A shrinking middle class, but.... (mortgage, income, analysis, benefits)

[Hoonose]

Originally Posted by Perma Bear

I can afford to fix a car but can't afford any housing what am I?

In so many cases probably 2 of the largest middle class purchases. If you can reasonably handle both you are probably middle class. Being only able to do a car you might be lower middle class.

[Perma Bear]

Originally Posted by Hoonose

In so many cases probably 2 of the largest middle class purchases. If you can reasonably handle both you are probably middle class. Being only able to do a car you might be lower middle class.

So anyone who can't purchase a modest 2 bedroom house in a bad neighborhood that's a million dollars is lower middle class?

[Hoonose]

Originally Posted by Perma Bear

So anyone who can't purchase a modest 2 bedroom house in a bad neighborhood that's a million dollars is lower middle class?

My suggestion was very coarse.

Local COL living factors are very important.

Like we say locally, Californians get twice the house for half the price here!

$250K gets you a fine house in a nice neighborhood.

[Perma Bear]

Originally Posted by Hoonose

My suggestion was very coarse.

Local COL living factors are very important.

Like we say locally, Californians get twice the house for half the price here!

$250K gets you a fine house in a nice neighborhood.

And I can buy an acre on the moon, neither the house 2000 miles away or an acre on the moon have any utility.

[Hoonose]

Originally Posted by Perma Bear

And I can buy an acre on the moon, neither the house 2000 miles away or an acre on the moon have any utility.

You are picking the wrong place to live!

[Perma Bear]

Originally Posted by Hoonose

You are picking the wrong place to live!

You don't choose where you're born and you don't choose global climate conditions.

[SportyandMisty]

There is a difference between picking the wrong place to live and being an economic failure.

[Perma Bear]

Originally Posted by SportyandMisty

There is a difference between picking the wrong place to live and being an economic failure.

Being in the top 5-10% isn't generally considered a failure in most cases.

[Hoonose]

Originally Posted by Perma Bear

You don't choose where you're born and you don't choose global climate conditions.

But you choose where you live.

[Hoonose]

Originally Posted by SportyandMisty

There is a difference between picking the wrong place to live and being an economic failure.

Picking the wrong place may ensure your failure.

And of course visa versa.