Reply to 150k/yr is bad now

Forum Index » Money and Finances

Reply to "150k/yr is bad now"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]…it isn’t short term inflation that gives you the impression $150k is bad. Also, it is still a freaking great salary in the grand scheme of things. Plenty to live on. Not sure where you’re coming from. [/quote]

150k now is 120k in 2016 dollars according to CPI, 20% decline but other costs have gone up [b]30-40% since then like cars, housing, food, then if you include higher interest rates for mortgages this can effectively be a 50-100% cost increase[/b]. So for certain things 150k is like 75k just several years ago.[/quote]
100% increase is a little nuts and afaik not backed up by facts. However one big thing you're noting is why we have to take on this as public policy -- cost of housing both to rent and to purchase is batshit insane and is in many ways the expense that makes people feel their pay isn't enough. Those of us who were privileged to be older millennials with stable jobs who could buy at the bottom of the market post 2008, and refinance to a freaking low rate are in a different financial position from someone who doesn't own now and is facing higher and higher rents. We need more housing, we need more housing that is available, attainable, and afforable to those at all income levels.

[/quote]

100% isn’t inaccurate, it’s even higher than that in some cases. My house P&I is in the low $1500’s and if I were to buy my house today at the current rates and prices my P&I payment would be $3600. I literally bought my house a few months before Covid and refinanced to a low 2’s rate, before the refi I was paying mid 1900’s.[/quote]

Same poster - btw this is a townhouse in what would be considered an “exurb” here so not really desirable. 3600/mo + taxes and insurance would bring the PITI to 4000/month which is pretty much half of the take home pay on 150k/yr.

Yeah, 150k/yr is definitely not an aspirational lifestyle these days if this is what it gets you. [/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