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

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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]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. [b]The average price of a single family home in Arlington is over $1m now. It’s by definition middle class.[/b] [/quote]

Your "definition" assumes that people only live in SFH's.  In other words: you are wrong.[/quote]

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