Anonymous
08/14/2018 10:31
Subject: When were people in the DC area able to afford their first house?
Anonymous wrote:Cracks me up when people say what "how is worth." It's paper money folks. Your is house is only going to be worth what someone actually pays for it and the market overall is coolling down!
You are correct, of course, that what a house is "worth" today may or may not be the same as what it is worth tomorrow or on the day you decide to sell it. But that is no different than stocks, bonds, currency, precious metals, fine art, or any other asset for that matter.
Anonymous
08/14/2018 10:26
Subject: When were people in the DC area able to afford their first house?
Cracks me up when people say what "how is worth." It's paper money folks. Your is house is only going to be worth what someone actually pays for it and the market overall is coolling down!
Anonymous
08/14/2018 10:18
Subject: When were people in the DC area able to afford their first house?
Bought $400K rowhouse in DC at age 32 (DH was same age). Put 10% down. Used home equity and savings to buy forever house six years later.
Anonymous
08/14/2018 09:56
Subject: When were people in the DC area able to afford their first house?
Anonymous wrote:Anonymous wrote:Bought in 1998 in NW DC for $250,000. Put down 10% - we saved $15,000, and DH's parents gave us $10,000. We were 30, with a HHI of $120,000. Still live there, and the house is now worth $900,000.
Wow, so in 20 years my row house should be worth 2.8M! (I bought it last year for $800k). AWESOME!
Past performance is not indicative of future results.
Anonymous
08/14/2018 09:45
Subject: When were people in the DC area able to afford their first house?
Anonymous wrote:Bought in 1998 in NW DC for $250,000. Put down 10% - we saved $15,000, and DH's parents gave us $10,000. We were 30, with a HHI of $120,000. Still live there, and the house is now worth $900,000.
Wow, so in 20 years my row house should be worth 2.8M! (I bought it last year for $800k). AWESOME!
Anonymous
08/14/2018 09:09
Subject: When were people in the DC area able to afford their first house?
Bought in 1998 in NW DC for $250,000. Put down 10% - we saved $15,000, and DH's parents gave us $10,000. We were 30, with a HHI of $120,000. Still live there, and the house is now worth $900,000.
Anonymous
08/14/2018 09:04
Subject: When were people in the DC area able to afford their first house?
Anonymous wrote:Please specify the year you bought. That is the key IMO
I'm one of the upthread posters (bought a 2BR condo in Logan circle area when I was 30 and wife was 28; still in same condo now). We bought in 2012.
Anonymous
08/14/2018 08:15
Subject: When were people in the DC area able to afford their first house?
Please specify the year you bought. That is the key IMO
Anonymous
08/14/2018 07:43
Subject: When were people in the DC area able to afford their first house?
36 & 37 - first home. HHI $350K....house cost $1.25 million.
Anonymous
08/14/2018 06:06
Subject: When were people in the DC area able to afford their first house?
38, 2013 — first home, $800k. $250k HHI. No family money, just rented cheap apartments saving up down payment, had kids in apt until middle school.
Anonymous
08/13/2018 19:17
Subject: When were people in the DC area able to afford their first house?
Bought a townhouse on my own at age 32 in 2001. It cost $115k.
Anonymous
08/13/2018 17:17
Subject: Re:When were people in the DC area able to afford their first house?
32 and 29 for the two of us.
Anonymous
08/13/2018 16:49
Subject: When were people in the DC area able to afford their first house?
Sorry for the double post!
Anonymous
08/13/2018 16:49
Subject: When were people in the DC area able to afford their first house?
29 in DC not married mom gave me $3k. I purchased in 2000 in Bloomingdale so it was expensive to me but in reality cheap!
Anonymous
08/13/2018 16:48
Subject: When were people in the DC area able to afford their first house?
Age 29, on my own and mom gave me a very small amount (like $3k). I first purchased in DC in 2000 in Bloomingdale so homes were cheaper.