Reply to Tell Me About Living in NYC (or Suburb) on 500k/yr

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I had a lot of friends who lived in condos in fairfield county growing up and my parents live in one now after downsizing from their house. These condos aren't like city condos - they are basically townhomes in developments that have a pool and a gate house to make sure only residents enter. There is no stigma to living in one and they are very nice. My parents have a small yard. you could easily live there with two kids. Their condo would sell for well under $1M.

With older kids condo living would have advantages over many of the detached homes because the condos tend to be walkable to stores, while the homes typically aren't.[/quote]

Living in a condo in Fairfield county is similar to living in a condo here in DC in the burbs.   Normal well to do families don't want to live in a condo, especially when they earn 500k a year.  [/quote]

+ 1[/quote]

PP here. Yes it is true that people making $500K don't typically live in condos in Fairfield County or Westchester. But many with lower incomes do - so at $500K you won't be only comparing yourself to people who are wealthier. meaning it's not like the housing options start at $2M![/quote]

It's human nature to compare up, not down. That is why you see so many "$400k is middle class in DC" threads in the Money Forum. No it's obviously not statistically. But those people are comparing themselves against wealthier friends and acquaintances rather than the reverse. [/quote]

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