Anonymous
01/31/2019 10:21
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
TARP was repaid with interest without 9 mos by all the banks forced to take it to stabilize the system.
Move on and get a real point.
There are PLENTY of lucrative careers and interesting successful well-paid people in the DMV. Plenty.
Move on and get a real point.
There are PLENTY of lucrative careers and interesting successful well-paid people in the DMV. Plenty.
Anonymous
01/31/2019 10:02
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:forAnonymous wrote:Anonymous wrote:I'm amazed at how many 28-40 yo's we know that are purchasing brand new homes in Bethesda, Chevy Chase, DC, Vienna and McLean. What took my spouse and I years to afford, they are buying at a relatively young age. How do they do it here? My spouse is a partner in a law firm and our house is barely worth a million. Granted, we'll have it paid for next year. But really, Millennials what's your secret?
Millennials here. We bought our starter home for $1.2M 10 years ago at age 28. It was an apartment in Manhattan. We had no help from family.
We now live in a $2M home in Arlington.
The secret is hard work.
Investment banking?
Your welcome for TARP.
Hard work Pfftt...
Nah. But I bet PP knows the difference between your and you’re.
Of course, I majored in something practical; I’m not an English major using connections from my dad and prep school lacross team to land a sweet NYC gig.
Me, either. I did pass third grade fairly easily though. YMMV.
You’re obsession about grammar makes me wonder if you feel like a fraud b/c of the bailout too?
But NYC would be a smoking hole if the banks failed, no matter what industry PP is in. To pretend they are ‘hard-working’ success stories in NYC without acknowledging the help they received is pretty high hubris.
Lots of people work hard; many people work two jobs. Not everyone starts with they right opportunities or guidance, and they benefited from more than ‘hard work’so they should learn some grace.
What? The bailout, finance and TARP have nothing to do with how we purchased our expensive home. But I guess telling yourself these tales somehow makes you feel better? Really weird.
Depends on if your sector relied upon TARP money to remain in business. If you work in anything finance related, I guarantee that you owe your job and success to Uncle Sam for propping up the financial sector in 2009. Otherwise, you'd have spent the first half of the last decade eating canned tuna with group house roommates.
Anonymous
01/31/2019 09:45
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:forAnonymous wrote:Anonymous wrote:I'm amazed at how many 28-40 yo's we know that are purchasing brand new homes in Bethesda, Chevy Chase, DC, Vienna and McLean. What took my spouse and I years to afford, they are buying at a relatively young age. How do they do it here? My spouse is a partner in a law firm and our house is barely worth a million. Granted, we'll have it paid for next year. But really, Millennials what's your secret?
Millennials here. We bought our starter home for $1.2M 10 years ago at age 28. It was an apartment in Manhattan. We had no help from family.
We now live in a $2M home in Arlington.
The secret is hard work.
Investment banking?
Your welcome for TARP.
Hard work Pfftt...
Nah. But I bet PP knows the difference between your and you’re.
Of course, I majored in something practical; I’m not an English major using connections from my dad and prep school lacross team to land a sweet NYC gig.
Me, either. I did pass third grade fairly easily though. YMMV.
You’re obsession about grammar makes me wonder if you feel like a fraud b/c of the bailout too?
But NYC would be a smoking hole if the banks failed, no matter what industry PP is in. To pretend they are ‘hard-working’ success stories in NYC without acknowledging the help they received is pretty high hubris.
Lots of people work hard; many people work two jobs. Not everyone starts with they right opportunities or guidance, and they benefited from more than ‘hard work’so they should learn some grace.
What? The bailout, finance and TARP have nothing to do with how we purchased our expensive home. But I guess telling yourself these tales somehow makes you feel better? Really weird.
Anonymous
01/31/2019 09:41
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
Anonymous wrote:Anonymous wrote:Anonymous wrote:A. Wealthy parents financing the kids home purchase
B. Folks who have lots of equity in existing homes
C. Retired military folks buying with VA Loan and high post-retirement salaries
D. Just hardworking people who finally saved up!
But affording 1.5m by age 35 takes more than saving. A $1.4M house appreciating at 3% is going up by $40k every year — you can’t save nickels fast enough to keep up with rising prices.
Above $1m is slow to appreciate and slow to sell. Check it out for yourself.
Properties with gift loan amounts ($625k loans?) sell fast, not super jumbo loan properties. Esp not now that only $750k of super jumbo loan is a tax shield and not $1M loans like before.
It depends where and, to a degree, how much over $1m. There are plenty of areas around here where houses in the $1.1-1.4M or so range move quickly. Above $1.5M or $2M, you have fewer buyers so they can sit longer, but there is still plenty of a market for these in some neighborhoods around here.
Anonymous
01/31/2019 09:32
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
Anonymous wrote:Anonymous wrote:A. Wealthy parents financing the kids home purchase
B. Folks who have lots of equity in existing homes
C. Retired military folks buying with VA Loan and high post-retirement salaries
D. Just hardworking people who finally saved up!
But affording 1.5m by age 35 takes more than saving. A $1.4M house appreciating at 3% is going up by $40k every year — you can’t save nickels fast enough to keep up with rising prices.
Above $1m is slow to appreciate and slow to sell. Check it out for yourself.
Properties with gift loan amounts ($625k loans?) sell fast, not super jumbo loan properties. Esp not now that only $750k of super jumbo loan is a tax shield and not $1M loans like before.
Anonymous
01/31/2019 09:31
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:forAnonymous wrote:Anonymous wrote:I'm amazed at how many 28-40 yo's we know that are purchasing brand new homes in Bethesda, Chevy Chase, DC, Vienna and McLean. What took my spouse and I years to afford, they are buying at a relatively young age. How do they do it here? My spouse is a partner in a law firm and our house is barely worth a million. Granted, we'll have it paid for next year. But really, Millennials what's your secret?
Millennials here. We bought our starter home for $1.2M 10 years ago at age 28. It was an apartment in Manhattan. We had no help from family.
We now live in a $2M home in Arlington.
The secret is hard work.
Investment banking?
Your welcome for TARP.
Hard work Pfftt...
Nah. But I bet PP knows the difference between your and you’re.
Of course, I majored in something practical; I’m not an English major using connections from my dad and prep school lacross team to land a sweet NYC gig.
Me, either. I did pass third grade fairly easily though. YMMV.
You’re obsession about grammar makes me wonder if you feel like a fraud b/c of the bailout too?
But NYC would be a smoking hole if the banks failed, no matter what industry PP is in. To pretend they are ‘hard-working’ success stories in NYC without acknowledging the help they received is pretty high hubris.
Lots of people work hard; many people work two jobs. Not everyone starts with they right opportunities or guidance, and they benefited from more than ‘hard work’so they should learn some grace.
Its as if you wrote the check for TARP! Not an investment banker, and not PP, but I hope you took your TARP proceeds and invested them well. Between you and Warren Buffet with his warrant deals, folks did well off those evil banks.
Anonymous
01/31/2019 09:25
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
Anonymous wrote:A. Wealthy parents financing the kids home purchase
B. Folks who have lots of equity in existing homes
C. Retired military folks buying with VA Loan and high post-retirement salaries
D. Just hardworking people who finally saved up!
I think most of us are just willing to shell out more to live closer in.
We could have bought a 1 million plus house, but we went cheap and renovated.
Anonymous
01/31/2019 09:20
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
Anonymous wrote:A. Wealthy parents financing the kids home purchase
B. Folks who have lots of equity in existing homes
C. Retired military folks buying with VA Loan and high post-retirement salaries
D. Just hardworking people who finally saved up!
But affording 1.5m by age 35 takes more than saving. A $1.4M house appreciating at 3% is going up by $40k every year — you can’t save nickels fast enough to keep up with rising prices.
Anonymous
01/31/2019 09:07
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
A. Wealthy parents financing the kids home purchase
B. Folks who have lots of equity in existing homes
C. Retired military folks buying with VA Loan and high post-retirement salaries
D. Just hardworking people who finally saved up!
B. Folks who have lots of equity in existing homes
C. Retired military folks buying with VA Loan and high post-retirement salaries
D. Just hardworking people who finally saved up!
Anonymous
01/31/2019 09:05
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
Anonymous wrote:I'm amazed at how many 28-40 yo's we know that are purchasing brand new homes in Bethesda, Chevy Chase, DC, Vienna and McLean. What took my spouse and I years to afford, they are buying at a relatively young age. How do they do it here? My spouse is a partner in a law firm and our house is barely worth a million. Granted, we'll have it paid for next year. But really, Millennials what's your secret?
We went to college on academic scholarship, worked in NYC and London, pocketed our bonuses, paid for grad school, got jobs again, got married, bought a house, had kids, continue to work and invest our bonuses. With taxes going up and returns going down, it will be interesting times. I don’t see property going up, not when taxes across the board are rising.
Anonymous
01/31/2019 09:02
Subject: Re:How are Millennials affording new $1.5+million home in MD, DC and VA?
Thank goodness they are! I want to sell my 1.4m house in the next 5 years so hopefully this keeps up.
We bought our first house at 26, the next at 28 and this one at 37. If you don’t buy your big house by 40 to some extent what’s the point? By the 50s it’s getting time to think about downsizing. Who needs a big house and all the maintenance once the kids are gone?
We bought our first house at 26, the next at 28 and this one at 37. If you don’t buy your big house by 40 to some extent what’s the point? By the 50s it’s getting time to think about downsizing. Who needs a big house and all the maintenance once the kids are gone?
Anonymous
01/31/2019 08:58
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
Anonymous wrote:They have more grit!
Haha, is YOUR job corporate inspiration posters?
Anonymous
01/31/2019 08:50
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
They have more grit!
Anonymous
01/31/2019 08:46
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:forAnonymous wrote:Anonymous wrote:I'm amazed at how many 28-40 yo's we know that are purchasing brand new homes in Bethesda, Chevy Chase, DC, Vienna and McLean. What took my spouse and I years to afford, they are buying at a relatively young age. How do they do it here? My spouse is a partner in a law firm and our house is barely worth a million. Granted, we'll have it paid for next year. But really, Millennials what's your secret?
Millennials here. We bought our starter home for $1.2M 10 years ago at age 28. It was an apartment in Manhattan. We had no help from family.
We now live in a $2M home in Arlington.
The secret is hard work.
Investment banking?
Your welcome for TARP.
Hard work Pfftt...
Nah. But I bet PP knows the difference between your and you’re.
Of course, I majored in something practical; I’m not an English major using connections from my dad and prep school lacross team to land a sweet NYC gig.
Me, either. I did pass third grade fairly easily though. YMMV.
You’re obsession about grammar makes me wonder if you feel like a fraud b/c of the bailout too?
But NYC would be a smoking hole if the banks failed, no matter what industry PP is in. To pretend they are ‘hard-working’ success stories in NYC without acknowledging the help they received is pretty high hubris.
Lots of people work hard; many people work two jobs. Not everyone starts with they right opportunities or guidance, and they benefited from more than ‘hard work’so they should learn some grace.
Anonymous
01/31/2019 08:35
Subject: How are Millennials affording new $1.5+million home in MD, DC and VA?
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:I'm amazed at how many 28-40 yo's we know that are purchasing brand new homes in Bethesda, Chevy Chase, DC, Vienna and McLean. What took my spouse and I years to afford, they are buying at a relatively young age. How do they do it here? My spouse is a partner in a law firm and our house is barely worth a million. Granted, we'll have it paid for next year. But really, Millennials what's your secret?
Millennials here. We bought our starter home for $1.2M 10 years ago at age 28. It was an apartment in Manhattan. We had no help from family.
We now live in a $2M home in Arlington.
The secret is hard work.
Investment banking?
Your welcome for TARP.
Hard work Pfftt...
Nah. But I bet PP knows the difference between your and you’re.
Of course, I majored in something practical; I’m not an English major using connections from my dad and prep school lacross team to land a sweet NYC gig.
Me, either. I did pass third grade fairly easily though. YMMV.