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Comment by tredre3 | Hacker News Reader

The 10MM figure might be a falsehood, but I think that you're falling for the same thing previous generations have fallen for: Assume that because it worked out for you, it will work out the same for the current generation.

I'm not sure that it's an accurate view of reality this time. And to be clear I'm older than you, so this isn't me being a doomer and throwing my hands in the air about my own future. This is me noticing that if I myself can't afford a house in my city, how is the younger generation supposed to do it? They simply can't, not after only 5yrs of savings at least. Not even if they cut down on avocado toasts.

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Leading up to me buying my home, the narrative was about how expensive houses are - especially in my city (Seattle).

But now on the other side, I got so lucky to buy one when I did (2020) due to interest rates.

Savvy also comes into play. The most affordable decent Seattle houses then were like $750k for sub-2k sqft well outside the main parts of the city. But Tacoma had 3k sqft houses for under $600k. 45ish minute reverse commute to Seattle bustling-est neighborhoods for evening fun. When we discovered this we pulled the trigger and it was the best financial decision we ever made along with going to college.

I agree it's a shame that owning in the biggest city (especially the nice parts) is hugely expensive.

> 45ish minute reverse commute to Seattle bustling-est neighborhoods for evening fun

What is a "reverse commute"? Is that just going into the city at the opposite time of day from normal work?

Also, 45 minutes one day (1.5hr total) is a rather large chunk of the evening to spend in transit for "evening fun."

> I got so lucky to buy one when I did (2020) due to interest rates.

It's funny, I remember thinking that people buying in 2020 were nuts because none of us knew what the economy was going to do, and it turns out that those who did buy came out ahead. I cite this among friends as one of the many ways in which I feel like being cautious with money has been the wrong choice (e.g. maintain 6mo-12mo emergency fund, don't make large purchases in periods of uncertainty, etc).

45 minutes both ways to the city is just what being in the suburbs is like. I grew up outside Chicago, and that's how long it'd take to go into the city and see a game or show or museum or whatever. Usually I'm spending 6+ hours in the city (we catch an early dinner at 4 or 5 and then head back after our event at 10 or 11) so it feels worth it to me.

And yeah, that's what reverse commute means. Seattle traffic is awful if you're going where everyone else is, but Tacoma to Seattle in the evening is not busy at all.

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