Distribution of Wealth in SD County

[svelte]

Yeeeeee HA!

I’m RICH! RICH I tell ya!

So…how come I’m still takin’ what their givin’ cuz I’m workin’ for a livin’?

[an]

bearishgurl, I also looked over your description of 92121. FYI, I know this area very well. I used to live in 92121. Lot size for these houses are mostly around 5000-7000 sq-ft w/ a few canyon view lot that have a bigger backyard, but none of them get much bigger than 1/4 acre. They are all built in the mid to late 90s. 92121 goes to 92126 schools. Which I hope you know that when you mention it has decent schools. There’s a couple condo complex near UCSD, but those are old and is on the very edge of 92121. The main townhouse complex in 92121 is called Wateridge and it’s surrounded by tech companies (mainly QCOM).

As I stated, houses in 92121 goes from 550k (1500 sq-ft single story) to ~$700k (2893 sq-ft 2 stories). If you look at comparable size, age, and lot size in 92129, you’ll find that 92129 will fetch about 5% more than 92121.

If you refer to the Shaw Lopez Row listings that are currently active as a reason why 92121 is better than 92129, then you should know that those 3 houses are custom built. That land has been empty for a few decades. Instead of building houses that fit the area, it seems like this builder decide to go all out. We’ll see if anyone will buy it at $3.5M. I highly doubt it, but I could be wrong.

I personally would put 92121 below comparable places in 92129. Talking about CLOSED listings in 92129, here’s one: http://www.sdlookup.com/MLS-100017243-8411_Watson_Ranch_St_San_Diego_CA_92129. Closed at 895k. If you take a conservative lending practice, one would have to make around $300k HH to afford this place comfortably. That’s deep in your upper MC range. How about this one: http://www.sdlookup.com/MLS-100010307-12029_Least_Tern_Ct_San_Diego_CA_92129. Closed for $760k for a 2384 sq-ft house. To comfortably afford this house, you’d need to make around $250k. Once again, that’s deep in your upper MC range. There are many more CLOSED listing like these, but I’m sure you get the point now. How many 2300 sq-ft house in 91910 w/ only 7500 sq-ft NO-view lot can fetch $760k?

[an]

bearishgurl, I also looked over your description of 92121. FYI, I know this area very well. I used to live in 92121. Lot size for these houses are mostly around 5000-7000 sq-ft w/ a few canyon view lot that have a bigger backyard, but none of them get much bigger than 1/4 acre. They are all built in the mid to late 90s. 92121 goes to 92126 schools. Which I hope you know that when you mention it has decent schools. There’s a couple condo complex near UCSD, but those are old and is on the very edge of 92121. The main townhouse complex in 92121 is called Wateridge and it’s surrounded by tech companies (mainly QCOM).

As I stated, houses in 92121 goes from 550k (1500 sq-ft single story) to ~$700k (2893 sq-ft 2 stories). If you look at comparable size, age, and lot size in 92129, you’ll find that 92129 will fetch about 5% more than 92121.

If you refer to the Shaw Lopez Row listings that are currently active as a reason why 92121 is better than 92129, then you should know that those 3 houses are custom built. That land has been empty for a few decades. Instead of building houses that fit the area, it seems like this builder decide to go all out. We’ll see if anyone will buy it at $3.5M. I highly doubt it, but I could be wrong.

I personally would put 92121 below comparable places in 92129. Talking about CLOSED listings in 92129, here’s one: http://www.sdlookup.com/MLS-100017243-8411_Watson_Ranch_St_San_Diego_CA_92129. Closed at 895k. If you take a conservative lending practice, one would have to make around $300k HH to afford this place comfortably. That’s deep in your upper MC range. How about this one: http://www.sdlookup.com/MLS-100010307-12029_Least_Tern_Ct_San_Diego_CA_92129. Closed for $760k for a 2384 sq-ft house. To comfortably afford this house, you’d need to make around $250k. Once again, that’s deep in your upper MC range. There are many more CLOSED listing like these, but I’m sure you get the point now. How many 2300 sq-ft house in 91910 w/ only 7500 sq-ft NO-view lot can fetch $760k?

[an]

bearishgurl, I also looked over your description of 92121. FYI, I know this area very well. I used to live in 92121. Lot size for these houses are mostly around 5000-7000 sq-ft w/ a few canyon view lot that have a bigger backyard, but none of them get much bigger than 1/4 acre. They are all built in the mid to late 90s. 92121 goes to 92126 schools. Which I hope you know that when you mention it has decent schools. There’s a couple condo complex near UCSD, but those are old and is on the very edge of 92121. The main townhouse complex in 92121 is called Wateridge and it’s surrounded by tech companies (mainly QCOM).

As I stated, houses in 92121 goes from 550k (1500 sq-ft single story) to ~$700k (2893 sq-ft 2 stories). If you look at comparable size, age, and lot size in 92129, you’ll find that 92129 will fetch about 5% more than 92121.

If you refer to the Shaw Lopez Row listings that are currently active as a reason why 92121 is better than 92129, then you should know that those 3 houses are custom built. That land has been empty for a few decades. Instead of building houses that fit the area, it seems like this builder decide to go all out. We’ll see if anyone will buy it at $3.5M. I highly doubt it, but I could be wrong.

I personally would put 92121 below comparable places in 92129. Talking about CLOSED listings in 92129, here’s one: http://www.sdlookup.com/MLS-100017243-8411_Watson_Ranch_St_San_Diego_CA_92129. Closed at 895k. If you take a conservative lending practice, one would have to make around $300k HH to afford this place comfortably. That’s deep in your upper MC range. How about this one: http://www.sdlookup.com/MLS-100010307-12029_Least_Tern_Ct_San_Diego_CA_92129. Closed for $760k for a 2384 sq-ft house. To comfortably afford this house, you’d need to make around $250k. Once again, that’s deep in your upper MC range. There are many more CLOSED listing like these, but I’m sure you get the point now. How many 2300 sq-ft house in 91910 w/ only 7500 sq-ft NO-view lot can fetch $760k?

[an]

bearishgurl, I also looked over your description of 92121. FYI, I know this area very well. I used to live in 92121. Lot size for these houses are mostly around 5000-7000 sq-ft w/ a few canyon view lot that have a bigger backyard, but none of them get much bigger than 1/4 acre. They are all built in the mid to late 90s. 92121 goes to 92126 schools. Which I hope you know that when you mention it has decent schools. There’s a couple condo complex near UCSD, but those are old and is on the very edge of 92121. The main townhouse complex in 92121 is called Wateridge and it’s surrounded by tech companies (mainly QCOM).

As I stated, houses in 92121 goes from 550k (1500 sq-ft single story) to ~$700k (2893 sq-ft 2 stories). If you look at comparable size, age, and lot size in 92129, you’ll find that 92129 will fetch about 5% more than 92121.

If you refer to the Shaw Lopez Row listings that are currently active as a reason why 92121 is better than 92129, then you should know that those 3 houses are custom built. That land has been empty for a few decades. Instead of building houses that fit the area, it seems like this builder decide to go all out. We’ll see if anyone will buy it at $3.5M. I highly doubt it, but I could be wrong.

I personally would put 92121 below comparable places in 92129. Talking about CLOSED listings in 92129, here’s one: http://www.sdlookup.com/MLS-100017243-8411_Watson_Ranch_St_San_Diego_CA_92129. Closed at 895k. If you take a conservative lending practice, one would have to make around $300k HH to afford this place comfortably. That’s deep in your upper MC range. How about this one: http://www.sdlookup.com/MLS-100010307-12029_Least_Tern_Ct_San_Diego_CA_92129. Closed for $760k for a 2384 sq-ft house. To comfortably afford this house, you’d need to make around $250k. Once again, that’s deep in your upper MC range. There are many more CLOSED listing like these, but I’m sure you get the point now. How many 2300 sq-ft house in 91910 w/ only 7500 sq-ft NO-view lot can fetch $760k?

[an]

bearishgurl, I also looked over your description of 92121. FYI, I know this area very well. I used to live in 92121. Lot size for these houses are mostly around 5000-7000 sq-ft w/ a few canyon view lot that have a bigger backyard, but none of them get much bigger than 1/4 acre. They are all built in the mid to late 90s. 92121 goes to 92126 schools. Which I hope you know that when you mention it has decent schools. There’s a couple condo complex near UCSD, but those are old and is on the very edge of 92121. The main townhouse complex in 92121 is called Wateridge and it’s surrounded by tech companies (mainly QCOM).

As I stated, houses in 92121 goes from 550k (1500 sq-ft single story) to ~$700k (2893 sq-ft 2 stories). If you look at comparable size, age, and lot size in 92129, you’ll find that 92129 will fetch about 5% more than 92121.

If you refer to the Shaw Lopez Row listings that are currently active as a reason why 92121 is better than 92129, then you should know that those 3 houses are custom built. That land has been empty for a few decades. Instead of building houses that fit the area, it seems like this builder decide to go all out. We’ll see if anyone will buy it at $3.5M. I highly doubt it, but I could be wrong.

I personally would put 92121 below comparable places in 92129. Talking about CLOSED listings in 92129, here’s one: http://www.sdlookup.com/MLS-100017243-8411_Watson_Ranch_St_San_Diego_CA_92129. Closed at 895k. If you take a conservative lending practice, one would have to make around $300k HH to afford this place comfortably. That’s deep in your upper MC range. How about this one: http://www.sdlookup.com/MLS-100010307-12029_Least_Tern_Ct_San_Diego_CA_92129. Closed for $760k for a 2384 sq-ft house. To comfortably afford this house, you’d need to make around $250k. Once again, that’s deep in your upper MC range. There are many more CLOSED listing like these, but I’m sure you get the point now. How many 2300 sq-ft house in 91910 w/ only 7500 sq-ft NO-view lot can fetch $760k?

[DWCAP]

[quote=UCGal][quote=bearishgurl]
Household incomes in SD County:

$00 to 45K = low income
$45K to 100K = lower MC income
$100K to 200K = MC income
$200K to 350K = upper MC income
wealth = non RE and non-retirement assets of $1.5M or more
[/quote]

[quote=UCGal]
That translates (approximately) to
lower class = low 60’s or less
lower middle = low 70’s or less
middle = 100k or less
upper middle = mid 130’s or less
upper class = above 130k.
[/quote]

[quote=AN]I see the break down a little differently.

bottom 40% (below $45k) = lower class
40-60% (45-70k) = lower middle class
60-90% (70-130k) = middle class
90-99% (130-???) = upper middle class
top 1% = rich/wealthy[/quote]

I just wanted to put the three breakdowns next to each other. I can go with AN’s breakdown even if it puts very few folks in upper middle class (compared to the number in lower middle class.)[/quote]

wow, I(HH) am solidly Middle Class according to Bearishgurl, squeeking into Upper class according to UCgal, and upper middle class according to AN.

Maybe part of the problem here is that we all have different definitions of what ‘middle class’ is. I sure as hell dont feel upper class to upper middle. Maybe I am the one who needs to re-define my class structure. I need to take a look at that breakdown UCGal posted. Apparently I am well into the top 10%, and my household average age is only 29. Gotta think about this.

Maybe the other three could tell me how they define the different distinctions? What is ‘middle class’?

[DWCAP]

[quote=UCGal][quote=bearishgurl]
Household incomes in SD County:

$00 to 45K = low income
$45K to 100K = lower MC income
$100K to 200K = MC income
$200K to 350K = upper MC income
wealth = non RE and non-retirement assets of $1.5M or more
[/quote]

[quote=UCGal]
That translates (approximately) to
lower class = low 60’s or less
lower middle = low 70’s or less
middle = 100k or less
upper middle = mid 130’s or less
upper class = above 130k.
[/quote]

[quote=AN]I see the break down a little differently.

bottom 40% (below $45k) = lower class
40-60% (45-70k) = lower middle class
60-90% (70-130k) = middle class
90-99% (130-???) = upper middle class
top 1% = rich/wealthy[/quote]

I just wanted to put the three breakdowns next to each other. I can go with AN’s breakdown even if it puts very few folks in upper middle class (compared to the number in lower middle class.)[/quote]

wow, I(HH) am solidly Middle Class according to Bearishgurl, squeeking into Upper class according to UCgal, and upper middle class according to AN.

Maybe part of the problem here is that we all have different definitions of what ‘middle class’ is. I sure as hell dont feel upper class to upper middle. Maybe I am the one who needs to re-define my class structure. I need to take a look at that breakdown UCGal posted. Apparently I am well into the top 10%, and my household average age is only 29. Gotta think about this.

Maybe the other three could tell me how they define the different distinctions? What is ‘middle class’?

[DWCAP]

[quote=UCGal][quote=bearishgurl]
Household incomes in SD County:

$00 to 45K = low income
$45K to 100K = lower MC income
$100K to 200K = MC income
$200K to 350K = upper MC income
wealth = non RE and non-retirement assets of $1.5M or more
[/quote]

[quote=UCGal]
That translates (approximately) to
lower class = low 60’s or less
lower middle = low 70’s or less
middle = 100k or less
upper middle = mid 130’s or less
upper class = above 130k.
[/quote]

[quote=AN]I see the break down a little differently.

bottom 40% (below $45k) = lower class
40-60% (45-70k) = lower middle class
60-90% (70-130k) = middle class
90-99% (130-???) = upper middle class
top 1% = rich/wealthy[/quote]

I just wanted to put the three breakdowns next to each other. I can go with AN’s breakdown even if it puts very few folks in upper middle class (compared to the number in lower middle class.)[/quote]

wow, I(HH) am solidly Middle Class according to Bearishgurl, squeeking into Upper class according to UCgal, and upper middle class according to AN.

Maybe part of the problem here is that we all have different definitions of what ‘middle class’ is. I sure as hell dont feel upper class to upper middle. Maybe I am the one who needs to re-define my class structure. I need to take a look at that breakdown UCGal posted. Apparently I am well into the top 10%, and my household average age is only 29. Gotta think about this.

Maybe the other three could tell me how they define the different distinctions? What is ‘middle class’?

[DWCAP]

[quote=UCGal][quote=bearishgurl]
Household incomes in SD County:

$00 to 45K = low income
$45K to 100K = lower MC income
$100K to 200K = MC income
$200K to 350K = upper MC income
wealth = non RE and non-retirement assets of $1.5M or more
[/quote]

[quote=UCGal]
That translates (approximately) to
lower class = low 60’s or less
lower middle = low 70’s or less
middle = 100k or less
upper middle = mid 130’s or less
upper class = above 130k.
[/quote]

[quote=AN]I see the break down a little differently.

bottom 40% (below $45k) = lower class
40-60% (45-70k) = lower middle class
60-90% (70-130k) = middle class
90-99% (130-???) = upper middle class
top 1% = rich/wealthy[/quote]

I just wanted to put the three breakdowns next to each other. I can go with AN’s breakdown even if it puts very few folks in upper middle class (compared to the number in lower middle class.)[/quote]

wow, I(HH) am solidly Middle Class according to Bearishgurl, squeeking into Upper class according to UCgal, and upper middle class according to AN.

Maybe part of the problem here is that we all have different definitions of what ‘middle class’ is. I sure as hell dont feel upper class to upper middle. Maybe I am the one who needs to re-define my class structure. I need to take a look at that breakdown UCGal posted. Apparently I am well into the top 10%, and my household average age is only 29. Gotta think about this.

Maybe the other three could tell me how they define the different distinctions? What is ‘middle class’?

[DWCAP]

[quote=UCGal][quote=bearishgurl]
Household incomes in SD County:

$00 to 45K = low income
$45K to 100K = lower MC income
$100K to 200K = MC income
$200K to 350K = upper MC income
wealth = non RE and non-retirement assets of $1.5M or more
[/quote]

[quote=UCGal]
That translates (approximately) to
lower class = low 60’s or less
lower middle = low 70’s or less
middle = 100k or less
upper middle = mid 130’s or less
upper class = above 130k.
[/quote]

[quote=AN]I see the break down a little differently.

bottom 40% (below $45k) = lower class
40-60% (45-70k) = lower middle class
60-90% (70-130k) = middle class
90-99% (130-???) = upper middle class
top 1% = rich/wealthy[/quote]

I just wanted to put the three breakdowns next to each other. I can go with AN’s breakdown even if it puts very few folks in upper middle class (compared to the number in lower middle class.)[/quote]

wow, I(HH) am solidly Middle Class according to Bearishgurl, squeeking into Upper class according to UCgal, and upper middle class according to AN.

Maybe part of the problem here is that we all have different definitions of what ‘middle class’ is. I sure as hell dont feel upper class to upper middle. Maybe I am the one who needs to re-define my class structure. I need to take a look at that breakdown UCGal posted. Apparently I am well into the top 10%, and my household average age is only 29. Gotta think about this.

Maybe the other three could tell me how they define the different distinctions? What is ‘middle class’?

[UCGal]

[quote=DWCAP]
Maybe the other three could tell me how they define the different distinctions? What is ‘middle class’?[/quote]

This is an interesting question… one I’ve been googling (during code build times) over the course of the day.

Polls taken show that more than 90% of people put themselves in the middle class. Only 2% define themselves as upper class. So – pretty much everyone not on public assistance considers themselves middle class. People at the poverty line call themselves middle class.

And I guess another issue is the term “class”… there are some definitions of middle class that have less to do with income and more with education/job type…

One of the definitions I saw was something like this:
* working class – less educated working people. Could have high income (talk to your mechanic or plumber!) AKA blue collar workers.

* middle class – educated working people. AKA white collar workers.

* upper class – those who don’t have to work for a living.

But the original post phrased it in terms of income… and since that’s data I can look up, I did just that.

I know, growing up, my engineer dad and stay at home mom (till I was in jr high) considered themselves upper middle class. We didn’t have luxuries – but my dad was a saver – so he probably could have afforded them – but chose not to in order to save for retirement.

I had an eye opening when I got my first job at an insurance company – women who were less educated, who’s minimum wage income was absolutely needed to support their family. (A lot of military spouses). I saw the struggle to make the rent for their family. It made me appreciate growing up free from that stress.

Today – I’d put myself in upper middle class. 2 years ago (better economy, better income) we were upper class by my definition above… not so much this past year or current but we’re still upper middle.

We do not have the end of the paycheck stress. You know the panic, when you pay the bills trying to figure out which one to pay late because there’s not enough paycheck to cover the expenses. We have enough money to save for retirement. Part of this is because we’re frugal (cheap!)… kids clothes are hand me downs or come from target – not Gymbo or Gap… We have a nice house we can comfortably afford, but not a McMansion. My husbands truck is 15 years old, mine is 5 years old, both are paid for and will be driven till they fall apart. The kids don’t get every toy they ask for (or even 1/10th). We don’t have hired help (no garden service, maid service, etc.) But we are without financial stress and can make our bills and save. That’s why I’m comfortable saying we’re upper middle class.

[UCGal]

[quote=DWCAP]
Maybe the other three could tell me how they define the different distinctions? What is ‘middle class’?[/quote]

This is an interesting question… one I’ve been googling (during code build times) over the course of the day.

Polls taken show that more than 90% of people put themselves in the middle class. Only 2% define themselves as upper class. So – pretty much everyone not on public assistance considers themselves middle class. People at the poverty line call themselves middle class.

And I guess another issue is the term “class”… there are some definitions of middle class that have less to do with income and more with education/job type…

One of the definitions I saw was something like this:
* working class – less educated working people. Could have high income (talk to your mechanic or plumber!) AKA blue collar workers.

* middle class – educated working people. AKA white collar workers.

* upper class – those who don’t have to work for a living.

But the original post phrased it in terms of income… and since that’s data I can look up, I did just that.

I know, growing up, my engineer dad and stay at home mom (till I was in jr high) considered themselves upper middle class. We didn’t have luxuries – but my dad was a saver – so he probably could have afforded them – but chose not to in order to save for retirement.

I had an eye opening when I got my first job at an insurance company – women who were less educated, who’s minimum wage income was absolutely needed to support their family. (A lot of military spouses). I saw the struggle to make the rent for their family. It made me appreciate growing up free from that stress.

Today – I’d put myself in upper middle class. 2 years ago (better economy, better income) we were upper class by my definition above… not so much this past year or current but we’re still upper middle.

We do not have the end of the paycheck stress. You know the panic, when you pay the bills trying to figure out which one to pay late because there’s not enough paycheck to cover the expenses. We have enough money to save for retirement. Part of this is because we’re frugal (cheap!)… kids clothes are hand me downs or come from target – not Gymbo or Gap… We have a nice house we can comfortably afford, but not a McMansion. My husbands truck is 15 years old, mine is 5 years old, both are paid for and will be driven till they fall apart. The kids don’t get every toy they ask for (or even 1/10th). We don’t have hired help (no garden service, maid service, etc.) But we are without financial stress and can make our bills and save. That’s why I’m comfortable saying we’re upper middle class.

[UCGal]

[quote=DWCAP]
Maybe the other three could tell me how they define the different distinctions? What is ‘middle class’?[/quote]

This is an interesting question… one I’ve been googling (during code build times) over the course of the day.

Polls taken show that more than 90% of people put themselves in the middle class. Only 2% define themselves as upper class. So – pretty much everyone not on public assistance considers themselves middle class. People at the poverty line call themselves middle class.

And I guess another issue is the term “class”… there are some definitions of middle class that have less to do with income and more with education/job type…

One of the definitions I saw was something like this:
* working class – less educated working people. Could have high income (talk to your mechanic or plumber!) AKA blue collar workers.

* middle class – educated working people. AKA white collar workers.

* upper class – those who don’t have to work for a living.

But the original post phrased it in terms of income… and since that’s data I can look up, I did just that.

I know, growing up, my engineer dad and stay at home mom (till I was in jr high) considered themselves upper middle class. We didn’t have luxuries – but my dad was a saver – so he probably could have afforded them – but chose not to in order to save for retirement.

I had an eye opening when I got my first job at an insurance company – women who were less educated, who’s minimum wage income was absolutely needed to support their family. (A lot of military spouses). I saw the struggle to make the rent for their family. It made me appreciate growing up free from that stress.

Today – I’d put myself in upper middle class. 2 years ago (better economy, better income) we were upper class by my definition above… not so much this past year or current but we’re still upper middle.

We do not have the end of the paycheck stress. You know the panic, when you pay the bills trying to figure out which one to pay late because there’s not enough paycheck to cover the expenses. We have enough money to save for retirement. Part of this is because we’re frugal (cheap!)… kids clothes are hand me downs or come from target – not Gymbo or Gap… We have a nice house we can comfortably afford, but not a McMansion. My husbands truck is 15 years old, mine is 5 years old, both are paid for and will be driven till they fall apart. The kids don’t get every toy they ask for (or even 1/10th). We don’t have hired help (no garden service, maid service, etc.) But we are without financial stress and can make our bills and save. That’s why I’m comfortable saying we’re upper middle class.

[UCGal]

[quote=DWCAP]
Maybe the other three could tell me how they define the different distinctions? What is ‘middle class’?[/quote]

This is an interesting question… one I’ve been googling (during code build times) over the course of the day.

Polls taken show that more than 90% of people put themselves in the middle class. Only 2% define themselves as upper class. So – pretty much everyone not on public assistance considers themselves middle class. People at the poverty line call themselves middle class.

And I guess another issue is the term “class”… there are some definitions of middle class that have less to do with income and more with education/job type…

One of the definitions I saw was something like this:
* working class – less educated working people. Could have high income (talk to your mechanic or plumber!) AKA blue collar workers.

* middle class – educated working people. AKA white collar workers.

* upper class – those who don’t have to work for a living.

But the original post phrased it in terms of income… and since that’s data I can look up, I did just that.

I know, growing up, my engineer dad and stay at home mom (till I was in jr high) considered themselves upper middle class. We didn’t have luxuries – but my dad was a saver – so he probably could have afforded them – but chose not to in order to save for retirement.

I had an eye opening when I got my first job at an insurance company – women who were less educated, who’s minimum wage income was absolutely needed to support their family. (A lot of military spouses). I saw the struggle to make the rent for their family. It made me appreciate growing up free from that stress.

Today – I’d put myself in upper middle class. 2 years ago (better economy, better income) we were upper class by my definition above… not so much this past year or current but we’re still upper middle.

We do not have the end of the paycheck stress. You know the panic, when you pay the bills trying to figure out which one to pay late because there’s not enough paycheck to cover the expenses. We have enough money to save for retirement. Part of this is because we’re frugal (cheap!)… kids clothes are hand me downs or come from target – not Gymbo or Gap… We have a nice house we can comfortably afford, but not a McMansion. My husbands truck is 15 years old, mine is 5 years old, both are paid for and will be driven till they fall apart. The kids don’t get every toy they ask for (or even 1/10th). We don’t have hired help (no garden service, maid service, etc.) But we are without financial stress and can make our bills and save. That’s why I’m comfortable saying we’re upper middle class.

[Author]

Posts