Agreed. Half the time these posts are just weird flexes anyway: ‘I make $500K a year, no debt, and have $1M in retirement savings. Oh, and I’m 20 years old with a 50% annual raise. But these 6% interest rates are just destroying me!’
A lot of these posts are just people flexing their salaries, savings, or household income.
I kind of want these folks to buy the houses just to see the posts six months later: ‘How screwed am I for buying this house on my income?’ or ‘Help, I regret buying this house.’
No wonder there’s $18 trillion in household debt in the U.S.
@Eli
My wife and I bought an expensive house last year. We have a high mortgage but also a good household income.
The first year was tough because we had to repair major things like the roof, which we didn’t know about when we bought it. Our savings took a hit, but we’ve recovered now. Things have settled, and we’re planning to refocus on retirement savings this year.
It’s doable, but there are tough moments. Still, owning your own home can be worth it.
No one posts realistic situations because everyone on here will just tell them not to buy.
Here’s an example of what this sub would hate:
‘Hey, can I afford a $290K house with a $10K down payment on a $75K salary? I have no savings and $50K in a 401(k)—which I’ll need to borrow from to cover the down payment and closing costs. My monthly payment is $2,200, including taxes and insurance. No kids, no pets. Can I afford this?’
Of course, no one posts stuff like this. Only wealthy people are comfortable sharing their situations here.