Average SD family 2000 vs 2010

[sobmaz]

The “median” home price today is really really skewed by all the low end sales due to foreclosures and short sales. The median of today is a far cry from the median of yesterday.

As far as payments that are lower due to the Federal Reserve literally printing money to force 30 year rates down, a temporary anomaly and how many people are getting that full advantage?

Between the “median” and the interest rate issue, you are way out in left field already.

Oh, and my car. My car that is a better deal than 10 years ago? The car that requires gasoline that is 100% higher? The car that requires oil changes that are 130% higher? The car that has repair bills that are 100% higher? The car that my insurance company is taking me to the bank on? God forbid I need to take it into a body shop.

I could go on and on, tires are double, traffic fines triple, parking double. How many hotels now charge for parking? Went to Torrey Pines today, 10.00 to park the car.

Same with houses. The cost to maintain, roofing and general upkeep have skyrocketed at least 50% since 2000. Forget about property tax (the house I bought in n park in 1999 had a 3200 a year tax bill, someone buying it today would have a 8000 a year tax bill), heating, cooling and water.

Obviously you are doing better than 10 years ago but I certainly am not. 10 years ago I had assets of 100K and felt comfortable buying the house of my choice in the hood I wanted.

Today, I have assets of 700K and would not feel financially comfortable buying in the hood I wish.

Maybe that is because I am 10 years older and worry about old age or maybe 700K aint really much any more when all it is is enough to buy a house outright that still gives you a 800 a month property tax bill.

[an]

Interesting comment sobmaz. I personally would think I’m doing better than 10 years ago if my asset is 7x and $600k larger than it was 10 years ago. I wonder who else feel they’re not doing better than 10 years ago while sitting on an asset that’s 7x larger.

BTW, do you have data to back up those statement about car maintenance cost? RIght now, I can get my oil change for $10. Are you saying oil change was $5 10 years ago?

You’re contradicting yourself w/ the median housing price and being worse off. If all those low end homes are pulling down the median price (much more than 10 years ago), then wouldn’t that mean people who are looking for a low end homes are not only getting a great deal w/ the home price AND a killer interest rate?

Also, care to tell me if your new monthly payment with today’s rate save you enough to cover all of the increases you’ve mentioned?

[an]

Interesting comment sobmaz. I personally would think I’m doing better than 10 years ago if my asset is 7x and $600k larger than it was 10 years ago. I wonder who else feel they’re not doing better than 10 years ago while sitting on an asset that’s 7x larger.

BTW, do you have data to back up those statement about car maintenance cost? RIght now, I can get my oil change for $10. Are you saying oil change was $5 10 years ago?

You’re contradicting yourself w/ the median housing price and being worse off. If all those low end homes are pulling down the median price (much more than 10 years ago), then wouldn’t that mean people who are looking for a low end homes are not only getting a great deal w/ the home price AND a killer interest rate?

Also, care to tell me if your new monthly payment with today’s rate save you enough to cover all of the increases you’ve mentioned?

[an]

Interesting comment sobmaz. I personally would think I’m doing better than 10 years ago if my asset is 7x and $600k larger than it was 10 years ago. I wonder who else feel they’re not doing better than 10 years ago while sitting on an asset that’s 7x larger.

BTW, do you have data to back up those statement about car maintenance cost? RIght now, I can get my oil change for $10. Are you saying oil change was $5 10 years ago?

You’re contradicting yourself w/ the median housing price and being worse off. If all those low end homes are pulling down the median price (much more than 10 years ago), then wouldn’t that mean people who are looking for a low end homes are not only getting a great deal w/ the home price AND a killer interest rate?

Also, care to tell me if your new monthly payment with today’s rate save you enough to cover all of the increases you’ve mentioned?

[an]

Interesting comment sobmaz. I personally would think I’m doing better than 10 years ago if my asset is 7x and $600k larger than it was 10 years ago. I wonder who else feel they’re not doing better than 10 years ago while sitting on an asset that’s 7x larger.

BTW, do you have data to back up those statement about car maintenance cost? RIght now, I can get my oil change for $10. Are you saying oil change was $5 10 years ago?

You’re contradicting yourself w/ the median housing price and being worse off. If all those low end homes are pulling down the median price (much more than 10 years ago), then wouldn’t that mean people who are looking for a low end homes are not only getting a great deal w/ the home price AND a killer interest rate?

Also, care to tell me if your new monthly payment with today’s rate save you enough to cover all of the increases you’ve mentioned?

[an]

Interesting comment sobmaz. I personally would think I’m doing better than 10 years ago if my asset is 7x and $600k larger than it was 10 years ago. I wonder who else feel they’re not doing better than 10 years ago while sitting on an asset that’s 7x larger.

BTW, do you have data to back up those statement about car maintenance cost? RIght now, I can get my oil change for $10. Are you saying oil change was $5 10 years ago?

You’re contradicting yourself w/ the median housing price and being worse off. If all those low end homes are pulling down the median price (much more than 10 years ago), then wouldn’t that mean people who are looking for a low end homes are not only getting a great deal w/ the home price AND a killer interest rate?

Also, care to tell me if your new monthly payment with today’s rate save you enough to cover all of the increases you’ve mentioned?

[Eugene]

[quote]RIght now, I can get my oil change for $10. Are you saying oil change was $5 10 years ago?[/quote]

You can’t get anything remotely resembling decent oil for $10. I pay $25 for six quarts of synthetic at Walmart, before filter and before labor. Even if the mechanic has a super-nice wholesale deal on the oil, $10 is still not happening, unless they are doing the oil change at a loss for some reason.

[Eugene]

[quote]RIght now, I can get my oil change for $10. Are you saying oil change was $5 10 years ago?[/quote]

You can’t get anything remotely resembling decent oil for $10. I pay $25 for six quarts of synthetic at Walmart, before filter and before labor. Even if the mechanic has a super-nice wholesale deal on the oil, $10 is still not happening, unless they are doing the oil change at a loss for some reason.

[Eugene]

[quote]RIght now, I can get my oil change for $10. Are you saying oil change was $5 10 years ago?[/quote]

You can’t get anything remotely resembling decent oil for $10. I pay $25 for six quarts of synthetic at Walmart, before filter and before labor. Even if the mechanic has a super-nice wholesale deal on the oil, $10 is still not happening, unless they are doing the oil change at a loss for some reason.

[Eugene]

[quote]RIght now, I can get my oil change for $10. Are you saying oil change was $5 10 years ago?[/quote]

You can’t get anything remotely resembling decent oil for $10. I pay $25 for six quarts of synthetic at Walmart, before filter and before labor. Even if the mechanic has a super-nice wholesale deal on the oil, $10 is still not happening, unless they are doing the oil change at a loss for some reason.

[Eugene]

[quote]RIght now, I can get my oil change for $10. Are you saying oil change was $5 10 years ago?[/quote]

You can’t get anything remotely resembling decent oil for $10. I pay $25 for six quarts of synthetic at Walmart, before filter and before labor. Even if the mechanic has a super-nice wholesale deal on the oil, $10 is still not happening, unless they are doing the oil change at a loss for some reason.

[CA renter]

[quote=AN]Interesting comment sobmaz. I personally would think I’m doing better than 10 years ago if my asset is 7x and $600k larger than it was 10 years ago. I wonder who else feel they’re not doing better than 10 years ago while sitting on an asset that’s 7x larger.

[/quote]

Yes!!! We have significantly more money (over 10X) today than 10 years ago, but also feel less comfortable about our finances.

Back then, we were looking at fairly regular raises, and no layoffs or wage/benefit cuts on the horizon. Back then, we didn’t have to fear the Federal Reserve’s determination to destroy our currency and wipe out all of our wealth. Back then, our friends and neighbors were fully employed, and most were looking forward to making more in the coming years…today, many of those people are unemployed, or under-employed, with some making less than they were 10 years ago, with much less job security to boot. Back then, healthcare costs were high, but nowhere near as high as they are today, which can destroy anyone who is unemployed or without insurance. God forbid you lose your job in your 50s (unlikely to find a new, comparable job at that age, and in this economy), and you have to make it another 5-10 years before you qualify for Medicare. That’s absolutely frightening, because it can wipe you out, even if you have a few hundred thousand in cash…and then what?

I don’t know a single person, personally, who feels better about the economy today than 10 years ago. Not one.

[CA renter]

[quote=AN]Interesting comment sobmaz. I personally would think I’m doing better than 10 years ago if my asset is 7x and $600k larger than it was 10 years ago. I wonder who else feel they’re not doing better than 10 years ago while sitting on an asset that’s 7x larger.

[/quote]

Yes!!! We have significantly more money (over 10X) today than 10 years ago, but also feel less comfortable about our finances.

Back then, we were looking at fairly regular raises, and no layoffs or wage/benefit cuts on the horizon. Back then, we didn’t have to fear the Federal Reserve’s determination to destroy our currency and wipe out all of our wealth. Back then, our friends and neighbors were fully employed, and most were looking forward to making more in the coming years…today, many of those people are unemployed, or under-employed, with some making less than they were 10 years ago, with much less job security to boot. Back then, healthcare costs were high, but nowhere near as high as they are today, which can destroy anyone who is unemployed or without insurance. God forbid you lose your job in your 50s (unlikely to find a new, comparable job at that age, and in this economy), and you have to make it another 5-10 years before you qualify for Medicare. That’s absolutely frightening, because it can wipe you out, even if you have a few hundred thousand in cash…and then what?

I don’t know a single person, personally, who feels better about the economy today than 10 years ago. Not one.

[CA renter]

[quote=AN]Interesting comment sobmaz. I personally would think I’m doing better than 10 years ago if my asset is 7x and $600k larger than it was 10 years ago. I wonder who else feel they’re not doing better than 10 years ago while sitting on an asset that’s 7x larger.

[/quote]

Yes!!! We have significantly more money (over 10X) today than 10 years ago, but also feel less comfortable about our finances.

Back then, we were looking at fairly regular raises, and no layoffs or wage/benefit cuts on the horizon. Back then, we didn’t have to fear the Federal Reserve’s determination to destroy our currency and wipe out all of our wealth. Back then, our friends and neighbors were fully employed, and most were looking forward to making more in the coming years…today, many of those people are unemployed, or under-employed, with some making less than they were 10 years ago, with much less job security to boot. Back then, healthcare costs were high, but nowhere near as high as they are today, which can destroy anyone who is unemployed or without insurance. God forbid you lose your job in your 50s (unlikely to find a new, comparable job at that age, and in this economy), and you have to make it another 5-10 years before you qualify for Medicare. That’s absolutely frightening, because it can wipe you out, even if you have a few hundred thousand in cash…and then what?

I don’t know a single person, personally, who feels better about the economy today than 10 years ago. Not one.

[CA renter]

[quote=AN]Interesting comment sobmaz. I personally would think I’m doing better than 10 years ago if my asset is 7x and $600k larger than it was 10 years ago. I wonder who else feel they’re not doing better than 10 years ago while sitting on an asset that’s 7x larger.

[/quote]

Yes!!! We have significantly more money (over 10X) today than 10 years ago, but also feel less comfortable about our finances.

Back then, we were looking at fairly regular raises, and no layoffs or wage/benefit cuts on the horizon. Back then, we didn’t have to fear the Federal Reserve’s determination to destroy our currency and wipe out all of our wealth. Back then, our friends and neighbors were fully employed, and most were looking forward to making more in the coming years…today, many of those people are unemployed, or under-employed, with some making less than they were 10 years ago, with much less job security to boot. Back then, healthcare costs were high, but nowhere near as high as they are today, which can destroy anyone who is unemployed or without insurance. God forbid you lose your job in your 50s (unlikely to find a new, comparable job at that age, and in this economy), and you have to make it another 5-10 years before you qualify for Medicare. That’s absolutely frightening, because it can wipe you out, even if you have a few hundred thousand in cash…and then what?

I don’t know a single person, personally, who feels better about the economy today than 10 years ago. Not one.

[Author]

Posts