50% earn less than $26,363.55 or 72 Million Americans - Is Romney Concerned about them? (dollars, compare)

[sturmgeist]

Originally Posted by freemkt

"The private sector's doing fine." - Barry O

But how the heck did you get a mortgage in Massachusetts with an income under $26K? Did you actually buy a house and how much was your down payment?

I lived at home and saved up 35k by spending almost nothing for 3 years, 25k for down payment, 10k for remodel, 8k tax credit used for remodeling, spend $300/mo for remodeling. I live in Leominster, MA which is about 30-40 minutes from Boston. My house 3b 2 ba was under 100k in a pretty nice neighborhood, I gutted it, new everything,so it was/is a fixer upper. Still not done but very close,I have a thread on it but have not updated it in a bit. I do all the work myself aside from plumbing and sometimes have help. I take home $400/wk and my mortgage w/ tax and ins is $500/m. I save $300-400/m. One day I will trade up and move back closer to Boston but I am happy where I am for now. Hope this answers your questions

Not all of MA is expensive, closer to Boston and a few other places I could never dream of buying a home unless in a ghetto or something though. Oh yeah and I did have a co-signer because I had no credit.

Originally Posted by freemkt

WTF housing can you get for say $500/month in Massachusetts?

Here in Leominster I bought a 3bed 2 bath fixer upper, my mortgage is $500 almost on the dot incl tax and ins. I have invested about 20-25,000 on tools,building materials and cost of plumbing, I do basically everything myself and search on Craigslist for good deals on things I need. In the next 3 months I'm building kitchen cabinets, putting a roof on and residing the house with hardiplank. So, in my case you can get a really nice house(by my standards) in a nice neighborhood 30-40min away from Boston(with little traffic). Realistically, you can get a decent 3b 2 ba home for 150k here in Leominster, double that and more in the suburbs of Boston.

[walidm]

Originally Posted by sturmgeist

I lived at home and saved up 35k by spending almost nothing for 3 years, 25k for down payment, 10k for remodel, 8k tax credit used for remodeling, spend $300/mo for remodeling. I live in Leominster, MA which is about 30-40 minutes from Boston. My house 3b 2 ba was under 100k in a pretty nice neighborhood, I gutted it, new everything,so it was/is a fixer upper. Still not done but very close,I have a thread on it but have not updated it in a bit. I do all the work myself aside from plumbing and sometimes have help. I take home $400/wk and my mortgage w/ tax and ins is $500/m. I save $300-400/m. One day I will trade up and move back closer to Boston but I am happy where I am for now. Hope this answers your questions

Not all of MA is expensive, closer to Boston and a few other places I could never dream of buying a home unless in a ghetto or something though.

Nice!

[buzzards27]

Originally Posted by sturmgeist

I lived at home and saved up 35k by spending almost nothing for 3 years, 25k for down payment, 10k for remodel, 8k tax credit used for remodeling, spend $300/mo for remodeling. I live in Leominster, MA which is about 30-40 minutes from Boston. My house 3b 2 ba was under 100k in a pretty nice neighborhood, I gutted it, new everything,so it was/is a fixer upper. Still not done but very close,I have a thread on it but have not updated it in a bit. I do all the work myself aside from plumbing and sometimes have help. I take home $400/wk and my mortgage w/ tax and ins is $500/m. I save $300-400/m. One day I will trade up and move back closer to Boston but I am happy where I am for now. Hope this answers your questions

Not all of MA is expensive, closer to Boston and a few other places I could never dream of buying a home unless in a ghetto or something though. Oh yeah and I did have a co-signer because I had no credit.

Here in Leominster I bought a 3bed 2 bath fixer upper, my mortgage is $500 almost on the dot incl tax and ins. I have invested about 20-25,000 on tools,building materials and cost of plumbing, I do basically everything myself and search on Craigslist for good deals on things I need. In the next 3 months I'm building kitchen cabinets, putting a roof on and residing the house with hardiplank. So, in my case you can get a really nice house(by my standards) in a nice neighborhood 30-40min away from Boston(with little traffic). Realistically, you can get a decent 3b 2 ba home for 150k here in Leominster, double that and more in the suburbs of Boston.

I've done the same thing seven times before I built this home in 1994. I was flipping what I lived in before I knew that term. Living in dust most of my life. The kitchen here took about seven years to build, with all the side jobs, regular jobs and the 19 drawers I needed to build.

I have calculated out most of the transactions I did and other than the first three I didn't do much better than market appreciation when you factor in all the time and material you pour into these things. It never ends, in the 18 years I've been in this one I have remodeled a 1/3 of the original work already.

[Mircea]

Originally Posted by walidm

Thank you for your definition, it is useless for the purpose of this discussion.

Well, that would be in keeping with this thread.

Originally Posted by walidm

By definition, 50 percent of wage earners had net compensation less than or equal to the median wage, which is estimated to be $26,363.55 for 2010. Source

So?

It would appear you didn't understand this part of your source:

"The "raw" average wage,..."

I highlighted the operand special just for you. The reason your attempt at disinformation fails is because you didn't adjust the wages to the cost-of-living.

I can see why you would never do that, since it would destroy your argument.

The cost-of-living in the US is not uniform. Remember this is not Iceland (Population: 317,000) with one economy, this is the United States with several hundred economies running simultaneously.

Because of that fact which you and others continuously ignore, the reality is that sometimes you have this:

$26,000 = $60,000

and sometimes you get this:

$120,000 = $31,000

And what about those who by their own choice earn less than $26,000? Are you going to line them up and shoot them?

This is just another Liberal Penis Envy/Breast-implant Envy thread cloaked in the mantra of Compassion to hide the stench.

Challenging....

Mircea

[walidm]

Originally Posted by Mircea

Well, that would be in keeping with this thread.



So?

It would appear you didn't understand this part of your source:


Mircea

By definition, 50 percent of wage earners had net compensation less than or equal to the median wage, which is estimated to be $26,363.55 for 2010. Source

No matter how you try, you cannot twist this data.

Valiant epic failure...

[workingclasshero]

Originally Posted by walidm

By definition, 50 percent of wage earners had net compensation less than or equal to the median wage, which is estimated to be $26,363.55 for 2010. Source

No matter how you try, you cannot twist this data.

Valiant epic failure...

you are the one that is twisting


lets look at your TWISTY words

50% had a NET compensation (pay) less than OR EQUAL to the MEDIAN (50/50) wage

duhhhh


so lets' REALLY look at your words

the MEDIAN WAGE (individual) 26k...50% of wage earners earned more...50% earned less

that's why they call it MEDIAN

and many of those wage earners( TAX FORM FILERS) were RETIRIES, and TEENS

in FACT nearly 50% of ALL FILERS had a near ZERO tax liability....meaning nearly 50% OF ALL FILERS paid nearly zero in federal income taxes

the median household income is 51k

the op cant even get the topic straight

[sturmgeist]

Originally Posted by buzzards27

I've done the same thing seven times before I built this home in 1994. I was flipping what I lived in before I knew that term. Living in dust most of my life. The kitchen here took about seven years to build, with all the side jobs, regular jobs and the 19 drawers I needed to build.

I have calculated out most of the transactions I did and other than the first three I didn't do much better than market appreciation when you factor in all the time and material you pour into these things. It never ends, in the 18 years I've been in this one I have remodeled a 1/3 of the original work already.

I will not do this again. I like the satisfaction after I am done with a project but it's just too frustrating and I suck at construction. I did not do this to make a profit,just wanted a nice place and it is the only way I could do it

[malamute]

Originally Posted by walidm

By definition, 50 percent of wage earners had net compensation less than or equal to the median wage, which is estimated to be $26,363.55 for 2010. Source

No matter how you try, you cannot twist this data.

Valiant epic failure...

And this is while Obama is president, a president who just created 800,000 new work visas for foreigners, who is encouraging cheap labor illegals to pour over the border to take jobs for low wages.

Obama is doing absolutely nothing to bring wages up, in fact he's doing all he can to do the opposite.

[buzzards27]

Originally Posted by sturmgeist

I will not do this again. I like the satisfaction after I am done with a project but it's just too frustrating and I suck at construction. I did not do this to make a profit,just wanted a nice place and it is the only way I could do it

I did it to fill any gaps I had in employment, I was a carpenter/kitchen installer/builder and often found free time between contracts. The work kept me out of the bars at night and was like banking equity. My first deal, I turned a $24k home around in two years and sold it for $38k back in 1975. By 1994 I was mortgage free on this 2700 sq ft, $400k home.

LOL, funny thing, wife used to walk around here muttering, "never again", as we built this thing, time passed and now she is saying, "next time we'll do this or that"....

[Versatile]

Originally Posted by Yooperkat

Romney started STAPLES.

Staples employs over 70,000 people.

Obama turned down the Keystone Pipeline. Romney will approve it. 20,000 well paying jobs just like that.

What's Barack going to do?

Just make things worse.

The 20,000 jobs is a lie. Republican lie.