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Old 06-01-2017, 11:15 AM
 
21,553 posts, read 30,976,392 times
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Quote:
Originally Posted by beerisgood02 View Post
Agreed. They will be eaten alive here on 62k.
What if they need to replace a roof, or furnace, etc. Things always pop up and they won't have the means to make everything work.
Exactly. I'd like to see CT grow, too, but let's be realistic here. Some of these ridiculous posts make me think some posters need to take their head out of the sand. I'm not sure if they're doing this intentionally to make a statement to the "naysayers" or if they actually believe a family of four can make ends meet here on less than 65k. Either way, it's appalling and needs to stop.
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Old 06-01-2017, 11:32 AM
 
Location: Ubique
4,316 posts, read 4,174,969 times
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Quote:
Originally Posted by kidyankee764 View Post
Exactly. I'd like to see CT grow, too, but let's be realistic here. Some of these ridiculous posts make me think some posters need to take their head out of the sand. I'm not sure if they're doing this intentionally to make a statement to the "naysayers" or if they actually believe a family of four can make ends meet here on less than 65k. Either way, it's appalling and needs to stop.
You've made your points very well, and I agree with you -- without a COL adjustment, OP should not come to CT, unless there are compelling reasons we are not privy to.

But, there are many ways to skin the cat. East of River is skinning that cat with 50k. Others are too. We don't know a lot more than we know about OP.
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Old 06-01-2017, 11:51 AM
 
Location: Northern Fairfield Co.
2,918 posts, read 3,207,594 times
Reputation: 1341
Maybe this will put it to rest....


Below are the 2017 Federal Poverty Level, the Medicaid Eligibility Level, and Premium Subsidy Threshold figures.


Note these are not state specific, but are federal guidelines. A family of 4 making less than $98,400 qualifies for some federal assistance in the form of a tax subsidy to lower health insurance costs ( ala Affordable Care Act). Meaning: Even the federal government recognizes that a family of 4 living off of $98,400 may have trouble making ends meet and may perhaps need some assistance.

Is $70K doable for a family of 4 in CT, sure - I guess??? But it's not going to be comfortable by any means, and it's not going to be a nice middle class lifestyle.

Persons in Household 2017 Federal Poverty Level Medicaid Eligibility (138% of FPL) Premium Subsidy Threshold (400% of FPL)
1 $12,060 $16,643 $48,240
2 $16,240 $22,411 $64,960
3 $20,420 $28,180 $81,680
4 $24,600 $33,948 $98,400

Last edited by Lalalally; 06-01-2017 at 01:06 PM..
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Old 06-01-2017, 12:34 PM
 
2,005 posts, read 2,072,887 times
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Quote:
Originally Posted by Lalalally View Post
Is $70K doable for a family of 4 in CT, sure - I guess??? But it's not going to be comfortable by any means, and it's not going to be a nice middle class lifestyle.
EXACTLY.... end of thread.
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Old 06-01-2017, 06:22 PM
 
1,984 posts, read 1,438,987 times
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Quote:
Originally Posted by kidyankee764 View Post
Your mortgage amount, gas for vehicles, and car payment figures are unrealistic. Mortgage would have to be closer to 2,000 (unless they're buying a house 200k or under) and gas closer to 300-350, especially with two vehicles. That brings the numbers to about $600 more, so you can forget that meal out or long weekend in a hotel.
In the Hartford area you can get a decent house for 200-250 which is what that payment is based on with 20% down. It won't be a large house but a 3 bedroom ranch or cape can be found.
I have 2 cars I drive 50 miles a day my wife drives around 7 (we live close to everything we need) it runs us a little over 200/month currently.
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Old 06-01-2017, 06:24 PM
 
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Quote:
Originally Posted by Lalalally View Post
22 years ago, before kids and before marriage, my husband and I made a combined income of $70k. Just the two of us, renting a townhouse in Danbury for $900/month. We were comfortable, but not living large. But that was 22 years ago... We would be living paycheck to paycheck if we had to do that now with kids.
I bought a house in CT with a income of around 36k a year when I was in my twenties around 20 years ago. Making 36k a year was fine.
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Old 06-01-2017, 06:25 PM
 
1,984 posts, read 1,438,987 times
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Quote:
Originally Posted by Raider111 View Post
I would say about 99% of people with hhi of 70k (guy works in body shop or changes oil and the lady is a secretary) dont have 120k in cash for a downpayment.
Right but many own houses and would consider themselves middle class they just live in Windsor locks instead of Glastonbury.
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Old 06-01-2017, 07:03 PM
 
21,553 posts, read 30,976,392 times
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Quote:
Originally Posted by East of the River View Post
Right but many own houses and would consider themselves middle class they just live in Windsor locks instead of Glastonbury.
Yes, and without a 40%+ down payment, their monthly mortgage is much higher, meaning they're also probably living paycheck to paycheck, or at least close to it. That's my point in this thread.
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Old 06-01-2017, 07:03 PM
 
Location: Palm Beach County, FL
44 posts, read 46,957 times
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Quote:
Originally Posted by East of the River View Post
I bought a house in CT with a income of around 36k a year when I was in my twenties around 20 years ago. Making 36k a year was fine.


22 year ago 36k was fine for me too. I had a $788 mortgage payment on a one bedroom condo purchased for $63,500(no money down). 2006 my taxes increased from $1800 to $2700. Common fees went from $154 to $232 per month. Health insurance increased during these years as well. I found myself losing ground. Using credit cards to fund monthly fees.


I took on extra work to increase my income to $42k per year. I was again breaking even. I can't imagine the struggles of a family of four.
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Old 06-01-2017, 07:05 PM
 
21,553 posts, read 30,976,392 times
Reputation: 9658
Quote:
Originally Posted by Bakes View Post
22 year ago 36k was fine for me too. I had a $788 mortgage payment on a one bedroom condo purchased for $63,500(no money down). 2006 my taxes increased from $1800 to $2700. Common fees went from $154 to $232 per month. Health insurance increased during these years as well. I found myself losing ground. Using credit cards to fund monthly fees.


I took on extra work to increase my income to $42k per year. I was again breaking even. I can't imagine the struggles of a family of four.
Exactly.
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