Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > California
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 12-23-2011, 09:59 PM
 
Location: Everywhere and Nowhere
14,129 posts, read 31,243,410 times
Reputation: 6920

Advertisements

There are about 300,000 households making over $1 million a year according to the IRS so there are likely millions who make better than the $250K one would need to live in a $1 million + home. There are lots of people in this country who make good incomes and I'd say probably about 20% live in CA.
Reply With Quote Quick reply to this message

 
Old 12-23-2011, 10:58 PM
hsw
 
2,144 posts, read 7,160,563 times
Reputation: 1540
Many 1000s of actual millionaires and billionaires live/work in places like PaloAlto/Woodside or BevHills area...or Manhattan's UES and 15CPW

Suspect many/most of these guys were born into some middle-income family somewhere; figured out early in life how to enter a lucrative career and possibly built a profitable business of some kind...and joined ranks of "rich"...funny how that works...and how such characters migrate to wherever are greatest economic opportunities and most enjoyable lifestyles

Lots of most costly houses on LA's Westside are owned by many who earned their money by building some lucrative business, maybe tech or o&g or widget factory, in SiliconValley or Dall/Hou or Redmond or Chic or elsewhere...and seek to enjoy CA's amazing weather/topography/lifestyle on wkends or in their retirement
Reply With Quote Quick reply to this message
 
Old 12-24-2011, 03:36 AM
 
2,311 posts, read 3,504,997 times
Reputation: 1223
Quote:
Originally Posted by hsw View Post
Many 1000s of actual millionaires and billionaires live/work in places like PaloAlto/Woodside or BevHills area...or Manhattan's UES and 15CPW

Suspect many/most of these guys were born into some middle-income family somewhere; figured out early in life how to enter a lucrative career and possibly built a profitable business of some kind...and joined ranks of "rich"...funny how that works...and how such characters migrate to wherever are greatest economic opportunities and most enjoyable lifestyles

Lots of most costly houses on LA's Westside are owned by many who earned their money by building some lucrative business, maybe tech or o&g or widget factory, in SiliconValley or Dall/Hou or Redmond or Chic or elsewhere...and seek to enjoy CA's amazing weather/topography/lifestyle on wkends or in their retirement
*yawn ...
IMO if you had two sheets of paper .. both identical and a broad mass of clowns started paying $1 .. then $5, $20, $100, $1000, $100,000 for a 1cmx1cm spot on Sheet #1 ... whereas the 1cmx1cm spots on Sheet #2 go for $0.50 .. let the clowns pay $100,000 for sheet #1 and go move your sh*t to sheet #2. The broad majority of California's don't make the salaries you are quoting.. I make w/ investments/salary towards $200k+ a year .. but I've never been a trend follower in life.. Let the 'richies' as you call em have it IMO .. let them all pack in here like they do manhattan .. it will be the most boring place on earth

http://en.wikipedia.org/wiki/Tulip_mania



I suspect, due to relativity, people paying 4x-10x (k) for the same crap you can find elsewhere for a base price of (k).
and bigger fools always have a reason as to why .. 'it's soo worth it bro'.

Steve Job's Dad was an auto-mechanic .. wife had a simple job.. bought a house in Los Altos..
Impossible now-a-days..

http://www.thereporter.com/news/ci_19614033
Supply/Demand .. Sets of hysteria and lunacy... If you want to work your face in the ground to get a 'pair of jordans' (house in some of these hotspots) .. so be it..
I prefer my time and financial freedom much more.
Vast majority of Californians don't make squat .. Don't be fooled by the small amnt. of people like myself who make good money..
When I was a kid and I would go to the toy box to get a toy out of 28 in there .. there would many times be some clowns who wanted to fight over the same toy...
I found many times letting the other idiot kids fight over the same stupid toy that I was able to grab a good one and go off enjoying mine in peace ..
I guess you just have different types in the world.. meh'.

Last edited by yeahthatguy; 12-24-2011 at 03:47 AM..
Reply With Quote Quick reply to this message
 
Old 12-24-2011, 10:24 AM
 
7,150 posts, read 10,894,370 times
Reputation: 3806
Quote:
Originally Posted by yeahthatguy View Post
*yawn ...
IMO if you had two sheets of paper .. both identical and a broad mass of clowns started paying $1 .. then $5, $20, $100, $1000, $100,000 for a 1cmx1cm spot on Sheet #1 ... whereas the 1cmx1cm spots on Sheet #2 go for $0.50 .. let the clowns pay $100,000 for sheet #1 and go move your sh*t to sheet #2. The broad majority of California's don't make the salaries you are quoting.. I make w/ investments/salary towards $200k+ a year .. but I've never been a trend follower in life.. Let the 'richies' as you call em have it IMO .. let them all pack in here like they do manhattan .. it will be the most boring place on earth

Tulip mania - Wikipedia, the free encyclopedia



I suspect, due to relativity, people paying 4x-10x (k) for the same crap you can find elsewhere for a base price of (k).
and bigger fools always have a reason as to why .. 'it's soo worth it bro'.

Steve Job's Dad was an auto-mechanic .. wife had a simple job.. bought a house in Los Altos..
Impossible now-a-days..

Air Jordan shoes set off hysteria across U.S. - The Reporter
Supply/Demand .. Sets of hysteria and lunacy... If you want to work your face in the ground to get a 'pair of jordans' (house in some of these hotspots) .. so be it..
I prefer my time and financial freedom much more.
Vast majority of Californians don't make squat .. Don't be fooled by the small amnt. of people like myself who make good money..
When I was a kid and I would go to the toy box to get a toy out of 28 in there .. there would many times be some clowns who wanted to fight over the same toy...
I found many times letting the other idiot kids fight over the same stupid toy that I was able to grab a good one and go off enjoying mine in peace ..
I guess you just have different types in the world.. meh'.
... speaking of *yawn* ...
Reply With Quote Quick reply to this message
 
Old 12-24-2011, 05:45 PM
 
5,113 posts, read 5,970,285 times
Reputation: 1748
Quote:
Originally Posted by YoungTraveler2011 View Post
i understand that there are a lot of artists and stuff living there but seriously, every other house you see is 1kk............

what the hell do these people do.....
Many can't ... they are just now realizing it.
Reply With Quote Quick reply to this message
 
Old 12-24-2011, 06:57 PM
 
Location: San Luis Obispo and Santa Barbara Counties
6,390 posts, read 9,680,317 times
Reputation: 2622
often it depends on the year purchased or built and what happened to the area. Me mum's house was built for $35,000 in the early 60's and is worth over a million today, in large part to the change in values in the area.

That is not unusual.
Reply With Quote Quick reply to this message
 
Old 12-24-2011, 10:26 PM
 
Location: Pluto's Home Town
9,982 posts, read 13,756,994 times
Reputation: 5691
Housing bubble, which was a volcano on the broader plateau that is the boomer bubble. This served the boomers very well, and it will be the ruin of the subsequent generations who have been led to believe a working stiff can afford a million dollar home.

Check out California real estate in a decade or two. Anything before that in anything except the areas that have already crashed (Merced, Bakersfield,etc.) is a one way ticket to bankrupsy.
Reply With Quote Quick reply to this message
 
Old 12-25-2011, 08:22 AM
 
Location: San Luis Obispo and Santa Barbara Counties
6,390 posts, read 9,680,317 times
Reputation: 2622
Nah, aside from the bubble the rise in prices has been on the same line since the great depression, housing prices are getting to where they should be if the bubble had not happened.
Reply With Quote Quick reply to this message
 
Old 12-25-2011, 09:13 AM
 
Location: San Diego
50,245 posts, read 47,005,641 times
Reputation: 34045
Luck has a lot to do with it. It was for me.
Reply With Quote Quick reply to this message
 
Old 12-25-2011, 12:00 PM
 
Location: Mountains of Oregon
17,634 posts, read 22,629,029 times
Reputation: 14388
When my mom & dad bought their first home in California, it cost $11,000.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:


Settings
X
Data:
Loading data...
Based on 2000-2020 data
Loading data...

123
Hide US histogram


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > California

All times are GMT -6.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top