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Usually the president and his party are held responsible for the economy. The Dems are gonna get tossed next election because of this horrid inflation housing market, economy etc.
Hey! I never said I was proud of this state. Lord knows we have some serious problems here but the area I live in is constantly being bashed by other residents here and they very little about it. So, I just figured I'd clue the misinformed in on it.
If you can't tell where I live, just look at my screen name and you'll figure it out.
the median household income in the US per the 2020 census is $67,521. Per capita income is $34,103
Middle class changes depending on who you ask, because its purely a philosophical definition, but income data doesnt.
By the US census, using Pew Research definitions 29% of Americans are lower class(below 48,000), 52% were middle class (48,500 to $145,500) 19% Upper Class (145,501 and over)
Between 100,001 and 145,501 is 11%.
so 70% of all Americans make less than 100K
Idk where Centennial Utah is( or if you meant Colorado), but it certainly isnt middle class by any means.
Also, a quick google search says only 7 Zip codes(zipcodes, not census blocks) in the US have median incomes that high, so you are way off with your numbers, but also just astronomically off by what you assumed was middle class.
And Middle Class is a lifestyle as opposed to median income. A household earning $50k to $75k might be considered Middle Class in some areas of the country and not others.
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Quote:
Originally Posted by dicipher
And Middle Class is a lifestyle as opposed to median income. A household earning $50k to $75k might be considered Middle Class in some areas of the country and not others.
I can agree with that.
In Alabama, 75K would be well within middle class because of overall cost of living. But probably not so in New York, or California.
Status:
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(set 22 days ago)
Location: Pine Grove,AL
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Quote:
Originally Posted by dicipher
You'd be surprised how many posters on this forum can't figure that out.
Yea, everyone should be able to have nuanced conversations. That being said, anyone who believes 750K for a house is obtainable for the middle class is bonkers.
Bidenflation? More like Biden Derangement Syndrome.
No, it's about how many, many people more want to live in those great cities and consequently drive up costs. Life is wonderful there. So it drives up home prices big time. Compare that to cheap but highly undesirable cities to live in such as Topeka and Tulsa, where they try to bribe you with a deal of $10,000 to $15,000 to get you to move there.
Yea, everyone should be able to have nuanced conversations. That being said, anyone who believes 750K for a house is obtainable for the middle class is bonkers.
Actually that's a bargain in some cities (as we were just talking about) and within the range for the middle class in many high COL areas.
the median household income in the US per the 2020 census is $67,521. Per capita income is $34,103
Middle class changes depending on who you ask, because its purely a philosophical definition, but income data doesnt.
By the US census, using Pew Research definitions 29% of Americans are lower class(below 48,000), 52% were middle class (48,500 to $145,500) 19% Upper Class (145,501 and over)
Between 100,001 and 145,501 is 11%.
so 70% of all Americans make less than 100K
Idk where Centennial Utah is( or if you meant Colorado), but it certainly isnt middle class by any means.
Also, a quick google search says only 7 Zip codes(zipcodes, not census blocks) in the US have median incomes that high, so you are way off with your numbers, but also just astronomically off by what you assumed was middle class.
Housing prices and income are highly localized. My numbers are correct.
Status:
"everybody getting reported now.."
(set 22 days ago)
Location: Pine Grove,AL
29,550 posts, read 16,539,320 times
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Quote:
Originally Posted by dicipher
Actually that's a bargain in some cities (as we were just talking about) and within the range for the middle class in many high COL areas.
Actually, no, its bonkers
Places like NYC for example have homes with high value, but turnover is non existent, so the value never moves onto the market. And newer developments are required to both build and rent certain units to low income individuals so again, high value, but no mobility in it.
the State of NY defines middle class as 50K to 140K. A couple of magazines also define it as 60-180K( time, nerd wallet, NYT) when you adjust for COL
The problem with your argument is that according to the Census for the 5 NY boroughs , 82% of New York City residents make less than 100K. the median household income is 63,000, per capita is 39
Also , a reminder that more than 68% of NYC residents rent, they do not own, so again, home value means nothing in that context. I have seen the videos of people in LA and New York living with 5 or 6 people in an apartment
So no, that isnt really middle class in NY if more than 80% of the population cant qualify for it.
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