Anonymous
09/12/2019 08:17
Subject: Study shows that 350k/year is barely scrapping by as middle class
Anonymous wrote:Anonymous wrote:Ooooook.
But if you live in DC, why are you paying anything for your 4 year old to go to school? And why do you need a house that expensive? There are lots of options for much less than that.
4 year olds need to go to preschool in Arlington and MoCo.
The mortgage in the example was only $3900/month. Not sure why they indicated such a high purchase price, but a $3900 mortgage is typical for inside the Beltway.
The point of the article is that typical middle class signifiers in many major American metro areas are now luxuries. What changed?
But it broke out property taxes, etc. The actual figure most people consider their "mortgage payment" is much larger.
Anonymous
09/12/2019 08:12
Subject: Study shows that 350k/year is barely scrapping by as middle class
Anonymous wrote:Ooooook.
But if you live in DC, why are you paying anything for your 4 year old to go to school? And why do you need a house that expensive? There are lots of options for much less than that.
4 year olds need to go to preschool in Arlington and MoCo.
The mortgage in the example was only $3900/month. Not sure why they indicated such a high purchase price, but a $3900 mortgage is typical for inside the Beltway.
The point of the article is that typical middle class signifiers in many major American metro areas are now luxuries. What changed?
Anonymous
09/12/2019 08:10
Subject: Study shows that 350k/year is barely scrapping by as middle class
How can people spend $4200 a year on baby shit? That's almost impossible. Plus, this stuff shouldn't be an annual expense. We bought a crib and stroller for our first child, then used them until our second was out of the baby stage. it make absolutely no sense.
and no one in a 1.8 mil home should be crying poor.
$70 a day for food is appalling.
And poor them, driving a Toyota SUV instead of a Range Rover.
This is a plush, upper class lifestyle where you have everything you need and much more, and are saving heavily for retirement.
They should also be ashamed at how little they give to charity. gross.
and no one in a 1.8 mil home should be crying poor.
$70 a day for food is appalling.
And poor them, driving a Toyota SUV instead of a Range Rover.
This is a plush, upper class lifestyle where you have everything you need and much more, and are saving heavily for retirement.
They should also be ashamed at how little they give to charity. gross.
Anonymous
09/12/2019 08:09
Subject: Study shows that 350k/year is barely scrapping by as middle class
Anonymous wrote:It’s not a “stupid article.” It was vetted by FIRE proponents and they agreed with the estimates. As a family with HHI around $320K in NW DC, these estimates are spot on.
The trick is to get a job in DC or Boston, and then move to a LCOL area while continuing to telecommute with the same job. I have a few colleagues doing this and they are very happy, especially in the young kid years.
What "middle class" neighborhood has a median home price of 1.6 million? It's definitely not Silver Spring, which is my definition of middle class in the DC area.
Anonymous
09/12/2019 08:09
Subject: Study shows that 350k/year is barely scrapping by as middle class
Anonymous wrote:Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.
What a stupid article.
Assuming preschool means daycare for a 4 year old, $24k is about right inside beltway.
If it’s 3 days a week with limited hours yeah that’s wrong.
Not really though. We send DD to an expensive program and it costs more like $18K. $24K is what full-time infant care often costs. Food is more like $1,000/month, including going out over the weekend.
Anonymous
09/12/2019 08:05
Subject: Study shows that 350k/year is barely scrapping by as middle class
Ooooook.
But if you live in DC, why are you paying anything for your 4 year old to go to school? And why do you need a house that expensive? There are lots of options for much less than that.
But if you live in DC, why are you paying anything for your 4 year old to go to school? And why do you need a house that expensive? There are lots of options for much less than that.
Anonymous
09/12/2019 08:01
Subject: Re:Study shows that 350k/year is barely scrapping by as middle class
Anonymous wrote:Ok lol
+1.
Anonymous
09/12/2019 08:00
Subject: Study shows that 350k/year is barely scrapping by as middle class
It’s not a “stupid article.” It was vetted by FIRE proponents and they agreed with the estimates. As a family with HHI around $320K in NW DC, these estimates are spot on.
The trick is to get a job in DC or Boston, and then move to a LCOL area while continuing to telecommute with the same job. I have a few colleagues doing this and they are very happy, especially in the young kid years.
The trick is to get a job in DC or Boston, and then move to a LCOL area while continuing to telecommute with the same job. I have a few colleagues doing this and they are very happy, especially in the young kid years.
Anonymous
09/12/2019 07:59
Subject: Study shows that 350k/year is barely scrapping by as middle class
These people are estimating $70 a day for FOOD, and $22,000 for their clothes, vacation, entertainment, and baby items.
Anonymous
09/12/2019 07:55
Subject: Study shows that 350k/year is barely scrapping by as middle class
Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.
What a stupid article.
Assuming preschool means daycare for a 4 year old, $24k is about right inside beltway.
If it’s 3 days a week with limited hours yeah that’s wrong.
Anonymous
09/12/2019 07:54
Subject: Study shows that 350k/year is barely scrapping by as middle class
Most people don’t expect to retire at 60.
Anonymous
09/12/2019 07:49
Subject: Study shows that 350k/year is barely scrapping by as middle class
Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.
What a stupid article.
Exactly.
Anonymous
09/12/2019 07:49
Subject: Re:Study shows that 350k/year is barely scrapping by as middle class
Ok lol
Anonymous
09/12/2019 07:48
Subject: Study shows that 350k/year is barely scrapping by as middle class
Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.
What a stupid article.
What a stupid article.
Anonymous
09/12/2019 07:45
Subject: Study shows that 350k/year is barely scrapping by as middle class
Crazy but true.
The mortgage isn't even that high.
https://www.marketwatch.com/amp/story/guid/FE54F728-D4B3-11E9-B531-3D4FB315D4ED
The mortgage isn't even that high.
https://www.marketwatch.com/amp/story/guid/FE54F728-D4B3-11E9-B531-3D4FB315D4ED