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Old 02-10-2016, 01:22 PM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,938 posts, read 36,724,941 times
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Quote:
Originally Posted by bigfatdude View Post
As far as Davis goes a hipster living paycheck to paycheck and slumming it up with three roommates in a triple-decker that hasn't seen any renovations since the 1960s sounds plausible, assuming he has a rich daddy who will leave him a nice chunky inheritance when he keels over. But if there's no rich daddy in the picture, you're pretty much screwed since your rent/utilities will eat up a big chunk of your paycheck and there won't be anything left to save for retirement.

Wrong on all accounts, I'm thinking 30 and 40 something professionals on their own. But keep trying.
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Old 02-10-2016, 01:26 PM
 
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Quote:
Originally Posted by timberline742 View Post
Wrong on all accounts, I'm thinking 30 and 40 something professionals on their own. But keep trying.


if they are renting, he is partially right.
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Old 02-10-2016, 01:53 PM
 
1,296 posts, read 1,052,403 times
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Quote:
Originally Posted by timberline742 View Post
Wrong on all accounts, I'm thinking 30 and 40 something professionals on their own. But keep trying.
Living on their own in Davis while making under 60k? Would you please enlighten us all as to how one can afford to live on ~$3,000/month take-home pay and save enough for retirement while spending at least $1,800 on rent? And I mean real life market rate rent, we do not want to hear about all those "friend/relative/etc" $1000/month apartments that are completely unrealistic for anyone but that particular person.

And, more importantly, all those 40 year olds - what's their current net worth, and how are they planning to retire assuming they're not expecting a seven figure inheritance?
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Old 02-10-2016, 02:01 PM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,938 posts, read 36,724,941 times
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Quote:
Originally Posted by bigfatdude View Post
Living on their own in Davis while making under 60k? Would you please enlighten us all as to how one can afford to live on ~$3,000/month take-home pay and save enough for retirement while spending at least $1,800 on rent? And I mean real life market rate rent, we do not want to hear about all those "friend/relative/etc" $1000/month apartments that are completely unrealistic for anyone but that particular person.

And, more importantly, all those 40 year olds - what's their current net worth, and how are they planning to retire assuming they're not expecting a seven figure inheritance?

I never said they were living alone, did I? I said they were on their own, i.e. not depending on others. Lots of 30 and 40 somethings have roommates. Newsflash: Lots of people like living with roommates/friends/their community. Not I particularly, but I know quite a few people that do.

I have no idea of anyone's net worth. Not my business. Lots of people don't retire, and many don't want to. Shoot, my mother could retire, she has the money, she doesn't want to, she's 77 and works well more than half time. Some have pensions (esp those in academia or government work). Others are in the creative fields. You're only looking at the world from one way of living.

My apartment, while not in Davis, it's 10 min from Union is $1100 (1 bedroom), and I know plenty of people that have as good or better deals than I do. Market rates are for people that don't want to put the work in. I don't know a single person living alone on otherwise paying anything like $1800 for rent, not even a advocacy lawyer friend who has an entire floor (2 bedroom) of a triple decker between Davis and Porter. People really over-exaggerate what one needs to live well here.
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Old 02-10-2016, 02:14 PM
 
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Chances are those who have amazing deals have been living in the same unit for at least five years, if not more, and haven't had their rents raised - there's absolutely no way in hell you're going to find a one bedroom apartment anywhere in Boston/Brookline/Camberville area for $1500, let alone $1100. I mean, I can say the same thing - I only paid $170K for my condo five years ago, why is everyone complaining about housing being so expensive?
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Old 02-10-2016, 02:17 PM
 
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Quote:
Originally Posted by timberline742
people really over-exaggerate what one needs to live well here.

Depends on standard of living.


For example, I could never live with a roommate, and had never lived with one until moving in with my G/F at age 35.


So for me, to afford to live 100% roommate free, while paying all my bills, owning a car, saving money for a house, and saving for retirement, there was a set number that I felt I needed to make in order to achieve that.


It's going to be different for everyone as not everyone wants to live like me, and I don't want to live like some others, but I know if I were to look at a different area to live in, I'd know what my standard of living would be and try to get a rough idea on what it might take to achieve that.
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Old 02-10-2016, 02:18 PM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,938 posts, read 36,724,941 times
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Quote:
Originally Posted by bigfatdude View Post
Chances are those who have amazing deals have been living in the same unit for at least five years, if not more, and haven't had their rents raised - there's absolutely no way in hell you're going to find a one bedroom apartment anywhere in Boston/Brookline/Camberville area for $1500, let alone $1100. I mean, I can say the same thing - I only paid $170K for my condo five years ago, why is everyone complaining about housing being so expensive?

Moved one of my best friends into a lovely, hardwood floor, heat included, beautiful building on the hill just above Union Square Somerville last winter. $1200. Found on craigslist. It's the Hood building (was in the family of a Hood dairy person, very nice). Largest one bedroom I've seen, has to be in the 700-800 sq feet range.

Know two others who have moved in Somerville over the last year, nice one bedrooms, full kitchens, without utilities included for about the same amount, one near Magoun, one off Highland between the high school and Davis Sq.

You're just full of it.

True, I've been in my place now starting on 4 years, and it has gone up to $1100. But plenty of people do find better or as good as deals as I have in the past year.
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Old 02-10-2016, 02:31 PM
 
Location: RI, MA, VT, WI, IL, CA, IN (that one sucked), KY
41,938 posts, read 36,724,941 times
Reputation: 40634
Quote:
Originally Posted by BostonMike7 View Post
Depends on standard of living.


For example, I could never live with a roommate, and had never lived with one until moving in with my G/F at age 35.


So for me, to afford to live 100% roommate free, while paying all my bills, owning a car, saving money for a house, and saving for retirement, there was a set number that I felt I needed to make in order to achieve that.


It's going to be different for everyone as not everyone wants to live like me, and I don't want to live like some others, but I know if I were to look at a different area to live in, I'd know what my standard of living would be and try to get a rough idea on what it might take to achieve that.

Sure, that's critical. Knowing what you want. I'm just saying people need to be aware that we all don't want the same thing. Not everyone aspires to retire. Or own there own place. Or live alone (LOTS of people hate that). So there is no one answer.
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Old 02-10-2016, 02:34 PM
 
Location: Cleveland and Columbus OH
11,046 posts, read 12,320,583 times
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Quote:
Originally Posted by timberline742 View Post
Sure, that's critical. Knowing what you want. I'm just saying people need to be aware that we all don't want the same thing. Not everyone aspires to retire. Or own there own place. Or live alone (LOTS of people hate that). So there is no one answer.
Some people might also think they could never live with others, could never not own a car, etc but probably should at least try. Might find that they don't mind it. And it's TOTALLY worth having a roommate or two to save $500 / month. Think of the yearly savings.
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Old 02-10-2016, 02:41 PM
 
15,692 posts, read 20,198,574 times
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Quote:
Originally Posted by bjimmy24 View Post
And it's TOTALLY worth having a roommate or two to save $500 / month. Think of the yearly savings.

I'd gladly pay $500 more a month to not have to deal with a roommate (that I'm not in a relationship with). It's just how I am. I love my space.
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