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I am taking a walk around my neighborhood (A suburb in the Bay Area, USA), and I am looking at all these dang houses. Pretty much anyone of these houses starts at $1m. You will walk by someone who has a house and like, a recent Porsche. And the math just isn't working out for me. This only makes sense if people are up to their eyeballs in debt, or make 500k+ a year. I know the payscales at big tech companies, and, sure, maybe with options, you clear 500k, but cash kind of peters out at 300k. And I don't think everyone in my zone works at Google. It just feels like there are too many houses at too high of a price, and that there cannot be enough jobs that pay enough to afford all these frikken houses. Even jobs at the 250k level are hard to find outside of big tech, law, medicine. There are these calculators that say you can afford a 1.5m house on 300k combined income. That is like a 7k monthly note. That sounds insane to me. How the hell are there enough jobs paying 200k+ to pay for all these 1m+ houses?
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May 9, 2020 04:14
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They actually don't and can't, OP.
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May 9, 2020 04:18
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https://www.youtube.com/watch?v=r0HX4a5P8eE
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May 9, 2020 04:19
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gently caress the 1%!
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May 9, 2020 04:19
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I'm in a lot of debt. Don't own a porsche though
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May 9, 2020 04:20
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red pill and wp
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May 9, 2020 04:22
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I think it's just one or two guys who own everything in the bay area, and they just rent it out to everyone else.
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May 9, 2020 04:23
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up to the eyeballs in debt
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May 9, 2020 04:23
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Are you asking how do they afford their rock and roll lifestyles?
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May 9, 2020 04:25
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Just how big IS that trust fund?
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May 9, 2020 04:26
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Zeinin posted:There are these calculators that say you can afford a 1.5m house on 300k combined income. That is like a 7k monthly note. That sounds insane to me. $7k a month is insane, but all of the people who tell you 300k doesn't go that far are full of poo poo. Even with taxes in CA you're clearing 200-210k as a couple, and if you spend 7k on a mortgage that still leaves over 9k a month for other bullshit
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May 9, 2020 04:50
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They have scrimped and saved for twelve thousand years. It all adds up.
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May 9, 2020 04:56
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About 15% of Americans are millionaires, sorry if that doesn't include you but it includes a lot of normal people.
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May 9, 2020 04:57
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Pick posted:About 15% of Americans are millionaires, sorry if that doesn't include you but it includes a lot of normal people. lol that is not right at all
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May 9, 2020 05:01
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porn industry and drug dealing op
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May 9, 2020 05:02
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The answer is the powerball
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May 9, 2020 05:08
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Suckin dick. 
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May 9, 2020 05:09
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suckin dick in a hovercraft 
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May 9, 2020 05:10
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[graph of wage increases keeping pace with inflation up to a point where they stagnate and credit limit increases keep the pace instead]
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May 9, 2020 05:13
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EA Sports posted:porn industry and drug dealing op Username. No combo, just that.
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May 9, 2020 05:17
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America is a disgusting hell bog and I'm glad it's dying/dead.
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May 9, 2020 05:17
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My trick is to get paid a bunch of money. I don't know why more people don't just do that.
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May 9, 2020 05:26
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Things are getting pricey by me, but reading that makes me so glad to be in a place where we play "fireworks or gunshots?" 2-5 nights a week and it has a rough reputation that's keeping all but the most clueless transplants away.
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May 9, 2020 05:27
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EA Sports posted:porn industry We know all about your micro transactions.
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May 9, 2020 05:29
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its all a bunch of crap OP. money isnt real and the economy is just an elabourte way to enforce the pecking order
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May 9, 2020 05:30
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frogge posted:Things are getting pricey by me, but reading that makes me so glad to be in a place where we play "fireworks or gunshots?" 2-5 nights a week and it has a rough reputation that's keeping all but the most clueless transplants away. I'd move to Detroit if it wasn't for the cold and snow.
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May 9, 2020 05:35
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Pick posted:About 15% of Americans are millionaires, sorry if that doesn't include you but it includes a lot of normal people. Near enough... quote:https://dqydj.com/how-many-millionaires-decamillionaires-america/ I have no idea how..
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May 9, 2020 05:36
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Inept posted:$7k a month is insane, but all of the people who tell you 300k doesn't go that far are full of poo poo. Even with taxes in CA you're clearing 200-210k as a couple, and if you spend 7k on a mortgage that still leaves over 9k a month for other bullshit Can you get me a job?
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May 9, 2020 05:37
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All about that paper. The Bay Area is an overpriced poo poo hole that attracts rich assholes who are too chicken poo poo to live in LA. Kick em all out and let the homeless have their expansive tasteless houses.
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May 9, 2020 05:38
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i am harry posted:Near enough... That’s closer to 5% than 15
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May 9, 2020 05:38
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i am harry posted:Near enough... I'm not clicking to figure out their formula but, just because you have a $1,000,000 mortgage doesn't mean your net worth is a million bux, and i'm rear end you me'ing that's what they're doing
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May 9, 2020 05:40
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quote:11.76% of all households where most of those households are 2 people. If there are two people with a combined net worth of a million dollars, each is referred to as a millionaire. even though a single person needs their own million to be called a millionaire. so the number of millionaire persons will be higher than 11.76, making 15% quite a conservative estimate overall.
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May 9, 2020 05:40
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Supreme Allah posted:I'm not clicking to figure out their formula but, just because you have a $1,000,000 mortgage doesn't mean your net worth is a million bux, and i'm rear end you me'ing that's what they're doing It is not.
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May 9, 2020 05:40
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i am harry posted:Near enough... That djdxjqx.com site said “our estimates” like 5 times with no evidence lol My estimate is I’m a billionaire
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May 9, 2020 05:41
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Pick posted:where most of those households are 2 people. If there are two people with a combined net worth of a million dollars, each is referred to as a millionaire. even though a single person needs their own million to be called a millionaire. so the number of millionaire persons will be higher than 11.76, making 15% quite a conservative estimate overall. WHat the gently caress are you even talking about
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May 9, 2020 05:47
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Burt Sexual posted:That djdxjqx.com site said “our estimates” like 5 times with no evidence lol you internet search the answer then, I'm no mathemagician
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May 9, 2020 05:56
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It says right at the start that they estimate 14.8 million Americans are millionaires. There are approx 330 million total Americans so about 4.5% of Americans should be millionaires by their estimate. It’s not 15% of Americans
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May 9, 2020 05:56
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all that time you have sitting by your snake infested lake with your wife and your cancelled cruise tickets
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May 9, 2020 05:57
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I just googled it and got 5.8 percent, which seems kinda high still but much more believable if you consider that even someone pulling in a low 6 figs could gradually accumulate 1 over their life and pass that to their kid. OP's post makes me think of my neighborhood though. I live in an affordable part of eastern wa so even a nice neighboorhood we're looking at some decent housing that exudes "well off" for not really too much, I'd guess median price in neighborhood is low 300's. We go on walks around the neighborhood and like literally everyone has very new huge 60+k trucks, sometimes for him and her, and boats sticking out of their garage and greyhound bus sized campers that show up now and then during camping season and while there are some decent jobs here it's not like a tech bubble or something kind of area, well off is still probably 5 figures so I imagine a whole lot of it is financed.
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May 9, 2020 05:59
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OP, I just entered it into a mortgage calculator, and a 25-year mortgage on a $1M house at 2.89% (admittedly, a very good rate) is $4676.19 per month. Usually people recommend keeping living costs to like, a third of your income, so if you're paying $4700 * 12 = $56,400, and someone would "only" need to make $169,000 (nice) to make that "reasonable". If it's a dual income family, I wouldn't even feel that mad about it
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May 9, 2020 05:59
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