Why is $275k hhi now so poor?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, show us your expenses and we’ll tell you how to live like a king. Clean your own house, cut your own lawn, stop streaming multiple services, stop it with the daily Starbucks. Bring your lunch.

What kind of car do you drive? Do you vape? Are you getting a new phone every year?

Stop keeping up with the Jones’s.

Do you believe that having a cleaning lady, lawn service, streaming and ability to spend $20 bucks daily on lunch/coffee signifies luxury extravagant lifestyle if one works full time in a professional job? It's funny you think this is extravagant and get mad at DINKs in professional jobs (IMO they should be easily able to afford these things) but there is no questioning of the sky-is-the-limit accumulation of wealth by the 0.1% who cannot even invent ways to spend their vast fortunes and buy enough luxuries you cannot even fathom. The trickle down from the uber rich class is only in form of charity and based on their personal values and opinions.

Good peasant, be happy things we used to take for granted in middle class upper layers are going extinct and we will be sifted into rich and poor happy to work most of their time and take on education debt just to pay for basic life not being able to afford a cup of coffee, happy hour drinks or a movie ticket.

How many middle class families had cleaning ladies when you were growing up?

Didn't know any. That's the thing. What most of us grew up with as MC did not involve McMansions, cleaning ladies, lawn service, etc. We were our parents cleaning service and lawn service on Saturdays. We lived in a 3 bed 1.5 if lucky 2.5 bath home. And we ate out once every 2 weeks at a "cheap" place.

We didn't uber eats, dine out 3-4 nights per week, etc.

I think the point of OPs post is that they expected to live UMC life, not MC on this money because at some point it did used to buy you UMC lifestyle. You earn professional salary and you should be able to afford to outsource a few things to get some time off on weekends away from chores to get some social time with peers at happy hour, go to a few dinners and grow connections to lead to better jobs, etc. It meant you had some disposable income (to dine a few times, to travel on the budget, to buy a few nice things like electronics, furniture and car that are not beat up, clothes that aren't all from deeply discounted or thrift stores, etc. It's not an extravagant life. But it does require something is left after you paid your bills and put your retirement portion away.

And for someone making $275K, even in DCUMland, there SHOULD be something left for use as disposable income for outsourcing. However, if you have two 900/month car payments, that is where some of your "disposable" income has gone. Choices are key because yes at 275K you are not getting "everything you want as extras" Or they have a mortgage at the upper limits for their salary. They can choose as DINKS to live in a condo or townhome, and then much of that is already "outsourced" and mortgage would be much lower. But if they "need a 3K home that is less than 5 years old" then that is also a choice for where to direct "disposable income"

PP here, and I fully agree. If this is what they are doing then they are just spending their disposable income on monthlies that are indicative of higher levels of luxury that usually requires higher income or some assets kicking back some returns. A new house alone will set you back to have to work just to afford to live there, but having a nice professional DINK lifestyle doesn't buy you a "next step upgrade" home. Even if you are UMC your starter home is much more modest and not new construction mcMansion in a premium area. That's what you hope to upgrade to years later if all goes well and you don't spend your disposable income on other niceties or investments you appreciate more.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, show us your expenses and we’ll tell you how to live like a king. Clean your own house, cut your own lawn, stop streaming multiple services, stop it with the daily Starbucks. Bring your lunch.

What kind of car do you drive? Do you vape? Are you getting a new phone every year?

Stop keeping up with the Jones’s.

Do you believe that having a cleaning lady, lawn service, streaming and ability to spend $20 bucks daily on lunch/coffee signifies luxury extravagant lifestyle if one works full time in a professional job? It's funny you think this is extravagant and get mad at DINKs in professional jobs (IMO they should be easily able to afford these things) but there is no questioning of the sky-is-the-limit accumulation of wealth by the 0.1% who cannot even invent ways to spend their vast fortunes and buy enough luxuries you cannot even fathom. The trickle down from the uber rich class is only in form of charity and based on their personal values and opinions.

Good peasant, be happy things we used to take for granted in middle class upper layers are going extinct and we will be sifted into rich and poor happy to work most of their time and take on education debt just to pay for basic life not being able to afford a cup of coffee, happy hour drinks or a movie ticket.

How many middle class families had cleaning ladies when you were growing up?

Didn't know any. That's the thing. What most of us grew up with as MC did not involve McMansions, cleaning ladies, lawn service, etc. We were our parents cleaning service and lawn service on Saturdays. We lived in a 3 bed 1.5 if lucky 2.5 bath home. And we ate out once every 2 weeks at a "cheap" place.

We didn't uber eats, dine out 3-4 nights per week, etc.

I think the point of OPs post is that they expected to live UMC life, not MC on this money because at some point it did used to buy you UMC lifestyle. You earn professional salary and you should be able to afford to outsource a few things to get some time off on weekends away from chores to get some social time with peers at happy hour, go to a few dinners and grow connections to lead to better jobs, etc. It meant you had some disposable income (to dine a few times, to travel on the budget, to buy a few nice things like electronics, furniture and car that are not beat up, clothes that aren't all from deeply discounted or thrift stores, etc. It's not an extravagant life. But it does require something is left after you paid your bills and put your retirement portion away.

OP is UMC, but lower/starting UMC. Upper class probably starts around 1M+ salary, so they're far from being able to be extravagant.

They are lower rung of UMC given they are DINKs, but they are saying that they have a very MC life and unable to afford luxuries like a European car (even entry level) or a 1+ mil home or frequent vacations. All of this they associate with UMC lifestyle, I'd say, I agree because who else is doing all this (many around us seem to be doing vacations, having luxury cars, etc)? I seriously doubt all the people driving luxury cars or living in newer homes make 1m yearly or have many millions kicking off passive income. Maybe I am just delusional to the level of wealth? Maybe OP is more frugal and they save more and feel like not much is left or they allow themselves to spend while others rake in more debt?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, show us your expenses and we’ll tell you how to live like a king. Clean your own house, cut your own lawn, stop streaming multiple services, stop it with the daily Starbucks. Bring your lunch.

What kind of car do you drive? Do you vape? Are you getting a new phone every year?

Stop keeping up with the Jones’s.

Do you believe that having a cleaning lady, lawn service, streaming and ability to spend $20 bucks daily on lunch/coffee signifies luxury extravagant lifestyle if one works full time in a professional job? It's funny you think this is extravagant and get mad at DINKs in professional jobs (IMO they should be easily able to afford these things) but there is no questioning of the sky-is-the-limit accumulation of wealth by the 0.1% who cannot even invent ways to spend their vast fortunes and buy enough luxuries you cannot even fathom. The trickle down from the uber rich class is only in form of charity and based on their personal values and opinions.

Good peasant, be happy things we used to take for granted in middle class upper layers are going extinct and we will be sifted into rich and poor happy to work most of their time and take on education debt just to pay for basic life not being able to afford a cup of coffee, happy hour drinks or a movie ticket.

How many middle class families had cleaning ladies when you were growing up?

Didn't know any. That's the thing. What most of us grew up with as MC did not involve McMansions, cleaning ladies, lawn service, etc. We were our parents cleaning service and lawn service on Saturdays. We lived in a 3 bed 1.5 if lucky 2.5 bath home. And we ate out once every 2 weeks at a "cheap" place.

We didn't uber eats, dine out 3-4 nights per week, etc.

I think the point of OPs post is that they expected to live UMC life, not MC on this money because at some point it did used to buy you UMC lifestyle. You earn professional salary and you should be able to afford to outsource a few things to get some time off on weekends away from chores to get some social time with peers at happy hour, go to a few dinners and grow connections to lead to better jobs, etc. It meant you had some disposable income (to dine a few times, to travel on the budget, to buy a few nice things like electronics, furniture and car that are not beat up, clothes that aren't all from deeply discounted or thrift stores, etc. It's not an extravagant life. But it does require something is left after you paid your bills and put your retirement portion away.

And for someone making $275K, even in DCUMland, there SHOULD be something left for use as disposable income for outsourcing. However, if you have two 900/month car payments, that is where some of your "disposable" income has gone. Choices are key because yes at 275K you are not getting "everything you want as extras" Or they have a mortgage at the upper limits for their salary. They can choose as DINKS to live in a condo or townhome, and then much of that is already "outsourced" and mortgage would be much lower. But if they "need a 3K home that is less than 5 years old" then that is also a choice for where to direct "disposable income"

If you read the very first OP you will see that this isn't their situation. Their housing is moderately priced for the area and they agonize over buying a new car as well as going on more than 1-2 vacations per year. IDK where they are spending their disposable income, but it's not where you think. Maybe their vacations are extravagant or maybe they are just saving/investing and making sure certain amount of their left over is going to go to good use in the future.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, show us your expenses and we’ll tell you how to live like a king. Clean your own house, cut your own lawn, stop streaming multiple services, stop it with the daily Starbucks. Bring your lunch.

What kind of car do you drive? Do you vape? Are you getting a new phone every year?

Stop keeping up with the Jones’s.

Do you believe that having a cleaning lady, lawn service, streaming and ability to spend $20 bucks daily on lunch/coffee signifies luxury extravagant lifestyle if one works full time in a professional job? It's funny you think this is extravagant and get mad at DINKs in professional jobs (IMO they should be easily able to afford these things) but there is no questioning of the sky-is-the-limit accumulation of wealth by the 0.1% who cannot even invent ways to spend their vast fortunes and buy enough luxuries you cannot even fathom. The trickle down from the uber rich class is only in form of charity and based on their personal values and opinions.

Good peasant, be happy things we used to take for granted in middle class upper layers are going extinct and we will be sifted into rich and poor happy to work most of their time and take on education debt just to pay for basic life not being able to afford a cup of coffee, happy hour drinks or a movie ticket.

How many middle class families had cleaning ladies when you were growing up?

Didn't know any. That's the thing. What most of us grew up with as MC did not involve McMansions, cleaning ladies, lawn service, etc. We were our parents cleaning service and lawn service on Saturdays. We lived in a 3 bed 1.5 if lucky 2.5 bath home. And we ate out once every 2 weeks at a "cheap" place.

We didn't uber eats, dine out 3-4 nights per week, etc.

I think the point of OPs post is that they expected to live UMC life, not MC on this money because at some point it did used to buy you UMC lifestyle. You earn professional salary and you should be able to afford to outsource a few things to get some time off on weekends away from chores to get some social time with peers at happy hour, go to a few dinners and grow connections to lead to better jobs, etc. It meant you had some disposable income (to dine a few times, to travel on the budget, to buy a few nice things like electronics, furniture and car that are not beat up, clothes that aren't all from deeply discounted or thrift stores, etc. It's not an extravagant life. But it does require something is left after you paid your bills and put your retirement portion away.

And for someone making $275K, even in DCUMland, there SHOULD be something left for use as disposable income for outsourcing. However, if you have two 900/month car payments, that is where some of your "disposable" income has gone. Choices are key because yes at 275K you are not getting "everything you want as extras" Or they have a mortgage at the upper limits for their salary. They can choose as DINKS to live in a condo or townhome, and then much of that is already "outsourced" and mortgage would be much lower. But if they "need a 3K home that is less than 5 years old" then that is also a choice for where to direct "disposable income"

If you read the very first OP you will see that this isn't their situation. Their housing is moderately priced for the area and they agonize over buying a new car as well as going on more than 1-2 vacations per year. IDK where they are spending their disposable income, but it's not where you think. Maybe their vacations are extravagant or maybe they are just saving/investing and making sure certain amount of their left over is going to go to good use in the future.

Or maybe not everyone is so lucky with timing of hiding purchases and the federal reserve gods controlling the levers of interest rates. Yeah, it's easy to brag $275k is enough because you were lucky and were able to buy 15 years ago and refinanced a 2.63% rate. Meanwhile, other people are now paying all time high prices for housing WITH 6-7% interest rates. Sure, $275k is enough money when your mortgage is locked in at $1700/mo. It's a lot different when othe people have to now pay $4000/mo for the same house.

[Anonymous]

It truly is crazy that people nowadays say “I wouldn’t be able to afford my house if I had to buy it today”

Honestly, they shouldn’t be in that house if they can’t afford it today. There should be an evicting mechanism, like making sure property taxes match a “current mortgage”. But as a country we have so many benefits to homeowners that it distorts the housing market tremendously.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, show us your expenses and we’ll tell you how to live like a king. Clean your own house, cut your own lawn, stop streaming multiple services, stop it with the daily Starbucks. Bring your lunch.

What kind of car do you drive? Do you vape? Are you getting a new phone every year?

Stop keeping up with the Jones’s.

Do you believe that having a cleaning lady, lawn service, streaming and ability to spend $20 bucks daily on lunch/coffee signifies luxury extravagant lifestyle if one works full time in a professional job? It's funny you think this is extravagant and get mad at DINKs in professional jobs (IMO they should be easily able to afford these things) but there is no questioning of the sky-is-the-limit accumulation of wealth by the 0.1% who cannot even invent ways to spend their vast fortunes and buy enough luxuries you cannot even fathom. The trickle down from the uber rich class is only in form of charity and based on their personal values and opinions.

Good peasant, be happy things we used to take for granted in middle class upper layers are going extinct and we will be sifted into rich and poor happy to work most of their time and take on education debt just to pay for basic life not being able to afford a cup of coffee, happy hour drinks or a movie ticket.

How many middle class families had cleaning ladies when you were growing up?

Didn't know any. That's the thing. What most of us grew up with as MC did not involve McMansions, cleaning ladies, lawn service, etc. We were our parents cleaning service and lawn service on Saturdays. We lived in a 3 bed 1.5 if lucky 2.5 bath home. And we ate out once every 2 weeks at a "cheap" place.

We didn't uber eats, dine out 3-4 nights per week, etc.

I think the point of OPs post is that they expected to live UMC life, not MC on this money because at some point it did used to buy you UMC lifestyle. You earn professional salary and you should be able to afford to outsource a few things to get some time off on weekends away from chores to get some social time with peers at happy hour, go to a few dinners and grow connections to lead to better jobs, etc. It meant you had some disposable income (to dine a few times, to travel on the budget, to buy a few nice things like electronics, furniture and car that are not beat up, clothes that aren't all from deeply discounted or thrift stores, etc. It's not an extravagant life. But it does require something is left after you paid your bills and put your retirement portion away.

And for someone making $275K, even in DCUMland, there SHOULD be something left for use as disposable income for outsourcing. However, if you have two 900/month car payments, that is where some of your "disposable" income has gone. Choices are key because yes at 275K you are not getting "everything you want as extras" Or they have a mortgage at the upper limits for their salary. They can choose as DINKS to live in a condo or townhome, and then much of that is already "outsourced" and mortgage would be much lower. But if they "need a 3K home that is less than 5 years old" then that is also a choice for where to direct "disposable income"

If you read the very first OP you will see that this isn't their situation. Their housing is moderately priced for the area and they agonize over buying a new car as well as going on more than 1-2 vacations per year. IDK where they are spending their disposable income, but it's not where you think. Maybe their vacations are extravagant or maybe they are just saving/investing and making sure certain amount of their left over is going to go to good use in the future.

Or maybe not everyone is so lucky with timing of hiding purchases and the federal reserve gods controlling the levers of interest rates. Yeah, it's easy to brag $275k is enough because you were lucky and were able to buy 15 years ago and refinanced a 2.63% rate. Meanwhile, other people are now paying all time high prices for housing WITH 6-7% interest rates. Sure, $275k is enough money when your mortgage is locked in at $1700/mo. It's a lot different when othe people have to now pay $4000/mo for the same house.

Housing is not the only way to get ahead. They have chose to do nothing to get ahead for years and years and now complain about it. Just because they don't know how, doesn't mean the option wasn't there for them. It still is. Never a better time than now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, show us your expenses and we’ll tell you how to live like a king. Clean your own house, cut your own lawn, stop streaming multiple services, stop it with the daily Starbucks. Bring your lunch.

What kind of car do you drive? Do you vape? Are you getting a new phone every year?

Stop keeping up with the Jones’s.

Do you believe that having a cleaning lady, lawn service, streaming and ability to spend $20 bucks daily on lunch/coffee signifies luxury extravagant lifestyle if one works full time in a professional job? It's funny you think this is extravagant and get mad at DINKs in professional jobs (IMO they should be easily able to afford these things) but there is no questioning of the sky-is-the-limit accumulation of wealth by the 0.1% who cannot even invent ways to spend their vast fortunes and buy enough luxuries you cannot even fathom. The trickle down from the uber rich class is only in form of charity and based on their personal values and opinions.

Good peasant, be happy things we used to take for granted in middle class upper layers are going extinct and we will be sifted into rich and poor happy to work most of their time and take on education debt just to pay for basic life not being able to afford a cup of coffee, happy hour drinks or a movie ticket.

How many middle class families had cleaning ladies when you were growing up?

Didn't know any. That's the thing. What most of us grew up with as MC did not involve McMansions, cleaning ladies, lawn service, etc. We were our parents cleaning service and lawn service on Saturdays. We lived in a 3 bed 1.5 if lucky 2.5 bath home. And we ate out once every 2 weeks at a "cheap" place.

We didn't uber eats, dine out 3-4 nights per week, etc.

I think the point of OPs post is that they expected to live UMC life, not MC on this money because at some point it did used to buy you UMC lifestyle. You earn professional salary and you should be able to afford to outsource a few things to get some time off on weekends away from chores to get some social time with peers at happy hour, go to a few dinners and grow connections to lead to better jobs, etc. It meant you had some disposable income (to dine a few times, to travel on the budget, to buy a few nice things like electronics, furniture and car that are not beat up, clothes that aren't all from deeply discounted or thrift stores, etc. It's not an extravagant life. But it does require something is left after you paid your bills and put your retirement portion away.

And for someone making $275K, even in DCUMland, there SHOULD be something left for use as disposable income for outsourcing. However, if you have two 900/month car payments, that is where some of your "disposable" income has gone. Choices are key because yes at 275K you are not getting "everything you want as extras" Or they have a mortgage at the upper limits for their salary. They can choose as DINKS to live in a condo or townhome, and then much of that is already "outsourced" and mortgage would be much lower. But if they "need a 3K home that is less than 5 years old" then that is also a choice for where to direct "disposable income"

If you read the very first OP you will see that this isn't their situation. Their housing is moderately priced for the area and they agonize over buying a new car as well as going on more than 1-2 vacations per year. IDK where they are spending their disposable income, but it's not where you think. Maybe their vacations are extravagant or maybe they are just saving/investing and making sure certain amount of their left over is going to go to good use in the future.

Or maybe not everyone is so lucky with timing of hiding purchases and the federal reserve gods controlling the levers of interest rates. Yeah, it's easy to brag $275k is enough because you were lucky and were able to buy 15 years ago and refinanced a 2.63% rate. Meanwhile, other people are now paying all time high prices for housing WITH 6-7% interest rates. Sure, $275k is enough money when your mortgage is locked in at $1700/mo. It's a lot different when othe people have to now pay $4000/mo for the same house.

Housing is not the only way to get ahead. They have chose to do nothing to get ahead for years and years and now complain about it. Just because they don't know how, doesn't mean the option wasn't there for them. It still is. Never a better time than now.

What are you bloody blathering about? Someone who was in college in 2012 was not in position to buy a home. They had to graduate, get a job, and start saving. They may make $275k now, but because housing prices doubled, their $275k is worth a hell of a lot less than another couple making $275k who was able to buy their home 15 years ago and was able to lock in sub 3% rates.

Again, $275k is a good HHI if you were fortunate with timing and got cheap housing to lock in your $1800 per mo housing payments. It's a lot different for someone younger who now has to pay $4000 per month for the same house on the same income.

[Anonymous]

Anonymous wrote:It truly is crazy that people nowadays say “I wouldn’t be able to afford my house if I had to buy it today”

Honestly, they shouldn’t be in that house if they can’t afford it today. There should be an evicting mechanism, like making sure property taxes match a “current mortgage”. But as a country we have so many benefits to homeowners that it distorts the housing market tremendously.

There are so many things wrong with this.

1) property taxes do go up as market values rise, properties get reassessed and taxes go up. It's a big source of complaint for people on fixed income, especially elderly who cannot qualify for discounted rates based on them not having any other assets and living off social security with no savings. There is no advantage here, in fact, you can call RE tax increases "tax on unrealized gains" because you don't get any benefit from the value of your house rising unless you sell it. And if price goes down won't get your taxes back you paid on the inflated value that's not deflated.

2) what do you mean by "evicting people"? If someone is delinquent on mortgage or RE tax they can lose their property in foreclosure or lien sale. You never really own your house and entitled to keep it if you don't pay RE tax even if it's paid off.

3) If there are so many benefits to homeowners why aren't you are homeowner? If you are still starting out one day you will be a homeowner and take advantage of the same. We bought at the height of the market right before the 2008 crash, we didn't get much appreciation at all. Some people got lucky with timing/location, some had to buy/sell at a wrong time.

4) are in trying to propose we overtax people or rise the rates on fixed mortgages or force them to sell and buy at today's prices somehow? That negates the whole point of home ownership as insurance against rising cost of living you would get if you are renting. Do we convert everyone to market rate renters?

Most important question, what are you smoking

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, show us your expenses and we’ll tell you how to live like a king. Clean your own house, cut your own lawn, stop streaming multiple services, stop it with the daily Starbucks. Bring your lunch.

What kind of car do you drive? Do you vape? Are you getting a new phone every year?

Stop keeping up with the Jones’s.

Do you believe that having a cleaning lady, lawn service, streaming and ability to spend $20 bucks daily on lunch/coffee signifies luxury extravagant lifestyle if one works full time in a professional job? It's funny you think this is extravagant and get mad at DINKs in professional jobs (IMO they should be easily able to afford these things) but there is no questioning of the sky-is-the-limit accumulation of wealth by the 0.1% who cannot even invent ways to spend their vast fortunes and buy enough luxuries you cannot even fathom. The trickle down from the uber rich class is only in form of charity and based on their personal values and opinions.

Good peasant, be happy things we used to take for granted in middle class upper layers are going extinct and we will be sifted into rich and poor happy to work most of their time and take on education debt just to pay for basic life not being able to afford a cup of coffee, happy hour drinks or a movie ticket.

How many middle class families had cleaning ladies when you were growing up?

Didn't know any. That's the thing. What most of us grew up with as MC did not involve McMansions, cleaning ladies, lawn service, etc. We were our parents cleaning service and lawn service on Saturdays. We lived in a 3 bed 1.5 if lucky 2.5 bath home. And we ate out once every 2 weeks at a "cheap" place.

We didn't uber eats, dine out 3-4 nights per week, etc.

I think the point of OPs post is that they expected to live UMC life, not MC on this money because at some point it did used to buy you UMC lifestyle. You earn professional salary and you should be able to afford to outsource a few things to get some time off on weekends away from chores to get some social time with peers at happy hour, go to a few dinners and grow connections to lead to better jobs, etc. It meant you had some disposable income (to dine a few times, to travel on the budget, to buy a few nice things like electronics, furniture and car that are not beat up, clothes that aren't all from deeply discounted or thrift stores, etc. It's not an extravagant life. But it does require something is left after you paid your bills and put your retirement portion away.

And for someone making $275K, even in DCUMland, there SHOULD be something left for use as disposable income for outsourcing. However, if you have two 900/month car payments, that is where some of your "disposable" income has gone. Choices are key because yes at 275K you are not getting "everything you want as extras" Or they have a mortgage at the upper limits for their salary. They can choose as DINKS to live in a condo or townhome, and then much of that is already "outsourced" and mortgage would be much lower. But if they "need a 3K home that is less than 5 years old" then that is also a choice for where to direct "disposable income"

If you read the very first OP you will see that this isn't their situation. Their housing is moderately priced for the area and they agonize over buying a new car as well as going on more than 1-2 vacations per year. IDK where they are spending their disposable income, but it's not where you think. Maybe their vacations are extravagant or maybe they are just saving/investing and making sure certain amount of their left over is going to go to good use in the future.

Or maybe not everyone is so lucky with timing of hiding purchases and the federal reserve gods controlling the levers of interest rates. Yeah, it's easy to brag $275k is enough because you were lucky and were able to buy 15 years ago and refinanced a 2.63% rate. Meanwhile, other people are now paying all time high prices for housing WITH 6-7% interest rates. Sure, $275k is enough money when your mortgage is locked in at $1700/mo. It's a lot different when othe people have to now pay $4000/mo for the same house.

Housing is not the only way to get ahead. They have chose to do nothing to get ahead for years and years and now complain about it. Just because they don't know how, doesn't mean the option wasn't there for them. It still is. Never a better time than now.

What are you bloody blathering about? Someone who was in college in 2012 was not in position to buy a home. They had to graduate, get a job, and start saving. They may make $275k now, but because housing prices doubled, their $275k is worth a hell of a lot less than another couple making $275k who was able to buy their home 15 years ago and was able to lock in sub 3% rates.

Again, $275k is a good HHI if you were fortunate with timing and got cheap housing to lock in your $1800 per mo housing payments. It's a lot different for someone younger who now has to pay $4000 per month for the same house on the same income.

The couple that is making 275 today ..how much they were making 15 years ago when they bought their "$275k hhi affordable house"?

[Anonymous]

DINKs making $275k aren't struggling, even in DC. You can raise two kids on that income without struggling.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Yes, show us your expenses and we’ll tell you how to live like a king. Clean your own house, cut your own lawn, stop streaming multiple services, stop it with the daily Starbucks. Bring your lunch.

What kind of car do you drive? Do you vape? Are you getting a new phone every year?

Stop keeping up with the Jones’s.

Do you believe that having a cleaning lady, lawn service, streaming and ability to spend $20 bucks daily on lunch/coffee signifies luxury extravagant lifestyle if one works full time in a professional job? It's funny you think this is extravagant and get mad at DINKs in professional jobs (IMO they should be easily able to afford these things) but there is no questioning of the sky-is-the-limit accumulation of wealth by the 0.1% who cannot even invent ways to spend their vast fortunes and buy enough luxuries you cannot even fathom. The trickle down from the uber rich class is only in form of charity and based on their personal values and opinions.

Good peasant, be happy things we used to take for granted in middle class upper layers are going extinct and we will be sifted into rich and poor happy to work most of their time and take on education debt just to pay for basic life not being able to afford a cup of coffee, happy hour drinks or a movie ticket.

How many middle class families had cleaning ladies when you were growing up?

Didn't know any. That's the thing. What most of us grew up with as MC did not involve McMansions, cleaning ladies, lawn service, etc. We were our parents cleaning service and lawn service on Saturdays. We lived in a 3 bed 1.5 if lucky 2.5 bath home. And we ate out once every 2 weeks at a "cheap" place.

We didn't uber eats, dine out 3-4 nights per week, etc.

I think the point of OPs post is that they expected to live UMC life, not MC on this money because at some point it did used to buy you UMC lifestyle. You earn professional salary and you should be able to afford to outsource a few things to get some time off on weekends away from chores to get some social time with peers at happy hour, go to a few dinners and grow connections to lead to better jobs, etc. It meant you had some disposable income (to dine a few times, to travel on the budget, to buy a few nice things like electronics, furniture and car that are not beat up, clothes that aren't all from deeply discounted or thrift stores, etc. It's not an extravagant life. But it does require something is left after you paid your bills and put your retirement portion away.

And for someone making $275K, even in DCUMland, there SHOULD be something left for use as disposable income for outsourcing. However, if you have two 900/month car payments, that is where some of your "disposable" income has gone. Choices are key because yes at 275K you are not getting "everything you want as extras" Or they have a mortgage at the upper limits for their salary. They can choose as DINKS to live in a condo or townhome, and then much of that is already "outsourced" and mortgage would be much lower. But if they "need a 3K home that is less than 5 years old" then that is also a choice for where to direct "disposable income"

If you read the very first OP you will see that this isn't their situation. Their housing is moderately priced for the area and they agonize over buying a new car as well as going on more than 1-2 vacations per year. IDK where they are spending their disposable income, but it's not where you think. Maybe their vacations are extravagant or maybe they are just saving/investing and making sure certain amount of their left over is going to go to good use in the future.

Or maybe not everyone is so lucky with timing of hiding purchases and the federal reserve gods controlling the levers of interest rates. Yeah, it's easy to brag $275k is enough because you were lucky and were able to buy 15 years ago and refinanced a 2.63% rate. Meanwhile, other people are now paying all time high prices for housing WITH 6-7% interest rates. Sure, $275k is enough money when your mortgage is locked in at $1700/mo. It's a lot different when othe people have to now pay $4000/mo for the same house.

Housing is not the only way to get ahead. They have chose to do nothing to get ahead for years and years and now complain about it. Just because they don't know how, doesn't mean the option wasn't there for them. It still is. Never a better time than now.

What are you bloody blathering about? Someone who was in college in 2012 was not in position to buy a home. They had to graduate, get a job, and start saving. They may make $275k now, but because housing prices doubled, their $275k is worth a hell of a lot less than another couple making $275k who was able to buy their home 15 years ago and was able to lock in sub 3% rates.

Again, $275k is a good HHI if you were fortunate with timing and got cheap housing to lock in your $1800 per mo housing payments. It's a lot different for someone younger who now has to pay $4000 per month for the same house on the same income.

The couple that is making 275 today ..how much they were making 15 years ago when they bought their "$275k hhi affordable house"?

It's doesn't matter. The people TODAY making $275k say it is a good income because their housing costs are locked in to <$2k per month. A younger person who TODAY makes $275k feels like it is a ton less because their housing costs have doubled to tripled. $275k isn't a lot when housing now costs $3-4k instead of <$2k

[Anonymous]

If you feel poor earning $275,000 a year with no kids & no debt, you are mismanaging your money.

[Anonymous]

Anonymous wrote:If you feel poor earning $275,000 a year with no kids & no debt, you are mismanaging your money.

Or they dream bigger than you.

[Anonymous]

Okay. Then make more money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you feel poor earning $275,000 a year with no kids & no debt, you are mismanaging your money.

Or they dream bigger than you.

No. That still doesn’t make them poor. Words have meaning.