Reply to I don't get the whole "fake rich $250k" thing. We make just under 200k and are more than comfortable

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Reply to "I don't get the whole "fake rich $250k" thing. We make just under 200k and are more than comfortable"

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[quote=Anonymous][quote=Anonymous]In our area the rich is 600 k, nationally it's around 387k. Wtf is this 250k bs.

To be considered part of the 1 percent in this area, it takes a household income far above the national average of $387,000. The gateway for the region is $527,000. In the District, the top 1 percent of households bring in at least $617,000; in Montgomery County, more than $606,000; and in Fairfax County, $532,000, according to an analysis of census statistics by The Washington Post and Sentier Research, a firm that specializes in income data.

Http://articles.washingtonpost.com/2012-04-21/local/35451899_1_household-income-income-data-income-inequality[/quote]

But this is also incredibly skewed by the super-rich in Great Falls and the like.  The median household income for the District is 58k.  So if you make 250k, you are making more than QUADRUPLE the median household income.

It's also worth acknowledging that yes, housing costs are higher here, but the majority of 300k earners are buying a home.  When they buy a million dollar home and pay the mortgage, they are building up to 1m in equity.  That's a lot different than the 100k earner in flyover country that buys a 350k home and builds a third of that in equity.

The reality is that we all pay a premium to live somewhere that we think is desirable.  Just because you spend money to achieve that goal doesn't mean that you don't make an objectively large sum.  You just spend a large sum, also.[/quote]

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