Reply to s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?

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Reply to "s/o - feeling "poor" at these ludicrously high incomes. what are they actually missing?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think it's that simple. Lots of people in this area are not from here and are not from any competitive market like SF or NYC or even NJ or Mass. So they think by making it to DC and making 300k, they have ARRIVED. Then they look around and realize there are people making 400k, 500k, 1 million etc. They look around at the Jones and realize that at 300k, they may have to think about private school and it's no fair that their friends making 500k have to give zero thought to whether to enroll their 3 kids in private school.

And then they look back home to Wisconsin or Arkansas or wherever and realize that it's no fair that their old high school classmates -- who weren't even class valedictorian and weren't ivy bound land are grads of the local non flagship u are making 150k in sales and living in a McMansion style house with 2 brand new cars, whereas they HAVE ARRIVED in DC but "only" have a 700k brick home from the 1960s to show for it.

I haven't seen the same insecurity from people coming from say Long Island or NJ or the Bay Area bc they are used to be around A LOT of money and are also from competitive places so they never expected that they would be "the one" in their group of peers who'd be the success.[/quote]

I'm from LI and we moved to DC from NYC a few years ago. We have a HHI of $1 million, which is a lot around here but not that much in Manhattan. It is all relative. My friends in NYC live in more expensive homes but we love our $1 million single family home here. $1 million will not even get you a 1 bedroom in Manhattan. Our friends all spent at least $2 million for their 2-3 bedroom apartments.[/quote]

I get what you're saying as I moved here from Manhattan too but let's not exaggerate. Yes you can get a 1 bedroom for a million. A sibling of mine just bought one -- 1 bedroom, doorman building, though in midtown -- not upper east or west -- for ~600k. Yes if you have a family you want a 2 bedroom and a more "luxury" building so you're going to pay $2 million+ for it. But it's ridiculous to say that you just CAN'T get 1 bedroom for $1 million in Manhattan. [/quote]

A 600k apartment in NY is either in crappy condition or minuscule.  The average one bedroom in Manhattan is one million.  So the apartment he or she bought is well less than the average price.  The average house in the DC metro is ~350k.  Would you want to purchase a 200k home here!?[/quote]

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