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poorgradstudent
ParticipantTrying to time the bottom perfectly is a difficult game. While there is a national and regional real estate market, the market for certain neighborhoods and streets can very a bit from overall trends. An individual property might be priced to sell to the point it’s still a good value.
Homes also do have some subjective value. If a home is ideal for your family’s needs and you would be really happy living there, AND you can afford it, it might not make sense to hold out hoping for a better deal. No place will be absolutely perfect in all ways.
I guess the other important thing to keep in mind is we’re not going to see another 40-50% drop like from the September ’05 bubble peak. A 5% dip in the next year could be made up a lot faster than homes bought in ’05 that likely won’t break even for a decade.
ParticipantTrying to time the bottom perfectly is a difficult game. While there is a national and regional real estate market, the market for certain neighborhoods and streets can very a bit from overall trends. An individual property might be priced to sell to the point it’s still a good value.
Homes also do have some subjective value. If a home is ideal for your family’s needs and you would be really happy living there, AND you can afford it, it might not make sense to hold out hoping for a better deal. No place will be absolutely perfect in all ways.
I guess the other important thing to keep in mind is we’re not going to see another 40-50% drop like from the September ’05 bubble peak. A 5% dip in the next year could be made up a lot faster than homes bought in ’05 that likely won’t break even for a decade.
ParticipantWasn’t Obama supposed to pull us out of Iraq? That would save us a lot of $$$$.
I like the guy, but just sayin’, we need to start pulling out of Iraq along with closing old bases in Germany and other places in Europe. “Obamacare” is a drop in the bucket compared to those kinds of potential savings!
ParticipantWasn’t Obama supposed to pull us out of Iraq? That would save us a lot of $$$$.
I like the guy, but just sayin’, we need to start pulling out of Iraq along with closing old bases in Germany and other places in Europe. “Obamacare” is a drop in the bucket compared to those kinds of potential savings!
ParticipantWasn’t Obama supposed to pull us out of Iraq? That would save us a lot of $$$$.
I like the guy, but just sayin’, we need to start pulling out of Iraq along with closing old bases in Germany and other places in Europe. “Obamacare” is a drop in the bucket compared to those kinds of potential savings!
ParticipantWasn’t Obama supposed to pull us out of Iraq? That would save us a lot of $$$$.
I like the guy, but just sayin’, we need to start pulling out of Iraq along with closing old bases in Germany and other places in Europe. “Obamacare” is a drop in the bucket compared to those kinds of potential savings!
ParticipantWasn’t Obama supposed to pull us out of Iraq? That would save us a lot of $$$$.
I like the guy, but just sayin’, we need to start pulling out of Iraq along with closing old bases in Germany and other places in Europe. “Obamacare” is a drop in the bucket compared to those kinds of potential savings!
ParticipantIt’s often more useful to lump incomes by quintile rather than trying to fit people into “classes”. Class is actually a British holdover that doesn’t translate as well to America. An artist who makes ~50k a year there or a college professor who makes ~80k could be “upper class”, while many people in sales who make much more money than that would be middle class thanks to their more gaudy and bougey tastes. Britney Spears and Tony Soprano aren’t upper class, they’re a trailer park girl and working class stiff with money, respectively.
By Quintile, household income for San Diego (2008):
0-20%: ~25k/year
21-40%: ~25-50k/year
41-60%: ~50-80k/year
61-80%: ~80-125k/year
Top 20%: >$125k/yearFor bearishgurl, at least 60% of San Diego households are below middle class. AN’s breakdown puts the median in lower middle class territory. Perhaps the middle class really is shrinking that much, but for me the middle really should be “the middle”.
I have a hard time with any lumping that doesn’t put the 50% point in “middle class”. Because there is such a huge gap between the ultra-rich and the rich, the rich don’t tend to think of themselves as such. At the same time the truly poor tend to be invisible to most of us.
There is of course a difference between income and wealth. I know a medical doctor in his early 30s who probably makes over $200k a year, but whose family net worth is currently negative thanks to student loans, their lifestyle, and being underwater on his mortgage. I also know a guy who inherited a bunch of houses from his parents whose net worth is probably pushing $2m, but probably nets less than $100k/year. Neither probably thinks of himself as “rich”, yet compared to most people, both are.
ParticipantIt’s often more useful to lump incomes by quintile rather than trying to fit people into “classes”. Class is actually a British holdover that doesn’t translate as well to America. An artist who makes ~50k a year there or a college professor who makes ~80k could be “upper class”, while many people in sales who make much more money than that would be middle class thanks to their more gaudy and bougey tastes. Britney Spears and Tony Soprano aren’t upper class, they’re a trailer park girl and working class stiff with money, respectively.
By Quintile, household income for San Diego (2008):
0-20%: ~25k/year
21-40%: ~25-50k/year
41-60%: ~50-80k/year
61-80%: ~80-125k/year
Top 20%: >$125k/yearFor bearishgurl, at least 60% of San Diego households are below middle class. AN’s breakdown puts the median in lower middle class territory. Perhaps the middle class really is shrinking that much, but for me the middle really should be “the middle”.
I have a hard time with any lumping that doesn’t put the 50% point in “middle class”. Because there is such a huge gap between the ultra-rich and the rich, the rich don’t tend to think of themselves as such. At the same time the truly poor tend to be invisible to most of us.
There is of course a difference between income and wealth. I know a medical doctor in his early 30s who probably makes over $200k a year, but whose family net worth is currently negative thanks to student loans, their lifestyle, and being underwater on his mortgage. I also know a guy who inherited a bunch of houses from his parents whose net worth is probably pushing $2m, but probably nets less than $100k/year. Neither probably thinks of himself as “rich”, yet compared to most people, both are.
ParticipantIt’s often more useful to lump incomes by quintile rather than trying to fit people into “classes”. Class is actually a British holdover that doesn’t translate as well to America. An artist who makes ~50k a year there or a college professor who makes ~80k could be “upper class”, while many people in sales who make much more money than that would be middle class thanks to their more gaudy and bougey tastes. Britney Spears and Tony Soprano aren’t upper class, they’re a trailer park girl and working class stiff with money, respectively.
By Quintile, household income for San Diego (2008):
0-20%: ~25k/year
21-40%: ~25-50k/year
41-60%: ~50-80k/year
61-80%: ~80-125k/year
Top 20%: >$125k/yearFor bearishgurl, at least 60% of San Diego households are below middle class. AN’s breakdown puts the median in lower middle class territory. Perhaps the middle class really is shrinking that much, but for me the middle really should be “the middle”.
I have a hard time with any lumping that doesn’t put the 50% point in “middle class”. Because there is such a huge gap between the ultra-rich and the rich, the rich don’t tend to think of themselves as such. At the same time the truly poor tend to be invisible to most of us.
There is of course a difference between income and wealth. I know a medical doctor in his early 30s who probably makes over $200k a year, but whose family net worth is currently negative thanks to student loans, their lifestyle, and being underwater on his mortgage. I also know a guy who inherited a bunch of houses from his parents whose net worth is probably pushing $2m, but probably nets less than $100k/year. Neither probably thinks of himself as “rich”, yet compared to most people, both are.
ParticipantIt’s often more useful to lump incomes by quintile rather than trying to fit people into “classes”. Class is actually a British holdover that doesn’t translate as well to America. An artist who makes ~50k a year there or a college professor who makes ~80k could be “upper class”, while many people in sales who make much more money than that would be middle class thanks to their more gaudy and bougey tastes. Britney Spears and Tony Soprano aren’t upper class, they’re a trailer park girl and working class stiff with money, respectively.
By Quintile, household income for San Diego (2008):
0-20%: ~25k/year
21-40%: ~25-50k/year
41-60%: ~50-80k/year
61-80%: ~80-125k/year
Top 20%: >$125k/yearFor bearishgurl, at least 60% of San Diego households are below middle class. AN’s breakdown puts the median in lower middle class territory. Perhaps the middle class really is shrinking that much, but for me the middle really should be “the middle”.
I have a hard time with any lumping that doesn’t put the 50% point in “middle class”. Because there is such a huge gap between the ultra-rich and the rich, the rich don’t tend to think of themselves as such. At the same time the truly poor tend to be invisible to most of us.
There is of course a difference between income and wealth. I know a medical doctor in his early 30s who probably makes over $200k a year, but whose family net worth is currently negative thanks to student loans, their lifestyle, and being underwater on his mortgage. I also know a guy who inherited a bunch of houses from his parents whose net worth is probably pushing $2m, but probably nets less than $100k/year. Neither probably thinks of himself as “rich”, yet compared to most people, both are.
ParticipantIt’s often more useful to lump incomes by quintile rather than trying to fit people into “classes”. Class is actually a British holdover that doesn’t translate as well to America. An artist who makes ~50k a year there or a college professor who makes ~80k could be “upper class”, while many people in sales who make much more money than that would be middle class thanks to their more gaudy and bougey tastes. Britney Spears and Tony Soprano aren’t upper class, they’re a trailer park girl and working class stiff with money, respectively.
By Quintile, household income for San Diego (2008):
0-20%: ~25k/year
21-40%: ~25-50k/year
41-60%: ~50-80k/year
61-80%: ~80-125k/year
Top 20%: >$125k/yearFor bearishgurl, at least 60% of San Diego households are below middle class. AN’s breakdown puts the median in lower middle class territory. Perhaps the middle class really is shrinking that much, but for me the middle really should be “the middle”.
I have a hard time with any lumping that doesn’t put the 50% point in “middle class”. Because there is such a huge gap between the ultra-rich and the rich, the rich don’t tend to think of themselves as such. At the same time the truly poor tend to be invisible to most of us.
There is of course a difference between income and wealth. I know a medical doctor in his early 30s who probably makes over $200k a year, but whose family net worth is currently negative thanks to student loans, their lifestyle, and being underwater on his mortgage. I also know a guy who inherited a bunch of houses from his parents whose net worth is probably pushing $2m, but probably nets less than $100k/year. Neither probably thinks of himself as “rich”, yet compared to most people, both are.
ParticipantGoing to vote Jerry Brown for Governor, although I’m not excited about him.
In general, when in doubt I vote No on props, especially statewide.
Yes on 13, No on all the other state props. Prop 16 in particular disgusts me; it’s a stunning example of how stupid our prop system is, where one company can bankroll a prop that only exists to try to protect their interests.
Yes on B and C, no on D.
ParticipantGoing to vote Jerry Brown for Governor, although I’m not excited about him.
In general, when in doubt I vote No on props, especially statewide.
Yes on 13, No on all the other state props. Prop 16 in particular disgusts me; it’s a stunning example of how stupid our prop system is, where one company can bankroll a prop that only exists to try to protect their interests.
Yes on B and C, no on D.
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