<p>If I buy, that’s because I want a nice place and refuse to pay rent for it. I’m not buying a ****ty studio. $750k with 20% down is a $600k mortgage. With no students loans and a biglaw job, one can easily save $250k for a down payment within 3 or so years (probably even more), if one lives frugally. At 6% the payments are somewhere in the range of $3k plus tax and insurance. Which comes out to maybe $4k. Most banks allow up to 45% debt service ratio. I think I can manage just fine on $120k net of tax, whatever that happens to be in pretax terms.</p>
<p>And who says I’m buying a house in my 20s? I’m looking at around when I turn 30, plus or minus six months. And unlike bluechip stocks, that can become toilet paper overnight, houses in established neighborhoods hold their value in the long run. They don’t lose 98% of their value overnight.</p>
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<p>Since that amounts to saving around 50% of your gross income (which is extremely high), it’s certainly not possible for somebody spending $500 a month on groceries alone.</p>
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<p>When did anyone suggest you should put all of your money in the stock of a single company? Are you aware that houses can lose value, or not appreciate very much? It’s OK if you aren’t; some people who used to rate mortgage-backed securities for a living didn’t realize this, either.</p>
<p>futurenyustudent, i’d just stop posting if i were you. Read about the housing bust.</p>
<p>i think you should go whether its T14 or not, you will more than likely be able to find a job in whatever city the law school is. or just go to school in the big legal markets, like houston texas, you probably could get into the University of Houston school of law, their ranked 50 something</p>