Lolsob. So the price of our housing choice is really 29%.

Oh, well. We have great commutes, love our house, and our kid is getting a fantastic education. I can’t complain. But I don’t feel financially smart.

No one sending their kids to a private school is a financial genius. You’re paying for something that is available for free. That other 16% you’re paying is for being a bad parent and failing to empower your kid with the self-confidence, discipline, and intellectual capacity needed to excel at a public school or in the face of any adversity.

Yep, ours is only 13%. We’re financial geniuses!

….except that the home we love and that works so well for our commutes is near public schools so bad that we spend another 16% on private school. Lolsob. So the price of our housing choice is really 29%.

Oh, well. We have great commutes, love our house, and our kid is getting a fantastic education. I can’t complain. But I don’t feel financially smart.

Yes. I own a condo in a good school district ( it helps that I bought it a while back).

About 12%, as we financed about 400k and refinanced at 3%. (HH income about 200k).
However, we put an extra $700 a month toward principal, because we would like to have it paid off by the time we retire in about 20 years, so that gets us to .16%.
We also have gotten significant raises since we bought five years ago.
Wish we could afford a little bigger (it's 1300 sq ft) but love the location.

Anonymous wrote:Nope. We’re currently at a HHI of $16K/mo and our house expenses are over $5K/mo. Things are definitely tight.

Is that your Gross income? If so that is crazy!

Anonymous wrote:

Anonymous wrote:310k HHI, 5900/mo PITI

So about 25% gross income, 38% of take home

Tight but we make it work. Borrowed well over a million dollars with no money down on a VA loan at 2.25% interest. Painful now, but will be a nice bit of family wealth in the future

Just did the math on assuming 2% appreciation and the amortization on the mortgage. House is adding about 50k to networth a year right now. It's inside the beltway zoned to a great school zone and near metro

I don't bother calculating how much my house is adding to my net worth each year, though — I still need somewhere to live. (I also don't consider mortgage principal to be going toward savings, which I know some people do.) We sold our previous house for a large profit, about 7x what our down payment had been, so I realize there's a potential for large gains, but it's really just theoretical unless you move, so I don't see the point in considering it part of my assets.