Anonymous wrote:

Anonymous wrote:I’ve lived in Fairfax, McLean, and Arlington and multi generational living is common in all three places. It’s how people pull off big mortgage payments. It takes a village.

This sounds horrible. I would live in exurbs before I subjected myself to this living arrangement.

Part of it is cultural as another poster mentioned. Multi generational living is the norm in many cultures because they come from places where housing has been unaffordable or unavailable for much longer than we have dealt with here. It will be our new normal too.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Meritocracy is out and inheritance is in is the message from OP.

OP is just jealous and doesn’t seem to have a clue about how the world works.

I disagree.
She is answering the frequently asked question of “how are young people affording this crazy house prices.”

I moved here in the early 80s and young couples couldn't afford anything more than a townhouse a long commute away or a condo you'd never make money on close in. We all had to wait to move up in our jobs to save money for the down payment. Once we got on the property ladder we were able to move up.


What type of house are you talking about affording op? Clearly you get to skip living in a townhouse 1.5 hours in rush from your house because you are more special than the rest of us.

And I walked ten miles to school every day, in waist-high snow, without any shoes ...

C'mon. Stop it with this boomer nonsense. Sure, there is entitled stupidity rolling off of the OP, but you sound stupid too.

+1

I’m an older millennial and started out in a starter home a good 10 miles outside the beltway. That starter place was 550k and we were able to save up to make the jump to a closer in home for 800k 6 years later at a 2.75% rate. 4 years later that house is now worth $1.2M and rates are more than double. I couldn’t afford to buy my own house now despite being 15 years into my career.

Most trying to buy the first home today can’t save faster than inflation/interest rate increases. So it’s a) hard to even get on the property ladder and b) there’s no guarantee they’ll ever save enough to move up if people with low rates stay put and inventory is low. So whatever they buy now should be somewhere they’re ok for long-ish term.

It’s so totally disingenuous to compare the market of the 1980s or even the 20-teens to today. The ship has sailed on most sought after close-in neighborhoods near DC.

I guess if you’re willing to take a gamble on somewhere with higher crime rates and poorer performing public schools, maybe that will pay off. But the fact those places are still affordable even after rapid appreciation elsewhere is a sign these may not be up and coming.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Always amazes me how people like OP feel entitled to other people's things.

OP here: we actually saved a six figure down-payment and closing costs without any family help. Paid for our own wedding too. Also paid off our student loans. But we got "lucky" by pivoting multiple times in our careers for better jobs, striving for big promotions, etc.

Vast majority of our friends who had a similar profile as us - i.e., had to pay for their own house, their own wedding, their own student loans - had to leave the area completely or moved very far out to make it work.

So, no, I do not feel entitled to other people's things. But it wasn't until our kid was in school that we really had no idea how "things really work" in nicer DMV neighborhoods.

You are listing the ways you’ve boot-strapped like you want to be rewarded for your hard work. You have been- you got to buy a home in the neighborhood you want. Good on you. Hopefully your efforts will produce benefits for your children.

The people you are judging have benefited from the efforts of their loved ones and they too get to live in the neighborhood they want. Good on them.

It’s surprising that you’re surprised by how generational wealth is earned, preserved, and transferred. Did you think everyone around you was new money just because you are?

It’s common that parents want to help their progeny have good lives. Those who can, do.

There are people that do what op did and come from rich families. Some rich families do want their kids to make it on their own and provide no help. The most some of these rich parents may do is pay their education (which is a gift).

Anonymous wrote:I get the sense that multigenerational living is the norm everywhere on the planet but the US. The "rent" is usually just the way the adults all contribute to the mortgage and utilities equally. It is a way to build wealth for one generation while keeping the older generation in their own homes as long as possible. Which saves money on assisted living and/or potential nursing home situations. If you don't have that option and are the first to be building that life in a family then it can be frustrating to see other people already reaping the benefits. But it's just pure jealousy to be so angry about the situation. FWIW, I think for most it's a trade off. Yes, they are building wealth, but it can be rough emotionally. I would only live with my parents as a last resort.

This! Glad to be an American.😀

Anonymous wrote:I’ve lived in Fairfax, McLean, and Arlington and multi generational living is common in all three places. It’s how people pull off big mortgage payments. It takes a village.

This sounds horrible. I would live in exurbs before I subjected myself to this living arrangement.

I get the sense that multigenerational living is the norm everywhere on the planet but the US. The "rent" is usually just the way the adults all contribute to the mortgage and utilities equally. It is a way to build wealth for one generation while keeping the older generation in their own homes as long as possible. Which saves money on assisted living and/or potential nursing home situations. If you don't have that option and are the first to be building that life in a family then it can be frustrating to see other people already reaping the benefits. But it's just pure jealousy to be so angry about the situation. FWIW, I think for most it's a trade off. Yes, they are building wealth, but it can be rough emotionally. I would only live with my parents as a last resort.

Anonymous wrote:

Anonymous wrote:I don’t know anyone who does. I live in Capitol Hill. Maybe our neighborhood isn’t nice enough?

I live in Capitol Hill and know two families in this situation. In one instance, they used to live in a much smaller house on the Hill and I was confused when they "upgraded" because they have very middle class jobs. But then they mentioned the house had been in her family and it made sense. There is no resentment there-- it was useful to understand.

Do those two families make you feel like people who want to buy are shut out?

The original post is based on assumptions and no real knowledge. comments are of the same ilk.

I’ve lived in Fairfax, McLean, and Arlington and multi generational living is common in all three places. It’s how people pull off big mortgage payments. It takes a village.

Anonymous wrote:I don’t know anyone who does. I live in Capitol Hill. Maybe our neighborhood isn’t nice enough?

I live in Capitol Hill and know two families in this situation. In one instance, they used to live in a much smaller house on the Hill and I was confused when they "upgraded" because they have very middle class jobs. But then they mentioned the house had been in her family and it made sense. There is no resentment there-- it was useful to understand.

I don’t know anyone who does. I live in Capitol Hill. Maybe our neighborhood isn’t nice enough?

Anonymous wrote:

Anonymous wrote:Housing is too expensive so multi-generational living is becoming more common. Sign of the times.

To people bashing OP, you missed the point that she’s telling people who may be puzzled why others are pulling off “homeownership “ and they aren’t that this could be why: they didn’t actually buy the home - they’re adults living with their parents. So it’s also not “they don’t buy Starbucks” and “they lived off Ramen for 10 years” or “they commuted for 15 years first.”

Exactly. I don't get the level of defensiveness on this thread. OP isn't making a value judgment she's just trying to share contextual info that might help people who feel shut out of the housing market.

I think this topic brings out the trolls because it takes so little creativity for them to find ways to insult people and they all sound the same.

Anonymous wrote:

Anonymous wrote:Housing is too expensive so multi-generational living is becoming more common. Sign of the times.

To people bashing OP, you missed the point that she’s telling people who may be puzzled why others are pulling off “homeownership “ and they aren’t that this could be why: they didn’t actually buy the home - they’re adults living with their parents. So it’s also not “they don’t buy Starbucks” and “they lived off Ramen for 10 years” or “they commuted for 15 years first.”

But OP is wrong. I bet he met one family like this rather than “dozens” and is telling himself it is the system (which he benefits from since he is in the fancy school district) of generational wealth rather than his own bad choices - Starbucks, Birkin bags, real estate you can’t afford - keeping him down.

You have no idea if op is wrong. And you are making up all kinds of information. You sound like a troll.

Another thread where almost no one who uses the word “entitled” knows what it means - or how to read. *shocked*