Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "How rich are people who buy 3 million dollar houses"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous][quote=Anonymous]What's the typical income/net worth for this demographic? Is anyone making under 7 figures or having a net worth below 10 million?[/quote] There may be, but not us. The carrying costs are significant in terms of interest, taxes, maintenance, upkeep, and utilities. Even if there is no mortgage, the opportunity cost of having $3M of equity just sitting there is very high. I would say factoring all of the above, a $3M home may have about a 150-200k annual effective cost. Unless you are making 7 figures, that kind of housing cost is just excessive. [/quote] hmmm... what if that $3M equity becomes $5M or $6M in 7-8 years? And your estimate on the effective cost is way off. A $3M house here is new or newer, so there is minimal maintenance and utilities are also low due to the new building standards.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
