Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Was so close to buying in 2020 and 2021 and now those properties I could afford at 1.2 and 3% are at 1.7 and 6.8% and I am locked out of the UMC for the rest of my life. No equity here.

Why does a single woman need at $1.2 houses let alone a $1.7M house.

I have 2 kids. And you are missing the point. No house that was 1.2 2 years ago should be 1.7 now.

You should buy what you can afford and get on the property ladder. Then you can upgrade in the future. You don’t want to be 65 and renting.

DP. My DH and I own but at 65 would like to rent - no more upkeep.

Presumably you have equity in your current home that will allow you the freedom to rent where you want and move if you have to. Renting in retirement because you have to makes you vulnerable to the whims of a landlord. No one wants to be forced to move at 75 because the landlord raised the rent.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Troll. Nobody who can afford a $1.5M house is waiting until 50 to buy their first house.

What part of “I can’t afford a 1.5M house at 7% but could have afforded that exact same house at 1.2 and 3% five minutes ago” don’t you understand?

Don’t buy a $1.5M house?

She’s upset that she COULD but then the prices and rates changed so drastically and quickly, she can’t. And in this area, $1.5 sometimes just gets you a basic and outdated house in decent condition. It’s not extravagant for a 50 year old.

You all would be livid in her shoes, no matter the price point.

Exactly. It doesn’t really matter what OPs price point is. This is happening at all price points.

Lanham is reasonably priced, closed neighborhood

The housing price : income ratio is currently at its worst level in over 50 years!

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Was so close to buying in 2020 and 2021 and now those properties I could afford at 1.2 and 3% are at 1.7 and 6.8% and I am locked out of the UMC for the rest of my life. No equity here.

Why does a single woman need at $1.2 houses let alone a $1.7M house.

I have 2 kids. And you are missing the point. No house that was 1.2 2 years ago should be 1.7 now.

You should buy what you can afford and get on the property ladder. Then you can upgrade in the future. You don’t want to be 65 and renting.

DP. My DH and I own but at 65 would like to rent - no more upkeep.

Anonymous wrote:

Anonymous wrote:Shouldn't you be saving while you rent to offset the increase in prices? When we rented we lived in the cheapest place possible to save money because renting is throwing money away

Word do you think I have been doing for ten years raising my kids in a tiny rental so I could finally afford a nice house?

YOU CAN AFFORD A NICE HOUSE YOU ARE JUST CHOOSING NOT TO BUY ONE YOU ABSOLUTE NINNY

Anonymous wrote:Shouldn't you be saving while you rent to offset the increase in prices? When we rented we lived in the cheapest place possible to save money because renting is throwing money away

Word do you think I have been doing for ten years raising my kids in a tiny rental so I could finally afford a nice house?

Anonymous wrote:Shouldn't you be saving while you rent to offset the increase in prices? When we rented we lived in the cheapest place possible to save money because renting is throwing money away

You cant save $500k in 2 years to beat the unpredictable appreciation and quick rise in interest rates.

Shouldn't you be saving while you rent to offset the increase in prices? When we rented we lived in the cheapest place possible to save money because renting is throwing money away

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If you’re not married why do you want a 1.7m house?! They are seriously not easy to take care of and maintain. Buy a great place in the city and live the single dream.

WTF? Only married people get to live in nice houses or good neighborhoods with good schools?

If I were single no way I’d limit myself to neighborhoods with good schools. Boring!

Can you read? She has 2 kids.

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Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP I can link some nice SFHs in the $190-400k range.

LMAO

Uh yeah. Maybe in Alabama.

Well, maybe relocating to place with lower COL isn’t a bad idea. Only in DMV does a single person with a million dollars to spend feel lower-class, geez.

Sounds like you’re ignorant about what has happened to real estate prices across the country, especially in the sunbelt. Real estate hasn’t increased that much in DC. In fact it’s significantly lagging compared to other locations. OP likely missed the boat to get a good deal in a LCOL state.

You keep saying that but everything kind of close in (still outside the beltway) in NoVa is up 30% in three years.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Troll. Nobody who can afford a $1.5M house is waiting until 50 to buy their first house.

What part of “I can’t afford a 1.5M house at 7% but could have afforded that exact same house at 1.2 and 3% five minutes ago” don’t you understand?

Don’t buy a $1.5M house?

She’s upset that she COULD but then the prices and rates changed so drastically and quickly, she can’t. And in this area, $1.5 sometimes just gets you a basic and outdated house in decent condition. It’s not extravagant for a 50 year old.

You all would be livid in her shoes, no matter the price point.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP I can link some nice SFHs in the $190-400k range.

LMAO

Uh yeah. Maybe in Alabama.

Well, maybe relocating to place with lower COL isn’t a bad idea. Only in DMV does a single person with a million dollars to spend feel lower-class, geez.

Sounds like you’re ignorant about what has happened to real estate prices across the country, especially in the sunbelt. Real estate hasn’t increased that much in DC. In fact it’s significantly lagging compared to other locations. OP likely missed the boat to get a good deal in a LCOL state.

That stinks. It really is about timing. I will always give my husband credit for pushing my to buy a new home and sell our starter home in summer 2020. We would have also been priced out now. There is no way would could have saved enough to buy this house. If anyone younger is reading this, try to buy your starter home early to build equity.

Anonymous wrote:

Anonymous wrote:If you’re not married why do you want a 1.7m house?! They are seriously not easy to take care of and maintain. Buy a great place in the city and live the single dream.

WTF? Only married people get to live in nice houses or good neighborhoods with good schools?

No. Only people with the money to buy into specific desired neighborhoods can buy into those neighborhoods. Anyways I think several people missed that OP has 2 kids. But married or not, some areas are more expensive than others and if you want only the expensive areas and there’s no room to compromise then yeah, it’s going to lead to heartache. OP would likely think our SFH is a sh*shack but it’s ours in a neighborhood with okayish schools that we love. We had to compromise (and it is still less than $1.2-$1.6).