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I am a 37M living in the DC suburbs. Father of 2 young teenagers with a fiancé. The last 3 years I’ve been pursuing home ownership and it feels like defeat after defeat.
Between my 2 jobs I make just under 90k a year. I have about 20k in debt between cards and my car payment. I’ve been reducing debt and closing off cards, but I’m clearly having to make up for years of bad financial decisions. I’ve sold my second car and picked up a second part time job to help this process.
I’ve held off on 401k donations for about 3 years. I have nothing saved for my kids college. Both of these things make me feel equally scared and guilty.
I nearly closed on houses 3 times in 2021 and 2022. I put my stimulus money towards home inspections, saving down payments, etc. 1 house I was outbid by a cash buyer the other deals collapsed due to USDA and FHA inspection standards.
At this point despite tightening the belt and working 2 jobs, home ownership and supporting my kids futures seem unobtainable. If anyone has advice or guidance, I’ll take it. Meanwhile, I am completely lost.
Does your fiancé work? I am nearly a decade older than you and am in only a slightly better partition, in that I have the house (which I can barely afford). As shitty as it is, I think the reality of today is that for the majority of Americans, the only way to thrive is to be part of a two-income household.
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- 11 months ago
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Because I’m sure you have the same hope I do; that if enough of us are in this boat and we become a vocal majority or we drop significantly out of the market economy enough so that it hurts the big guy, our voices will be heard, and our needs will be addressed with change. Fortunately, it happens, it has happened all through history. Unfortunately, it usually takes a really long time.