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.
Does it make you feel good to tease those of us who are poor?
Who are you?
And no. I do all I can to promote the standards of living for the middle class. The poor we already take care of. (I know a preposition is a bad thing to end a sentence with)
And no. I do all I can to promote the standards of living for the middle class. The poor we already take care of. (I know a preposition is a bad thing to end a sentence with)
There are people with 6 figures of assets unable to afford even the most modest of homes.
There are people with 6 figures of assets unable to afford even the most modest of homes.
6 figures of assets means $100,000 to $999,999. A very large range. The $100,000 asset holder might have to rent, buy a double wide, or live in a low COL area. With $1M one probably could manage housing about anywhere, save the most exclusive, or right downtown in a majorly expensive city. Assuming of course cash assets or assets that can be converted to cash on a timely basis.
Where I live in town of 50K in AZ, $250K can buy you a nice single family house with frills and amenities right out of the box. Better than modest as compared to other areas.
We have a local saying, 'Compared to California we can buy twice the house for half the price'.
6 figures of assets means $100,000 to $999,999. A very large range. The $100,000 asset holder might have to rent, buy a double wide, or live in a low COL area. With $1M one probably could manage housing about anywhere, save the most exclusive, or right downtown in a majorly expensive city. Assuming of course cash assets or assets that can be converted to cash on a timely basis.
Where I live in town of 50K in AZ, $250K can buy you a nice single family house with frills and amenities right out of the box. Better than modest as compared to other areas.
We have a local saying, 'Compared to California we can buy twice the house for half the price'.
Too bad you need to be in temperatures that can be twice that of California cities like arcata.
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,572,211 times
Reputation: 16698
Quote:
Originally Posted by Perma Bear
Does it make you feel good to tease those of us who are poor?
No one teasing the poor here. Just teasing one person who is a poor example of a rational person.
I can't help but wonder the strange conversations you have with Mommy. I'll bet the reason your work involves lots of walking by yourself is because you probably have a hard time carrying on a conversation with other co workers without them walking away. You keep posting your fear of being beat up, I think I see why now.
If you were my son I'd toss your butt out and pray you evolve into at least some semblance of a man who is responsible for himself and not blame others for imaginary bad things.
Location: Formerly Pleasanton Ca, now in Marietta Ga
10,351 posts, read 8,572,211 times
Reputation: 16698
Quote:
Originally Posted by Hoonose
Who are you?
And no. I do all I can to promote the standards of living for the middle class. The poor we already take care of. (I know a preposition is a bad thing to end a sentence with)
welcome to permabear world. You'll get used to it quickly as he says the same crazy things over and over.
Too bad you need to be in temperatures that can be twice that of California cities like arcata.
OK, I remember now.
AZ where I live is dry, clean, safe and hot half the year. As a doc I could live anywhere, and I actually came here from Chicago for the fishing. The heat was not a problem when I was younger, but now I no longer fish nor do sun. Planned properly the heat is not a problem. As I recall you work out in the sun, so until you adapt, it would be very difficult for you that half of the year.
Homeowners drink more milk because they are wealthier and they can buy milk?
Yes. Milk can be expensive. Poorer people likely don't buy it as much.
Quote:
Originally Posted by freemkt
Homeowners buy more clothes because they are wealthier and can buy clothes?
That's generally how it works. When I was up to my eyeballs in student loan debt, I went clothes shopping maybe twice a year. Now my closet's full and somehow I managed to find things I like!
Quote:
Originally Posted by freemkt
What is so special about homes that such outsize financial resources are required to buy them?
Well, many loans require a down payment which poor people are not going to be able to afford. Even for the ones that qualify for 0 down payment, I would imagine--and really, really hope by now!!!! let's not make the same mistake twice for goodness sakes!!!--- that their employment record and ability to earn a steady income will be heavily scrutinized. There are those people the float from one job to the next or have a too-high income to debt ratio that would disqualify them from getting a mortgage.
I know when I applied for my home loan, I had to demonstrate that I was able to pay a mortgage along with my other bills. If you got someone already having to pay (hypothetical situation) $1000 a month in debt and they're only bringing in say something like 3,000 a month I really really hope that mortgage companies are not that dumb to give this person a loan. If they are, they're just asking to have a high percentage of defaults and we're back to the situation before where, apparently this kind of stuff was done (????!!!!!!! Why are people that stupid?????????????????????!!!!!!!!!!!!!!!!!!!!!!! !!)
Quote:
Originally Posted by freemkt
Seems ironic that having fewer dollars to start with means you have to spend more dollars to live, i.e. buying is cheaper than renting in most markets.
It may be that way, yet you have to get to a point where you can buy first. Many low-income families already saddled with debt and high bills to pay can't get there and stay there too. Prospective new homeowners should be aware that they shouldn't think of just saving up to buy the home and then we can stretch our budget to the limit. There's a reason for why a home is called a money pit. It is way more frequent than not to have to have extra money for repairs, often right away (especially if it's not a brand new home, which I'd still be skeptical about not having to have the extra money hanging around for repairs, especially from what I hear of flimsy new-home construction). Those people who defaulted, probably a good percentage of them were able to get to the point of buying but weren't able to stay there because their budget was stretched too thin and they didn't leave room for repairs.
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.
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.
