Anonymous wrote:

Anonymous wrote:It seems weird to expect people who own an asset to hope the value will go down so that someone else can afford to buy it. If housing values drop, some people will be underwater, lose all equity and may be forced to sell. This would benefit you nicely but that other family just lost their home.

It’s similar to the whining as to why boomers aren’t updating their homes AND pricing them as if they aren’t updated, so new buyers get a better deal and hassle free move in ready with HGTV design.

The housing crisis is about basic high density housing and fast, reliable public transit not being available leading people into homelessness or sitting in their car 3-4 hours a day commuting. The housing crisis is NOT you not being able to afford a nice SFH near walkable restaurants, great school district and short commute.

This. I'm sorry that your priorities and expenses now are not the same as mine were when I was your age, but your salary is also significantly higher than mine was when I was your age and the cost of everything has gone up for me, too. Do what the rest of us did and start small and crappy, then work your way up.

Anonymous wrote:I sort of do. Our house is overpriced. Even I can see that. We can’t upgrade because the houses we’d consider are going up faster than ours. The percentage may be the same but the dollar gap grows bigger. Also, my kids will never be able to purchase anywhere in the DC region at this rate. Our young adult college grad daughter works full time and can’t even afford rent within an hour commute of Bethesda.

Anonymous wrote:
It seems weird to expect people who own an asset to hope the value will go down so that someone else can afford to buy it. If housing values drop, some people will be underwater, lose all equity and may be forced to sell. This would benefit you nicely but that other family just lost their home.

It’s similar to the whining as to why boomers aren’t updating their homes AND pricing them as if they aren’t updated, so new buyers get a better deal and hassle free move in ready with HGTV design.

The housing crisis is about basic high density housing and fast, reliable public transit not being available leading people into homelessness or sitting in their car 3-4 hours a day commuting. The housing crisis is NOT you not being able to afford a nice SFH near walkable restaurants, great school district and short commute.


This. I'm sorry that your priorities and expenses now are not the same as mine were when I was your age, but your salary is also significantly higher than mine was when I was your age and the cost of everything has gone up for me, too. Do what the rest of us did and start small and crappy, then work your way up.

Anonymous wrote:It seems weird to expect people who own an asset to hope the value will go down so that someone else can afford to buy it. If housing values drop, some people will be underwater, lose all equity and may be forced to sell. This would benefit you nicely but that other family just lost their home.

It’s similar to the whining as to why boomers aren’t updating their homes AND pricing them as if they aren’t updated, so new buyers get a better deal and hassle free move in ready with HGTV design.

The housing crisis is about basic high density housing and fast, reliable public transit not being available leading people into homelessness or sitting in their car 3-4 hours a day commuting. The housing crisis is NOT you not being able to afford a nice SFH near walkable restaurants, great school district and short commute.

Anonymous wrote:

^ Instead of having the tax man "harass" you, you will be forced to harass the landlord in order to get things done. Ask me how I know.


That said, renters have peace of mind that they do not have to deal with maintenance. If you don't own the property, you start to not care that much about that home maintenance. As a renter, I routinely let things linger.

Anonymous wrote:
^ Instead of having the tax man "harass" you, you will be forced to harass the landlord in order to get things done. Ask me how I know.

Anonymous wrote:


How old will you be when you retire? How many more years do you think you might live? It could be 30 or more. Here's the thing. When the dollar is devalued (it has been devalued 10% since Trump took office) and your bank is paying very little interest, your 2M might not look like such a great amount (especially if you give some of the money to your children for their move up home as well). Your money will be worth less as time goes on. But if you keep your home and enjoy it, you won't have to worry about rent increases and you will likely have a nicer place than the "rental". Plus your children can inherit a real home and we all need shelter. It's real estate (you know, something real). So it can be important to have that as part of your wealth. Your rent could well be more than the taxes, insurance and maintenance costs on your house and you don't know if your $2M in the bank will keep up with your costs anyway. Personally I plan to keep up my house because it's a very comfortable place (garage and parking steps from my door, beautiful yard to maintain privacy from neighbors) and I feel like quality of life is worth a lot as you age. Then again, my house is not worth $2M. It's probably half that, but it's a nice place and the right size.



Honestly, after working my ass off to pay off my mortgage I hate the idea that the tax man will still be harassing me. I will also not want the cost of maintaining my home - yard, AC, plumbing and electrical stuff that I do currently. I want to be free and I think renting is the better option in that regard.

Anonymous wrote:

Anonymous wrote:


I think you answered your own question. Major political change due to economic stresses. We are already seeing it. Dollar is ourbeing devalued. Markets collapse. Your home relative to the strength of the dollar will weaken as an asset. But hopefully you view it as a place to live and not an appreciating asset. When you consider taxes, insurance, and maintenance it's not really a great "investment" anyway unless you get lucky with your location improving or something like that.

Exactly this! That is why when I retire and pay off my home I’ll be putting the [b]2M in the bank and become a renter in the same neighborhood. [/b]Or, I’ll be given my children the money to purchase their move up home. I’ll still have enough retirement to cover living expenses and health

How old will you be when you retire? How many more years do you think you might live? It could be 30 or more. Here's the thing. When the dollar is devalued (it has been devalued 10% since Trump took office) and your bank is paying very little interest, your 2M might not look like such a great amount (especially if you give some of the money to your children for their move up home as well). Your money will be worth less as time goes on. But if you keep your home and enjoy it, you won't have to worry about rent increases and you will likely have a nicer place than the "rental". Plus your children can inherit a real home and we all need shelter. It's real estate (you know, something real). So it can be important to have that as part of your wealth. Your rent could well be more than the taxes, insurance and maintenance costs on your house and you don't know if your $2M in the bank will keep up with your costs anyway. Personally I plan to keep up my house because it's a very comfortable place (garage and parking steps from my door, beautiful yard to maintain privacy from neighbors) and I feel like quality of life is worth a lot as you age. Then again, my house is not worth $2M. It's probably half that, but it's a nice place and the right size.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I do wish they would decline. My wife and I were discussing how none of our young friends (responsible professionals) are finding it possible to afford a house. My 9-year-old daughter asked for more info, and my wife explained that housing prices have gone up much faster than wages over the last 10 years. And that we wouldn't have been able to afford our own house under these circumstances.

My daughter said, "What will happen to us (her and her siblings), then?"

What indeed?

DH and I live below our means (except for private school) to be able to buy each of our 4 kids a decent house in NW DC. We buy and rent so the rent pays for the mortgage. We have been lucky so far, but I do worry about rents decreasing/unemployment increasing…

Yes, agree, this is more or less what we told her. We have 4 kids, too, and 1 on the way. I don't know that we'll be in quite as good a position as you are, but we'll be able to help substantially.

Anonymous wrote:


I think you answered your own question. Major political change due to economic stresses. We are already seeing it. Dollar is ourbeing devalued. Markets collapse. Your home relative to the strength of the dollar will weaken as an asset. But hopefully you view it as a place to live and not an appreciating asset. When you consider taxes, insurance, and maintenance it's not really a great "investment" anyway unless you get lucky with your location improving or something like that.

Exactly this! That is why when I retire and pay off my home I’ll be putting the [b]2M in the bank and become a renter in the same neighborhood. [/b]Or, I’ll be given my children the money to purchase their move up home. I’ll still have enough retirement to cover living expenses and health