Biggest Defaulters on Mortgages Are the Rich

[poorgradstudent]

I got into it with someone else on a different thread, but if you’re in the top quintile of income, you are “rich”. If you are in the top 1%, have net assets of $1m+, you are “super rich”. In 2004 to be “rich” a household needed about $88k per year, nationally. From what I could find about San Diego, it’s probably comparable, perhaps a few thousand higher. With inflation I’d be willing to grant it’s probably close to $100k/year in San Diego to be “rich”.

One HUGE problem in this country is those of means tend to think of themselves in the middle, focusing more on the very few who make more than them than the huge numbers who make less.

[meadandale]

Making $100k in San Diego (or pretty much anywhere in southern california) does not qualify as ‘rich’. Maybe to you…but I’d be willing to bet that your opinion would change if that was your income and you weren’t a ‘poor grad student’.

It’s easy to see the grass as greener on the other side; “if I was only making $100k I’d be living the easy life.” Riiiigghhhtt.

Talk to most people making this much and they will tell you that they are still shopping at WalMart and Old Navy and eating at Sizzler. I know that I am.

[meadandale]

Making $100k in San Diego (or pretty much anywhere in southern california) does not qualify as ‘rich’. Maybe to you…but I’d be willing to bet that your opinion would change if that was your income and you weren’t a ‘poor grad student’.

It’s easy to see the grass as greener on the other side; “if I was only making $100k I’d be living the easy life.” Riiiigghhhtt.

Talk to most people making this much and they will tell you that they are still shopping at WalMart and Old Navy and eating at Sizzler. I know that I am.

[meadandale]

Making $100k in San Diego (or pretty much anywhere in southern california) does not qualify as ‘rich’. Maybe to you…but I’d be willing to bet that your opinion would change if that was your income and you weren’t a ‘poor grad student’.

It’s easy to see the grass as greener on the other side; “if I was only making $100k I’d be living the easy life.” Riiiigghhhtt.

Talk to most people making this much and they will tell you that they are still shopping at WalMart and Old Navy and eating at Sizzler. I know that I am.

[meadandale]

Making $100k in San Diego (or pretty much anywhere in southern california) does not qualify as ‘rich’. Maybe to you…but I’d be willing to bet that your opinion would change if that was your income and you weren’t a ‘poor grad student’.

It’s easy to see the grass as greener on the other side; “if I was only making $100k I’d be living the easy life.” Riiiigghhhtt.

Talk to most people making this much and they will tell you that they are still shopping at WalMart and Old Navy and eating at Sizzler. I know that I am.

[meadandale]

Making $100k in San Diego (or pretty much anywhere in southern california) does not qualify as ‘rich’. Maybe to you…but I’d be willing to bet that your opinion would change if that was your income and you weren’t a ‘poor grad student’.

It’s easy to see the grass as greener on the other side; “if I was only making $100k I’d be living the easy life.” Riiiigghhhtt.

Talk to most people making this much and they will tell you that they are still shopping at WalMart and Old Navy and eating at Sizzler. I know that I am.

[fun4vnay2]

I make way more than $100K but always shop in walmart and other cheapos and still can’t afford decent house

Am I rich ?

[fun4vnay2]

I make way more than $100K but always shop in walmart and other cheapos and still can’t afford decent house

Am I rich ?

[fun4vnay2]

I make way more than $100K but always shop in walmart and other cheapos and still can’t afford decent house

Am I rich ?

[fun4vnay2]

I make way more than $100K but always shop in walmart and other cheapos and still can’t afford decent house

Am I rich ?

[fun4vnay2]

I make way more than $100K but always shop in walmart and other cheapos and still can’t afford decent house

Am I rich ?

[scaredyclassic]

125k. basically a wage slave with student debt, kids, etc. even without a mortgage…

[scaredyclassic]

125k. basically a wage slave with student debt, kids, etc. even without a mortgage…

[scaredyclassic]

125k. basically a wage slave with student debt, kids, etc. even without a mortgage…

[scaredyclassic]

125k. basically a wage slave with student debt, kids, etc. even without a mortgage…

[Author]

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