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   Adrianna Tan (skinnylatte@hachyderm.io)'s status on Monday, 10-Mar-2025 08:38:15 JST Adrianna Tan

   I lurk in a lot of personal finance communities and I always feel so worried when I see people in tech about my age who seem to believe that the party will go on forever (or even for the next 12 months) and who make home purchases like their RSUs are worth shit

   • Embed this notice
     Adrianna Tan (skinnylatte@hachyderm.io)'s status on Monday, 10-Mar-2025 08:39:11 JST Adrianna Tan

     in reply to

     I don’t make enough money to even consider ever buying a $2M home but it seems very dangerous to even consider buying a $2M if you have to work for a salary, even if it is a very high salary

   • Embed this notice
     Adrianna Tan (skinnylatte@hachyderm.io)'s status on Monday, 10-Mar-2025 08:40:45 JST Adrianna Tan

     in reply to

     • Jeremy Kahn

     @trochee I feel terrified just reading about people doing that!

   • Embed this notice
     Jeremy Kahn (trochee@dair-community.social)'s status on Monday, 10-Mar-2025 08:40:47 JST Jeremy Kahn

     in reply to

     @skinnylatte sell and diversify, kids.

     You're already betting long on $company by working there; holding the stock too is really keeping too many eggs in one basket

   • Embed this notice
     Adrianna Tan (skinnylatte@hachyderm.io)'s status on Monday, 10-Mar-2025 08:46:37 JST Adrianna Tan

     in reply to

     • Robot Diver

     @RobotDiver I think it still made sense up till 2+ years ago? A $3000 rental is a $7500 mortgage here in sf now so that flips things a lot

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     Robot Diver (robotdiver@starlite.rodeo)'s status on Monday, 10-Mar-2025 08:46:38 JST Robot Diver

     in reply to

     @skinnylatte

     Yeah, we had to where we are, but it was only because the rental market is so brutal here we would be paying twice what our mortgage is to rent a similar place which we definitely couldn't afford. Still a serious gamble, but our numbers aren't quite as brutal as SF.

   • Embed this notice
     Adrianna Tan (skinnylatte@hachyderm.io)'s status on Monday, 10-Mar-2025 08:47:40 JST Adrianna Tan

     in reply to

     • Jeremy Kahn

     @trochee or all cash!! Haha way too many of them.

     I’m mostly of the opinion that if one loses a big tech job in this timeline and age, there likely isn’t another one that pays as much for all but the most privileged. So it all just feels so fraught

   • Embed this notice
     Jeremy Kahn (trochee@dair-community.social)'s status on Monday, 10-Mar-2025 08:47:41 JST Jeremy Kahn

     in reply to

     @skinnylatte the only way I see it is if you've already been earning enough to put down 70% up front

   • Embed this notice
     Adrianna Tan (skinnylatte@hachyderm.io)'s status on Monday, 10-Mar-2025 08:58:26 JST Adrianna Tan

     in reply to

     • Veronica 🤷‍♀️

     @v_claire I’m only looking coz personal finance is my autistic interest, and it’s so fascinating to me to study decisions that people make around money

   • Embed this notice
     Veronica 🤷‍♀️ (v_claire@sauropods.win)'s status on Monday, 10-Mar-2025 08:58:27 JST Veronica 🤷‍♀️

     in reply to

     @skinnylatte I don't pay much attention to what others are doing. I've never had a second or third mortgage either, and have been thankful.

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     Jonathan Yu (jawnsy@mastodon.social)'s status on Monday, 10-Mar-2025 09:02:46 JST Jonathan Yu

     in reply to

     • Jeremy Kahn

     @skinnylatte @trochee For an all-cash transaction, what proportion of your liquid net worth would be okay? Like, if you have $2M in savings and liquid investments, buying a house for $2M seems like a big risk as you lose diversification.

     If there's a downturn in Bay Area tech, you'd both lose your job and the equity in your home - is that an acceptable risk for most people?

   • Embed this notice
     Adrianna Tan (skinnylatte@hachyderm.io)'s status on Monday, 10-Mar-2025 09:02:46 JST Adrianna Tan

     in reply to

     • Jeremy Kahn
     • Jonathan Yu

     @jawnsy @trochee yeah that’s hard to say.

     There are also so many extra costs with closing / maintaining a home.

     If you haven’t already found this, check out bogleheads.org wiki and community. I think they have the most sensible takes on finance and have a lot of diff scenarios. Lots of people who have also lived through past busts so I feel like I learn a lot

     Generally they would say to not be house poor, and to have a certain amount of money growing in low index funds, and best methods for withdrawal in bad years to keep going.

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     Adrianna Tan (skinnylatte@hachyderm.io)'s status on Monday, 10-Mar-2025 09:41:32 JST Adrianna Tan

     in reply to

     • Veronica 🤷‍♀️

     @v_claire it feels impossible to even think about property ownership where I am with it also having a high level of understanding of finance. I guess I could fix that by buying somewhere cheaper, but I’d rather go back to Asia (and even then where I might want to buy there is the same price as SF).

   • Embed this notice
     Veronica 🤷‍♀️ (v_claire@sauropods.win)'s status on Monday, 10-Mar-2025 09:41:33 JST Veronica 🤷‍♀️

     in reply to

     @skinnylatte I used to be interested; we may share something there - I used to be really interested in PE ratios and the S&P and even reading the WSJ for years.
     The house I own now is nowhere near $2M. But it's something we can keep up, and have a nice life. Our needs are simple.

   • Embed this notice
     Rich Felker (dalias@hachyderm.io)'s status on Monday, 10-Mar-2025 10:33:01 JST Rich Felker

     in reply to

     @skinnylatte You don't buy anything for $2M in this world unless you have $2M cash on hand or you're fucking oblivious.