Seriously how do people afford buying a house?

amother

Pistachio

Mon, Jan 24 2022, 1:33 pm

amother [ Powderblue ] wrote:

FWIW, a gadol (not giving his name because I don't want to quote him without knowing if this was an individual psak or an overall opinion) told my parents before they bought their house that they should buy a house, even if it means not paying full tuition because of it.

So it may be worth rethinking your perspective, at least about the tuition. I can't answer about vacations. I'm with you on that one.

I think there is a diff between buying a smaller home and getting A tuition reduction and buying a mega mansion and getting a reduction.
Ppl are buying and building bigger and bigger and struggling. That I think is wrong.

amother

Feverfew

Mon, Jan 24 2022, 1:39 pm

amother [ Charcoal ] wrote:

Are people buying these large expensive houses paying full tuition? We pay full and have no money leftover for a house to fit our family size. Yet most people around us are living in houses close to double our size, with the same amount or more kids. They are not living frugally (my kids get to hear about all their vacations).
I would love to know if everyone who is buying a house is paying full tuition.

Some of them actually make good money (we have a lot of friends in real estate or law), some inherited/ were gifted a lot of money , and some are very in debt.

We bought a basic 3 bedroom house that was the top of our budget, well aware that it means that once we have a few more kids in school we won't be able to pay full tuition, but if we had to rent we probably also wouldn't be able to pay full tuition. (Here the choices are a small 2 bedroom apt or a full house for the same price as a mortgage)

And in case you want to yenta- we travel at least once a year internationally. My husband's grandmother pays for the tickets to come see his whole family.

amother

Charcoal

Mon, Jan 24 2022, 1:41 pm

Well a lot of the people I'm talking about are in chinuch, so I know for a fact that they are making less than us.
Our school won't let us get away with paying less than full. They know we make a lot and demand that we pay full. How did that gadol advise that family to go about it?
Would it help me to know? Yes, b/c I am curious and it will answer my question. I wouldn't wonder anymore how it's possible, as the question of this original post stated. I would know that answer and even if I felt resentment I could go about my business not wondering anymore. Otherwise, like the OP, I'm wondering if I'm missing out on some big chiddush to get a house to fit our family.

amother

Feverfew

Mon, Jan 24 2022, 1:49 pm

amother [ Charcoal ] wrote:

Chinuch may be the answer. I'm in chinuch. For me, full tuition is only half- it's one of our perks for working in the school. So if I'm in chinuch so school only asks half tuition, and my husband is making real money (which he's not, but iyH one day) then I end up very ahead of the game.

amother

Charcoal

Mon, Jan 24 2022, 2:04 pm

I misunderstood. You mean you're in chinuch but your husband is not.
So maybe it's worth it for me to become a preschool assistant? I would make much much less, but it sounds like it all evens out.
Is there any way to find this out? Obviously you can't apply for a job with the intention of asking for a large tuition break Smile

Also, does this apply to a break across the board? Or only in the school you are working in?
Sorry I'm kind of going off topic.

amother

Feverfew

Mon, Jan 24 2022, 2:19 pm

amother [ Charcoal ] wrote:

Also, does this apply to a break across the board? Or only in the school you are working in?
Sorry I'm kind of going off topic.

Yes, my husband is in a field that has large growth eventually, but pretty low starting salary.
Talk to the school about what their compensation package is- I definitely know people who work in school because of the tuition aspect . Many schools do it- worth asking

amother

DarkRed

Mon, Jan 24 2022, 2:47 pm

STovah wrote:

Not NYC taxes. If you live in NJ and work in NY, you will pay NY state taxes and get a credit for that on your NJ state return. If you live in NJ or Rockland/Nassau/Westchester/wherever county in NY and work in NYC, you will not pay NYC taxes.

Yes I worked in Brooklyn and lived oot at one point. I paid nys taxes but not nyc.

amother

Gladiolus

Mon, Jan 24 2022, 3:19 pm

We are a kollel family and bh own a house. Everyone assumes that our parents bought our house for us and people make comments to that effect. But nope, we didn't get any help from either side.
I got married a little bit older, so I worked for 5 years before marriage and I worked my tail off, doing multiple jobs while going to school and put away a lot of savings bh. And that was our down payment. The mortgage payments are from my salary.

GLUE

Mon, Jan 24 2022, 4:57 pm

amother [ Heather ] wrote:

According to the U.S. bureau of labor and statistics, houses prices in 2021 were a whopping 811.70% higher than they were in 1967. Meanwhile, when adjusted for inflation, the minimum wage increased by only... wait, no scratch that. When adjusted for inflation, it has decreased since 1967.

Gotta love a generation that cruised into a housing market more than 811% lower than today, with a comparatively higher minimum wage than people today, that has the narcissism to take all the credit for their "achievements" and the chutzpah to think that anyone could do what they did if they just worked hard enough.

I have no patience for this nonsense.

Do you read the YIMB(yes in my backyard)literature?

I remember one case they brought down-there was a group of people trying to get a multi family housing project approved in a neighborhood in San Francisco.

One of the people in the neighborhood who was against it stood up and said
When I was in collage I roomed with a few people, you are a bunch of brats who want everything handed to them on a silver platter. If you work hard you could afford a house in my neighborhood

One of the YIMB got up and said

She is 30 years old married with a child, When you were in this stage did you room in with a bunch of people?
She also pointed out that if you adjust his house with inflation it would cost only $350,000(the average price in the neighborhood was about 1 mil.)
Then she asked tell me would you be able to by a house in this neighborhood now?

He did not answer that question just keep complaining about this generation.