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.
The first 500k in cap gains could be tax free for a married couple and more if you purchase another house I belive. All that aside it's all about choices. Being a millionaire, even house rich you have option
Yes... but is different than having a million in the bank and someplace to live.
Of course I am grateful for being in a high tax bracket, but that doesn't mean it's fair for the top few percent to pay most of the income taxes. Government could be much smaller, more efficient, and less obstructive to entrepreneurship and growth.
What's wrong with you Larry, you're supposed to want to give your money away, they love that you do.
$300-400k for a house?...In L.A that barely puts you in a rundown house in some of the worst areas these days!..Of course property prices in L.A have gotten ridiculous.
??? ??? ??? ??? ???
How do the occupants of the worst areas afford to live in $300K houses?
I made most of my wealth and I am by no means wealthy but I made most of money I do have in the stock market mostly on two stocks Apple and Microsoft back in the 90s. I wish I had bought more shares now in hindsight but oh well. To answer the question yes it is still a big deal to be a millionaire especially if the million is in cash and not liquid assets.
How do the occupants of the worst areas afford to live in $300K houses?
This does not compute.
Well the thing is the houses weren't always 300k+...Many bought them when they were half that price.
In many neighborhoods housing has doubled or nearly doubled from the 'crash' of 2009-2012 (or so) .
Another thing is the poorer areas in Los Angeles are mostly immigrant populations and they are used to living with family and many other people.
Also the poor people aren't the ones buying the houses. They are more likely to live in apartments. Some may rent houses though in the poorer areas with Section 8 vouchers .
In Los Angeles, housing prices don't really have anything to do with affordability. It's like NYC,San Francisco and some other cities.
I made most of my wealth and I am by no means wealthy but I made most of money I do have in the stock market mostly on two stocks Apple and Microsoft back in the 90s. I wish I had bought more shares now in hindsight but oh well. To answer the question yes it is still a big deal to be a millionaire especially if the million is in cash and not liquid assets.
Those were definitely some of the best stocks to buy especially back then. I used to work with a lady that had bought Apple at a very low price..I think $15/share and is still holding a lot of the shares. I don't even think she invested that much, but I'm sure she wishes she had put a lot more. Of course hindsight is 20/20 as you said.
Did you sell or do you still hold the stocks?
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.
