Amount needed to buy an apartment: $300k

Current (liquid) net worth: $350k

After: $50k

Thoughts:
-I hope I'm not buying a lemon
-I need more money... a better paying job... this took me 6 years...
-I think I now know how my dad felt paying for private college; he should've just brought me an apartment instead...

-It's nice I found a job programming, CS was not my college major.
-I wish I studied CS? Then maybe I could've gotten into Google...

If it took you 6 years to save up more than enough to *buy* an apartment (as opposed to just the deposit for the mortgage) you're doing better than a lot of us.

@d4ng3r0u5 well it's not in exactly a nice area. That would cost $1 million or more...

Even with down payment... I'd probably end up in foreclosure...

Unfortunately I'm not married and doubt I'll ever will be... 😥😥😥

All those taxes and government policies work against people like me...

Mortgage... I just couldn't stand paying interest to banks....

Also why I needed to buy an apt... And hopefully the value goes up and not down...

When life gives you pickles, make gurketonic

@karma I thought you build a fast food chain?

@billgates nah amazon would be eager to buy me lol

Whoa, $300k? Where do you live? In my poor country (Poland) half of that is enough to buy 100m2 apartment or even a huge plot and build a house (or get plot with house already on it). But if you could save +$50k/year that already makes you way way richer comparing to my country's avg earnings of $12k/year (as I said "poor country").

@blem14 next to NYC... It gets me a small 1 bedroom apt...

@billgates wow... I would go there for money and come back to be a millionaire in any other cheaper city 😂 anyways good to know how expensive NYC is

@billgates why u up in NYC?

@blem14 but value is relative though.

If you live next to a lot of millionaires, your prolly gonna be very unhappy since prices will be sky high...

If everyone is relatively equal in income, you prolly have better communities than us?

**Ahem... looks at Trump and our good for nothing overpaid, lazy-ass, elitist politicians**

@karma because... that's where my parents got their job

@blem14 no NYC is way more expensive. Same apt, a few million at least...

Well good luck getting a job though in this economy....

All things aside, 6 years for enough money to buy an apartment, regardless of the size/location/whatever is insane to me... I would need to save up for at least 10 years to get any kind of apartment... And I spend next to nothing and have an ok salary. I've no idea how 6 years for an apartment can be considered low income regardless of everything...

@billgates if it comes for politicians - I guess every country has the same (our gov is a joke for whole Europe rn).

Not every country had such problems as our, communists and such, and for long time Poles were jealous how good life is in USA, UK or German. But as you say here, it is all relative, the more you earn the more they expect you to pay, but not many people are smart enough to figure that out.

You have to work 6 years for small apartmert, I'd have too, even though your_price = 4*my_price. It's just that is a shock for someone outside that your_price is X times of his.

@Bikonja well you are right that 6 years is good timing, but we only know that it is small apartment on outskirts of NYC, in not good neighbourhood - that is enough for me to assume what type of apt is that and that will be compareable time in my country.

Other thing is that at least here it is better to get credit for 15-20 years and buy better one.

I dont want to buy an apartment. Always be sure to have enough money for rent :)

with 36K USD i can pay rent for my apartment in the approximate 10 years.
So with roughly 360K USD i get 100 years of rent.
Hopefully then ill also have an extra 20K to buy a robo-nurse to take care of me.

@Bikonja ok my parents helped plug $70k but yes guess the difference is only a yr...

But still to see ur cash pile shrink that much sorry it hurts right?

@bioDan yes but then you'll always worry you get evicted and all your money kinda just vanished... But yes depends...

I think there's an economics problem about this Rent seeking I think it's called... It's how rich people get richer and everyone else gets poorer

NYC prices are crazy haha. One thing though, with mortgage rates where they are are right now, yes, you're paying money to a bank, but in reality you could be saving tens of thousands if not hundreds of thousands of dollars over renting, since renting is all cost and no equity.

@billgates oh no dount about it, that hurts really bad, but that's a different thing. Hey, at least you're getting an apartment, so you see at least a bit of improvement for that money loss

@dfox depends though. Renting = No property tax or management fees

I buy an apt and I still gotta pay rent... To the govt..... 😞

First world problems.