Anonymous wrote:This exercise is meaningless without

Purchase Price
down payment
Year of purchase

I mean $3800 PITI is about a $800k at 2.75%. So everyone posting bought a townhouse, or in PW county, or has a Time Machine

Anonymous wrote:

Anonymous wrote:WTf? We make $250K and our mortgage is $4500 (PITI). It's not "tight" at all. What are the rest of you spending your money on that your income is twice as much as ours and you can barely afford a $4000 mortgage payment?

It’s not right for us (income is around 430k and we have a 3800 mortgage) but we also have a 5k monthly college tuition bill. If we didn’t have that we could have a higher mortgage.

Anonymous wrote:WTf? We make $250K and our mortgage is $4500 (PITI). It's not "tight" at all. What are the rest of you spending your money on that your income is twice as much as ours and you can barely afford a $4000 mortgage payment?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Too many low mortgages here. Good for you.

I think no one mentions that they put $500,000 + down and refinanced during the pandemic.

You don't need to live in a $1m house. Where do you think the vast majority of people, who cannot afford a $4000/month mortgage, live? Do you drive outside of NW DC or Chevy Chase?

90s SFH cost $1M in Howard County now. If you want functioning public schools and a SFH and drive less than hour to DC, $1M is price of admission.

Sure you can maybe find a 1300 brick rambler from the 30s in original condition in Silver Spring for $500k — but long term maintenance will kill you and you have slower appreciation because of lower performing schools — you are paying $500k for a lot essentially at that point in the houses lifetime.

that's usually not how these things work out. you're doing a historical comparison between two examples and projecting a linear interpolation based solely on recent performance.

what's far more likely is that the Silver Spring place will increase 50% to $750k long before the Howard County home increases 50% to $1.5M.

(And I don't live in either location, and my house is much more akin to the Howard Country example. I'm just pointing out that if you make your investment decisions based on what is currently expensive, you are going to underperform the market benchmarks...for any class of investment.)

Silver Spring and it’s schools are more akin to PG county than Howard County. So you are suggesting PG county is the better investment?

It’s all about school quality; it’s a tale of two cities, good school’s appreciate, bad schools stagnate.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Too many low mortgages here. Good for you.

I think no one mentions that they put $500,000 + down and refinanced during the pandemic.

You don't need to live in a $1m house. Where do you think the vast majority of people, who cannot afford a $4000/month mortgage, live? Do you drive outside of NW DC or Chevy Chase?

90s SFH cost $1M in Howard County now. If you want functioning public schools and a SFH and drive less than hour to DC, $1M is price of admission.

Sure you can maybe find a 1300 brick rambler from the 30s in original condition in Silver Spring for $500k — but long term maintenance will kill you and you have slower appreciation because of lower performing schools — you are paying $500k for a lot essentially at that point in the houses lifetime.

that's usually not how these things work out. you're doing a historical comparison between two examples and projecting a linear interpolation based solely on recent performance.

what's far more likely is that the Silver Spring place will increase 50% to $750k long before the Howard County home increases 50% to $1.5M.

(And I don't live in either location, and my house is much more akin to the Howard Country example. I'm just pointing out that if you make your investment decisions based on what is currently expensive, you are going to underperform the market benchmarks...for any class of investment.)

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Too many low mortgages here. Good for you.

I think no one mentions that they put $500,000 + down and refinanced during the pandemic.

You don't need to live in a $1m house. Where do you think the vast majority of people, who cannot afford a $4000/month mortgage, live? Do you drive outside of NW DC or Chevy Chase?

90s SFH cost $1M in Howard County now. If you want functioning public schools and a SFH and drive less than hour to DC, $1M is price of admission.

Sure you can maybe find a 1300 brick rambler from the 30s in original condition in Silver Spring for $500k — but long term maintenance will kill you and you have slower appreciation because of lower performing schools — you are paying $500k for a lot essentially at that point in the houses lifetime.