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Considering something like 80% of people live check to check and most people can't sustain a $500 emergency that is considered wealthy among most people. That said I have 6 figures liquid in the bank and I don't feel rich, wealthy or any other word for having a lot of money.
At the same time, among my daughter's non-STEM peers in their mid- to late- 20s, everyone is earning north of $100K. One was an art history major, another an anthropology major, another an econ major, another a lit major... the list goes on. She and many of her college friends work in business development & inside sales. Her high school best friend graduated as a lit major and now makes about $200K as a technical recruiter in San Francisco. Another high school friend, decidedly non-technical who can't spell C++ makes $150K as a recruiter.
There is one extreme outlier among her long-time friends - a high school friend was given a pre-emptive offer to work at Facebook instead of going off to Harvard. He's in the over $250K group, never having gone to college. He's a one-in-a-million guy, of course.
Last edited by SportyandMisty; 06-23-2018 at 01:24 PM..
They're still there. Where do you think they went?
But white Americans don't seem to want them. They want this:
not this.
(These are a few blocks apart in an upscale suburb of Chicago. Three-to-one price difference.)
So immigrants live in them.
Patently untrue. We wanted a small house, as do our friends, much like the one you pictured, but the “starter homes” out there required more liquid cash than we had to remodel/revamp the plumbing and electrical and flooring to make it habitable (I’m disabled). Instead, we were forced to look at ugly, big new-builds we didn’t want to live in or keep clean, simply because that was the next cheapest option. We got REALLY lucky with the house we bought; the day we took possession I was outside chanting the locks and someone pulled up to ask if it was for sale. We put in our offer <12 hours after it listed, it was frantic trying to secure a reasonably priced and sized home for a FTB — which leads me to conclude a lot of people want them!
OK. How many of you that earn six figures did it right out of school or with less than 5-10 experience. The American dream is dead in many areas. Two people working to get to 6 figures sure. But what job actually starts out with a 50-60k entry level salary? Talking degreed jobs here so assume 50-60 a piece in student loan debt.
In my generation even (I am a gen xer), people bought homes in their early 20s and raised kids
Starter homes seem to be dead. I have no doubt rich people who bought low and lucked out making tons of money off their appreciating asset can do it
Even with that. Two people would need to make 100k a piece to buy in the bay area.
I think people who tout emergency funds and talk about 20 percent down payments are out of touch with the average person and spend most of their time around the well off. This country is a nation of haves and have nots. Is it any wonder millenials live with their parents until they are 35?
I do agree in small places its more possible. IF you can get a good job there. Also what about people who used to have kids?
Yes, the country has been slowly turning into the have's and have nots. Also, if someone loses their jobs, gets sick for a prolonged period, etc. Many factors that can turn a have into a have not.
We can thank the employers, who began to reduce wage increases beginning in the early ‘80s to the point where many people’s incomes today barely keep pace with inflation.
Compensation reflects value-add to society. Raises reflect increases in value-add. The best way to earn more is you know, to actually earn more.
At the same time, among my daughter's non-STEM peers in their mid- to late- 20s, everyone is earning north of $100K. One was an art history major, another an anthropology major, another an econ major, another a lit major... the list goes on. She and many of her college friends work in business development & inside sales. Her high school best friend graduated as a lit major and now makes about $200K as a technical recruiter in San Francisco. Another high school friend, decidedly non-technical who can't spell C++ makes $150K as a recruiter.
There is one extreme outlier among her long-time friends - a high school friend was given a pre-emptive offer to work at Facebook instead of going off to Harvard. He's in the over $250K group, never having gone to college. He's a one-in-a-million guy, of course.
Sales definitely seems to be the way to go to make good money. They don’t teach sales skills though at least for liberal arts majors . One doesn’t even need a degree if they are good enough at sales .
And many of our poor live a lifestyle that would be considered middle or upper class in much of the world .
Is that really the standard you want to measure the USA by? I’m surprised you don’t think better of our country.
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