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College and University Discussion
Reply to "Downward social mobility - anyone worries about it?"
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[quote=Anonymous]I've wondered this for years. Living in NW DC, everyone we know owns a $1-3 million home, has been an outlying success in whatever their chosen field is (salaries of $200K to $750K are typical in our neighborhood) but of course our kids are all over the map academically, etc. The reality is that most of them will neve make the same money as their parents did and while the parents are making very good salaries, they're not making enough to fund set up their kids with trust funds, etc. So what happens to the kids? Most of them will not ever be able to live in DC as homeowners or otherwise replicate their childhood lifestyles. They will ultimately be fine but it's interesting. [/quote]
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