5 ms·

I make an amount of money that I could not have ever imagined making growing up. Multiples of what I thought my best case would be. I save almost every penny of

by anm89 5y ago

I make an amount of money that I could not have ever imagined making growing up. Multiples of what I thought my best case would be. I save almost every penny of that that doesn't go into housing or food. Over 70% marginal savings after tax. I'm still struggling to find a house in Washington that I like that I can afford. It's fine for me, I'll be able make it work after saving a bit but it definitely made me realize how screwed the average person is. It's an impossible task if you don't already have hundreds of thousands saved and well into a six figure salary.

coward123 5y ago
You've got to realize that the Puget Sound region is an absolute outlier in every way, the perfect storm of restrictive geography with a high concentration of very successful companies. The only options are: -- Reach a point in your career where you have the money to play the game. -- Move farther and farther out from Seattle, somehow finding a way to put up with the commute. -- Go full on remote. There are puddle jumper flights to lots of small towns in eastern Washington. You could buy a place here for half (or less) the cost of Seattle, hop a plane when needed (shorter flight than your Puget Sound commute), and otherwise work remotely. Not an option for everyone, I know, but for some it could be a real win (It worked for me when I decided Seattle was too expensive 12 years ago)
- anm89 5y ago
  Sort of, but I was living in Asheville NC before this. It was absolutely much less expensive but it was still becoming legitimately expensive. No shortage of 1 and 2 million dollar houses. And that's Appalachia. I had looked at a farmhouse for sale. Bought for $250k in 2019. Probably spent $200k on a rehab. Selling for 1.4 million. So yeah, I do acknowledge that I'm choosing an expensive area but it doesn't feel like that's the core of the issue.
algebra-pretext 5y ago
It’s been interesting from a middle-class seller’s side as well. Most people planning to sell in the Puget Sound area can only afford to downsize to a much, much smaller home after paying off their mortgage.

by anm89 5y ago

coward123 5y ago

You've got to realize that the Puget Sound region is an absolute outlier in every way, the perfect storm of restrictive geography with a high concentration of very successful companies. The only options are: -- Reach a point in your career where you have the money to play the game. -- Move farther and farther out from Seattle, somehow finding a way to put up with the commute. -- Go full on remote. There are puddle jumper flights to lots of small towns in eastern Washington. You could buy a place here for half (or less) the cost of Seattle, hop a plane when needed (shorter flight than your Puget Sound commute), and otherwise work remotely. Not an option for everyone, I know, but for some it could be a real win (It worked for me when I decided Seattle was too expensive 12 years ago)

anm89 5y ago
Sort of, but I was living in Asheville NC before this. It was absolutely much less expensive but it was still becoming legitimately expensive. No shortage of 1 and 2 million dollar houses. And that's Appalachia. I had looked at a farmhouse for sale. Bought for $250k in 2019. Probably spent $200k on a rehab. Selling for 1.4 million. So yeah, I do acknowledge that I'm choosing an expensive area but it doesn't feel like that's the core of the issue.

algebra-pretext 5y ago

It’s been interesting from a middle-class seller’s side as well. Most people planning to sell in the Puget Sound area can only afford to downsize to a much, much smaller home after paying off their mortgage.