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Old 05-30-2017, 04:01 PM
 
Location: Fairfield County CT
4,386 posts, read 3,265,858 times
Reputation: 2706

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Quote:
Originally Posted by kidyankee764 View Post
I can't even think of a way a family can live on 70-80k in CT and live a "wonderful middle class life".
I know quite a few young couples right here in Trumbull (Fairfield County) starting out with one child that are making about $70,000 to $80,000 having a nice life. They live in the southern portion of the town but they are thrilled to be in Trumbull and getting their children into a very good school system. They love it here and are very happy.

The NYC influence is skewing what one WANTS over what one NEEDS to have a good happy life here in CT.
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Old 05-30-2017, 04:05 PM
 
21,516 posts, read 30,922,140 times
Reputation: 9600
Quote:
Originally Posted by CTartist View Post
I know quite a few young couples right here in Trumbull (Fairfield County) starting out with one child that are making about $70,000 to $80,000 having a nice life. They live in the southern portion of the town but they are thrilled to be in Trumbull and getting their children into a very good school system. They love it here and are very happy.

The NYC influence is skewing what one WANTS over what one NEEDS to have a good life here in CT.
How is the NYC influence skewing wants vs needs? My figures hold true for any town outside of FFC where you can buy a ~300k house. It has nothing to do with a NYC influence. Curious to hear your reasoning behind that odd statement.
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Old 05-30-2017, 04:09 PM
 
2,971 posts, read 3,151,069 times
Reputation: 1060
Quote:
Originally Posted by CTartist View Post
I know quite a few young couples right here in Trumbull (Fairfield County) starting out with one child that are making about $70,000 to $80,000 having a nice life.
Makes sense, homes are dirt cheap there
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Old 05-30-2017, 04:32 PM
 
Location: Fairfield County CT
4,386 posts, read 3,265,858 times
Reputation: 2706
Quote:
Originally Posted by kidyankee764 View Post
How is the NYC influence skewing wants vs needs? My figures hold true for any town outside of FFC where you can buy a ~300k house. It has nothing to do with a NYC influence. Curious to hear your reasoning behind that odd statement.
Raider put it very nicely.
Quote:
Originally Posted by Raider111 View Post
Makes sense, homes are dirt cheap there
You don't NEED a $300,000 house outside of Fairfield County to have a good life. I have proved in my last post you don't even need it right here in Fairfield County to have a nice life. Houses under $300,000 may not be up to YOUR standard but they are just fine with the people who are purchasing them.

BTW OP, you can find a lot of nice towns outside of Fairfield County up in the Hartford where you can find a much bigger nicer house for $300,000 or under. I am sure Jay the moderator will confirm this.

I actually put a link to an article by Forbes (post #35) that showed that Hartford is the #4 area in the country for income purchasing power. I guess no one looked at it.
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Old 05-30-2017, 04:48 PM
 
21,516 posts, read 30,922,140 times
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Quote:
Originally Posted by CTartist View Post
Raider put it very nicely.


You don't NEED a $300,000 house outside of Fairfield County to have a good life. I have proved in my last post you don't even need it right here in Fairfield County to have a nice life. Houses under $300,000 may not be up to YOUR standard but they are just fine with the people who are purchasing them.

BTW OP, you can find a lot of nice towns outside of Fairfield County up in the Hartford where you can find a much bigger nicer house for $300,000 or under. I am sure Jay the moderator will confirm this.

I actually put a link to an article that showed that Hartford is the #4 area in the country for income purchasing power. I guess no one looked at it.
Nobody is saying anyone needs a 300k house. However a family will likely have to spend at least $1800-$2000 per month on rent or mortgage. The monthly payment between a 250k house and a 300k house (assuming 30 year mortgage) is not a huge difference at all. And even in the Hartford area, to live a middle class life in a town with decent schools, you'd better be ready to spend at least $250k. A quick look shows 250k in Newington will get you a modest 3 bedroom ranch. You're not getting a large colonial, as you make it sound.

Purchasing power is meaningless in this discussion. I've laid out approximately what a family making 70k will have to spend, which is pretty accurate. The results are that they will have little leftover every month after paying necessary bills and will undoubtedly live paycheck to paycheck. Again, I'm not quite sure what your reasons are for this vehement rebuttal, but it's getting old.
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Old 05-30-2017, 04:54 PM
 
2,005 posts, read 2,069,727 times
Reputation: 1513
Quote:
Originally Posted by CTartist View Post


I live in Fairfield County where you need to have a household income of at least $100,000. But I have lots of friends and relatives living outside of FFC with HH incomes of $70,000 to $80,000 living wonderful middle class lives. Some of the people who say you need much more than the average of $71,000 HHI are living in the wealthy towns outside if FFC. And yes there are quite a lot of those. But there are many nice middle class towns outside of FFC in CT.
I live outside of FFC in CT and the people I know making a 70k HHI struggle... and they only have 1-2 kids...
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Old 05-30-2017, 05:31 PM
 
Location: Fairfield County CT
4,386 posts, read 3,265,858 times
Reputation: 2706
Quote:
Originally Posted by SeaDoo342 View Post
I live outside of FFC in CT and the people I know making a 70k HHI struggle... and they only have 1-2 kids...
Where do they live**?


I put it all on the line and say the town (Trumbull) I live in. People can live above their means outside of FFC too CT. Maybe they picked a high end town that they can't afford.

OP there are people tossing around all kinds of negative comments without giving any meaningful information**. OP, I worked as an accountant, I was a branch manager of a bank. I also worked in the banks mortgage department. I worked with the clients an advised them on what they could and could not afford in a house. I may be an artist but I am but I understand finance.

BTW, do you all understand that where you are in your mortgage makes a big difference. So when you first buy a house the mortgage interest is mostly front loaded in the half of the mortgage (like the first 15 years of a 30 year loan). This also makes a house much more affordable than a lot of people realize.

Case in point. My cousin was one of the people that got into Trumbull in the southern portion of the town when he first got married. He had one of the $250,000 houses in Trumbull. Now 20 years later he lives across from the lake in Trumbull in one of the better areas (better than mine) in a $550,000 to $600,00 dollar house. The struggle is worth it if you are smart, thrifty and put blinders on to the Jonses next door.

**Give me the towns so we can see the stats on the area/income level/house costs etc.. Thanks
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Old 05-30-2017, 05:43 PM
 
21,516 posts, read 30,922,140 times
Reputation: 9600
Quote:
Originally Posted by CTartist View Post
Where do they live**?


I put it all on the line and say the town (Trumbull) I live in. People can live above their means outside of FFC too CT. Maybe they picked a high end town that they can't afford.

OP there are people tossing around all kinds of negative comments without giving any meaningful information**. OP, I worked as an accountant, I was a branch manager of a bank. I also worked in the banks mortgage department. I worked with the clients an advised them on what they could and could not afford in a house. I may be an artist but I am but I understand finance.

BTW, do you all understand that where you are in your mortgage makes a big difference. So when you first buy a house the mortgage interest is mostly front loaded in the half of the mortgage (like the first 15 years of a 30 year loan). This also makes a house much more affordable than a lot of people realize.

Case in point. My cousin was one of the people that got into Trumbull in the southern portion of the town when he first got married. He had one of the $250,000 houses in Trumbull. Now 20 years later he lives across from the lake in Trumbull in one of the better areas (better than mine) in a $550,000 to $600,00 dollar house. The struggle is worth it if you are smart, thrifty and put blinders on to the Jonses next door.

**Give me the towns so we can see the stats on the area/income level/house costs etc.. Thanks
How are my comments "negative"? They are very realistic. You're continuing to ignore my figures and keep screaming about want vs need, keeping up with the Joneses, and "NYC influence". In my list of expenses, none of it is "want", except maybe internet and TV. You keep mentioning how a family - remember, a FAMILY, not a single person - "outside of FFC" can have a fiscally wonderful life making 70k household, when that's simply untrue.

Maybe you can restart by addressing specifics in my initial list of expenses, and stop posting home averages, purchasing power links, and your employment history. Frankly, I can't keep up - you're all over the place.
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Old 05-30-2017, 05:49 PM
 
2,005 posts, read 2,069,727 times
Reputation: 1513
Quote:
Originally Posted by CTartist View Post

**Give me the towns so we can see the stats on the area/income level/house costs etc.. Thanks
Why so I can continue to read nonsense about how you think you're right because you posted a link? lol, no.
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Old 05-30-2017, 05:50 PM
 
2,005 posts, read 2,069,727 times
Reputation: 1513
Quote:
Originally Posted by kidyankee764 View Post
How are my comments "negative"? They are very realistic. You're continuing to ignore my figures and keep screaming about want vs need, keeping up with the Joneses, and "NYC influence". In my list of expenses, none of it is "want", except maybe internet and TV. You keep mentioning how a family - remember, a FAMILY, not a single person - "outside of FFC" can have a fiscally wonderful life making 70k household, when that's simply untrue.

Maybe you can restart by addressing specifics in my initial list of expenses, and stop posting home averages, purchasing power links, and your employment history. Frankly, I can't keep up - you're all over the place.
Wasting your breath...
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