Because the reality is 99% of Irvine is tapped out at $300K of household income.
And yes, you win a cupie-doll, 99% of Americans are just glorified working stiffs. Especially the hot-shot wall street guys thinking they’re making $500K+ a year. Their years are number, their income is fickle.
I know plenty of people that did just as you said, they bought the rental properties, they were holding the bag when the music stopped in the last bubble.
Now, for your buy a well maintained condo. Okay, you do, how many do you need to own when you’re blowing through $200K+ a year in living expenses?
