Reply to How rich are people buying 1-1.5 mil homes?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It’s a lot of dual income families making $350-$450k, rolling the equity from their starter home into the new home.[/quote]

This, and with childcare and saving for college, they are barely above middle class. [/quote]

As a dual income family making about $300k that rolled the equity from our starter home into a new $1.1 million home and also saves for college, no, sorry, you're wrong. Our household income alone makes us well above middle class. Then, of course, there's also the fact that we own a $1.1 million home. Just because we spend most of our money on stuff for rich people (like an expensive home and tax-advantaged college savings) and don't save like rich people doesn't make us any less rich.[/quote]

I should’ve clarified. Middle class for close in DC suburbs. The average price of a single family home in Arlington is over $1m now. It’s by definition middle class. [/quote]

No, I grew up middle class and now I have a $1M+ home in Arlington. My life is very comfortable and my kids are beyond privileged. Just because everyone we know also has a $1M house and a similar lifestyle does not make it “middle”. [b]We live in an affluent bubble that has little in common with how most middle class people in the US live[/b]. It just seems normal because we’re smack in the middle of the most contiguous counties in the US with a median household in ole over $100k. I live in “central Arlington” between Washington and Wilson. When I drive through the NE section of Arlington, I certainly do feel middle class in comparison. However I also drive through the neighborhoods south of Columbia Pike and then I feel rich. It’s all perspective.  [/quote]
No, you're living in your own bubble. Middle class elsewhere in the US live in much larger and nicer houses and have much better life quality. Your $1M shit shack dump in Arlington costs pennies elsewhere.[/quote]

That just means housing is expensive close-in to D.C., which makes a close-in house near D.C. a luxury items. Which means those of us who bought one own luxury items, not that we're middle class.[/quote]

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