Absolutely.

What's the takeaway from this?

Putting down a huge down payment (like close to 50 percent) is the only way buying a $600k+ home on $110k household income makes any mathematical sense. A lot of people who do this tap into family weath or an inheritance for the down payment.

>Most regular households earning $100k with kids have a shitty commute and live at least 40 minutes away by car.

What's wild is they end up paying a second mortgage on a soul crushing 4+ hour commute instead. I calculated the cost at commuting into Boston from 50 miles outside the city at around $2,000 a month.

Hey I feel safer up here in the northeast than I do in the south in the future… weather might be perfect here for years to come!!

You wanted to know if you'd get in trouble? It sounds like you'd have gotten a knife in your belly

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All very true, however, it looks like this post is specific to millennials so, retirees and teachers with 20 years of experience arent really relevant (although getting close).

x 10 for your point on family wealth. Lately, I feel like that is almost always the missing piece to my "how are people affording this?" confusion

I had it wrong in how it works, and TheSkiGeek is right. It's an federal program that my wife employer has opted in. Works like an FSA. It's at least worth checking if its available, and if not ask for it to be.

Sarcasm aside, ever little bit does help, and I'll take anything I can find.

https://dpath.com/dependent-care-account-is-it-right-for-you/#:~:text=Annual%20contribution%20limits,of%20your%20paycheck%20before%20taxes.

don't kink shame bro

Unlike adults,minor's have no legal right to be missing,legally if you are under 18 you're a ward of your legal guardian usually the parents.

Go to Vic's waffle house. Ignore nearly everything else. You'll have a blast there.

But yeah it's pricy af for how nice it is.

Their website claims they are non therapeutic but of coarse we know for sure websites always tell the truth,right LOL

My wife and I make right around that, a little bit higher, and moved out to the Berkshires. Got a nice house for a great price. We both work remote, so it really doesn't matter where we are. We're very very lucky to have that luxury.

Can we stop spouting this incorrect information? It was proven to be from the dust in Oklahoma, nothing to do with acid rain or the train derailment.

Administrators, of-course, in many school districts have advocated for larger budgets for years and haven't gotten it. Cities and towns often vote no on the necessary budgets to run these schools. These reserve funds you speak of are paltry compared to what is really needed. Now what? It's easy to make mandates, but no one wants to fund them.

It wasn’t even supposed to snow today, forecast had it 46 and sunny

I checked their website and they have relgious camps but (at least they don't say so) but no mention of it being a therapeutic camp just a regular Christian camp.

https://retreatatnorwichlake.com/

​

They had a secular therapeutic bording school in Plainfield/Cummington (campus was on the line) They had reports camping trips where bone fractures and snake bites were not given proper treatment and finally a death shut them down.Now thew campus is an upscale substance rehab for adults.

Funky shit can happen at therapeutic childrens camps.

I make $95K and I'm able to buy a SFH in New Bedford or west of Worcester. If I want to be "closer" to Boston I can just barely afford a basic 1br condo in Lowell.

tl;dr Shit's fucked.

My wife and I were not much higher than that when we bought in the suburbs in 2016. Prices were 50-60% of what they are now

One thing to keep in mind is that salary progression for different folks change at VERY different rates.

A teacher who has two decades of experience in Boston who is close to maxing out their top end pay at $105k (and about to maybe get replaced by a cheaper younger person) is very different from a 30-year old who just got out of grad school and their first job is paying $105k with potential to double that salary in three years.

They will be looking at very different types of houses.

And also…elephant in the room is family wealth and assets that barely show up on your income statement. I know lots of folks who are early retirees and only make $50k per year in dividends. But they have $5-$10m in assets and own their home outright.

Boston also has lots of international money and wealthy parents buying condos (for kids who are students or just to park money as a cash alternative). Seaport is rife with empty condos sold to globally wealthy folks. Same for One Dalton.

Boston is a weird city like that.

Most regular households earning $100k with kids have a shitty commute and live at least 40 minutes away by car.

It's criminal.

It's well known at resorts but that's it. The majority of business owners out of the cape don't really know about it like in construction for example. You can hire ppl with experience and everything. Not limited to kids from Europe just looking to have fun on their school break

NACA is the best program for FTHB but the process is very long... If you don't mind the year long process then go through this program but If you want to be ready to buy this summer then it can be tough.

It looks like OP posted an AMP link. These should load faster, but AMP is controversial because of concerns over privacy and the Open Web.

Maybe check out the canonical page instead: https://www.boston.com/real-estate/real-estate-news/2022/08/02/boston-area-attracts-relocating-millennials/

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