How long does it take to buy a million dollar house
in investment banking?
is it possible after 10 years in the industry?
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Hahaha how small do you want your down payment to be and what type of mortgage do you want to get.
yes. but a million dollars in greenwich is going to get you a house that you'd most likely want to tear down.
lol. obviously thats dependent on your situation during those 10yrs. do you save? do you spend? do you live with your parents? do you live in nyc is a nice apt? do you have a car? do you have a wife? did you go to grad school?
i'm not a banker, so i can't answer your question, but w/o your situation being defined thats a hard question to answer.
you can do it after 4 years. do analyst for 3, and associate for 1. I know plenty who do that.
are you kidding? to buy a $1m house, all you need is a $250k/year salary + some cash saved up beforehand for the downpayment. after 10 long years in the industry, a $1m house would NOT be considered some big-ticket item.
Yeah in Fairfield County a million dollar house is nothing special. It is the median price for a home.
In L.A..... in Newport Beach more specifically (my hometown) many of the homes come with guest houses that are worth over $1 million. The main homes are over $8 million.
$1 million is nothing special and you won't get anything for it in Orange County.
If you want to get a nice house in Orange County I would be looking to spend in the neighborhood of $5 million.
guyjer there is no way that the average home sale in Fairfield County would be $1 million.... That means on average everyone living in the county was making well into six-figures per year which can't be true.
It's possible. Remember that that is home sales - not renting. It might even exclude condos. And don't forget that there are dual-earner families.
Additionally, not everyone bought their homes when they cost $1m, there is a lot of old money in Fairfield County, etc.
Well I've been living in FC all my life. Yeah most of the homes hover in the million dollar ballpark simply becuase of the area. You can get home under that but that would be in shitty areas like Bridgeport or the towns closer to New Haven which is just a big shit hole.
Yes, if you know anything about real-estate, you would know location is clearly the number one factor in determining price.
Over here every other person is some entertainment executive or Hollywood actor making millions per year and buying a ridiculous house.
do you know the percentage of people in investment banking that have their own private jets?
Yeah and everybody here is working in investment banking, consulting, a corporate executive, hedgefund manager etc. OC is the the suburb for LA while FC is the suburb for NYC.
I pmed you about General Electric's FMP did you receive that pm?
o yeah i know about the program ill pm u back
show me where you CAN buy a house for less than 1 million lol...in Palo Alto...
What CAN you buy with $1mln in Manhattan? A bedroom?
I want a condo in Manhattan eventually, but too bad my dream condo's currently listed for $29 million.
We can say though, that on average the selling price of a home today is not $1 million on average for the entire Fairfield COunty. This may be true of certain towns as it is here in Orange County, but the average price for the whole county is not $1 million.
thats probably right
http://www.trulia.com/home_prices/Ohio/Fairfield_County-heat_map/
Not saying it is the most reliable source in the world, but it gives you an idea of the varying range of house prices within fairfield
I think they mean Fairfield County, CT. Not OH.
what wrong with palo alto!?!
$1M will get u a dinky piece of crap in palo alto. probably a really old one story house with 3 bedrooms.
one of our secretaries bought a $800,000 house on her own recently. and its really freaking small.
everythings just so expensive here that all the people in their 20s are just trying to stay above water. its impossible to own a home before the age of 30. and plenty of successful ppl in their 30s here (bankers, lawyers) have to settle for condos,which, for a nice one, are close to a million bucks here anyway.
Palo Alto is rediculous. My family nearly moved there and the price differences were absurd. I am from a suburb outside Boston and another thing that is frustrating with Palo Alto area houses is that very few have basements which takes a lot away from the house.
$1 Million gets you a shitty house in nice areas in NY and NJ. You should be able to afford a $2 to $4 million house after 10 years in banking. And yes Faifield County's median real estate price is $1 million. I know for a fact coz my mother works in realstate in NYC.
why is everyone so focused on fairfield? what about west chester and nassau? there's tons of money there too
Research the towns of Greenwich, Darien, New Canaan, Westport, Weston and Fairfield. These are all located in Fairfield County, CT and are home to many Wall Street gods (ie. CEOs of Bulge Brackets including Sandy Weill of Citigroup and Brady Dougan of Credit Suisse in Greenwich and many other top execs. from Lehman, JPM etc....
It is one of the wealthiest, if not the wealthiest county in the United States.
what about locust valley long island?
long island is full of upper-middle class jewish american princesses.
Every single word you type outdoes the last for uselessness. Go post your WT racist crap on a Klan board.
I live in London and I'm hoping for 2 million pound (4 million US) in 10 years at the LEAST.
Orange County average price (couldn't find median data) was $430K in 2003
http://www.scag.ca.gov/publications/pdf/2004/SOTR04_Housing.pdf
interesting tid bit, only about 30% own in Orange County.
Hard data on fairfield county is not coming up quickly in Google...but here is an iteresting website that would put the median somewhere between 200K and 300K.
http://www.nationalrelocation.com/real-estate/Connecticut/Fairfield%20C…
I would think it was higher than that...
Here is a realtor who put the median for 2006 list prices at 385K, median selling price at $375K with the averages around $520K
Oops...here is the realtor's website
http://yourfairfieldcountyhomes.blogspot.com/
fuck, in chelsea in london the avg price is now like 1 million pounds.
what about a nice house 7,000,000+ in Westchester County
Orange county isnt TOOOO bad. I'd say 600,000 to 800,000 for a bare bones place to live. 2-3 million for a house that you actually want to invite people over to.
The question is irrelevant because the price of housing is a constantly moving target.
What I suspect that you really mean is how long before you can afford a really nice house.
Look at the percentile of a house that you want in relation to the area that it's in re size, features, location, etc (very subjective but it's better than nothing).
Then look at your personal income percentile. If the latter is lower than the former then you're likely to get it.
I would really love to have a 3mm+ house in westchester
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