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Forum » When did you realize $100k was lower middle class
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Thread: When did you realize $100k was lower middle class

post 1568420381 12-11-2018, 08:54 PM
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#151
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I feel bad that peoples salary expectations haven't changed in nearly 20 years.

People grew up thinking 40k wasn't bad. After 20 years of inflation they still believe 40k isn't bad.
post 1568420511 12-11-2018, 08:56 PM
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#152
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Originally Posted By Luc1fer⏩
Aren’t you paying for that leverage in the form of your mortgage interest rate?

It’s still an investment in RE, hopefully it grows quicker than the borrowing rate.
Look at the effective interest rates after you write it off, and sure you’re paying to borrow, just like you would leveraging up with a broker on margin.

I’m invesred in RE, and US equities outside of retirement accounts, with leverage. Paying like 10k/year in margin interest right now, probably more actually but I sometimes sell calls against my shares which basically washes out the interest and generates additional cash flow. Plus my discipline is chit for taking profits so writing calls sort of forces my hand.
post 1568420661 12-11-2018, 08:59 PM
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#153
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Originally Posted By Globally⏩
College internship. Saw the life of typical engineercels rolling up in camrys eating lunches packed by their fat wives
Because they know what saving a few bucks every day does. When I lived in an apartment and only make about $30K a year I ate out every day at work, often went out to eat at night, wasted money on a lot of things. Now that I make more and own a house, forget that. I could save that money and put it towards my home or something. Thought about buying a new vehicle, but damn if I'm going to spend 40-60K on a vehicle which is only going to significantly drop in value constantly. I can just drive my old one that is perfectly find, and put that money towards the house and not only get my money back but probably get more than what I put into it. I didn't mind paying interest, now I'm just getting all loans and CC's paid off.
post 1568422091 12-11-2018, 09:25 PM
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#154
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Originally Posted By ashin1⏩
this is typical behavior of new money.


OP should PM me so he can learn about getting himself some old money. I am seriously willing to put this *******'s trolling aside to help him learn to max his potential.
Are you going to teach OP how to get adopted by your parents, so they can buy him some trailer park homes like they did for you?
post 1568423411 12-11-2018, 09:48 PM
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#155
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Originally Posted By Dota2Brah⏩
mr. a watts, lives in a low cost of living area while bragging about making $200k. does some social media bullchit that contributes nothing to society while doctors save lives, make way more money, and don't brag. the life of a low intellect, high-income person. constant need for validation because he doesn't have a fulfilling, intellectually-demanding career.
Social media? LMAO. Nice fantasy take, not sure where you got it from mate.















Also LOL @ the advicecels, I will have 2 properties in 2k19, srs
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post 1568423921 12-11-2018, 10:01 PM
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#156
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Originally Posted By Jasonw1178⏩
Because they know what saving a few bucks every day does. When I lived in an apartment and only make about $30K a year I ate out every day at work, often went out to eat at night, wasted money on a lot of things. Now that I make more and own a house, forget that. I could save that money and put it towards my home or something. Thought about buying a new vehicle, but damn if I'm going to spend 40-60K on a vehicle which is only going to significantly drop in value constantly. I can just drive my old one that is perfectly find, and put that money towards the house and not only get my money back but probably get more than what I put into it. I didn't mind paying interest, now I'm just getting all loans and CC's paid off.
Thanks for proving my point
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post 1568424231 12-11-2018, 10:09 PM
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#157
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Originally Posted By Ratfish⏩
worst possible timing tbh

can't break even for possibly a decade srs

to compare, i bought my house 5 and a half years ago for 160 and it's worth 325 now. i pay it off in may. nobody watches the cycles for some reason.
As someone who has owned 6 homes and currently have 2.... what cycles are you speaking of mr expert? Besides the 2008 crash, wtf are you talking about? Home prices have been in an uptrend for 10 years. Theres has been no significant dips. Also if you dont have capital laying around, which 99% of people dont, you cant time chit. Only timing I would say was stupid to buy in was early 2017 since value flew like 20% then stabilized after a small dip. But it's nothing significant to be making money off of. You got lucky like every other homebuyer in the last 10 years lol.
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post 1568425451 12-11-2018, 10:31 PM
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#158
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Originally Posted By GriecoR⏩
As someone who has owned 6 homes and currently have 2.... what cycles are you speaking of mr expert? Besides the 2008 crash, wtf are you talking about?Home prices have been in an uptrend for 10 years.Theres has been no significant dips. Also if you dont have capital laying around, which 99% of people dont, you cant time chit. Only timing I would say was stupid to buy in was early 2017 since value flew like 20% then stabilized after a small dip. But it's nothing significant to be making money off of. You got lucky like every other homebuyer in the last 10 years lol.
Miscer stupidity strikes again LOL

LOL

owning 6 houses in Canada is like owning a dog house here, Bubbles
Make Europe Germany Again
post 1568425531 12-11-2018, 10:33 PM
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#159
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Originally Posted By Ratfish⏩
Miscer stupidity strikes again LOL

LOL
well are u gonna debate him or what? i don't know shyt about the market so it looks like he is owning you. rebuttal?
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post 1568425621 12-11-2018, 10:34 PM
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#160
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Originally Posted By IronILLinois⏩
well are u gonna debate him or what? i don't know shyt about the market so it looks like he is owning you. rebuttal?
look
at
a
chart
Make Europe Germany Again
post 1568425661 12-11-2018, 10:35 PM
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#161
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Originally Posted By Ratfish⏩
look
at
a
chart
negged
Toxic Male Energy

Pull-up mogged GooBaa 19JAN2023, me (10) him (5). To this day he refuses to take his perm.

Garbage Tier Miscer List: LargePeter (5 foot 9), GooBaa, Luc1fer, MinisterofLust, Fang2, OPGenesis, NYPat, DolphinPilot, (saved).
post 1568426841 12-11-2018, 11:04 PM
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#162
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Originally Posted By Anachron⏩
But did you have $100K invested when you were 23?
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post 1568427031 12-11-2018, 11:08 PM
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#163
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Originally Posted By MrAWatts⏩
Social media? LMAO. Nice fantasy take, not sure where you got it from mate.















Also LOL @ the advicecels, I will have 2 properties in 2k19, srs
Why are you dodging my question?
What's your yearly salary after taxes?
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post 1568427161 12-11-2018, 11:12 PM
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#164
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Originally Posted By MrAWatts⏩
Also LOL @ the advicecels, I will have 2 properties in 2k19, srs
settle down alimonycel, my ocean front condo will be paid off that year too.

you'll catch up eventually
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post 1568428651 12-11-2018, 11:43 PM
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#165
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Fukking lmao @ cheapskates itt who think responsible spending and tigthening the belt for long term investments is any way to live. Fukking CUCK mentality/10 dead srs. If you are making decent money and not spending it on things you want day to day you are a tool. What if you do this for 20 years then one day a few years from "retirement" (whatever the fuk that really is.. other than getting old and having nothing meaningful to do with your life) you get hit by a bus. Fukking LMAO threw away the best years of your life for some fantasy of being a happy old person. Newsflash old people are never happy and if they are it's because they are loaded on Rx drugs and booze srs.

I'll be living the good life over here with no concerns. Enjoy eating your BOGO cereal in your big empty house every morning alone.
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post 1568428721 12-11-2018, 11:46 PM
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#166
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Originally Posted By Peacening⏩
Fukking lmao @ cheapskates itt who think responsible spending and tigthening the belt for long term investments is any way to live. Fukking CUCK mentality dead srs. If you are making decent money and not spending it on things you want day to day you are a tool. What if you do this for20 yearsthen one day a few years from "retirement" (whatever the fuk that really is.. other than getting old and having nothing meaningful to do with your life) you get hit by a bus. Fukking LMAO threw away the best years of your life for some fantasy of being a happy old person. Newsflash old people are never happy and if they are it's because they are loaded on Rx drugs and booze srs.
maybe for you and thats being extremely optimistic.

lmao @ your life

buzz off pizza boy
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post 1568429671 12-12-2018, 12:08 AM
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#167
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Originally Posted By ashin1⏩
maybe for you and thats being extremely optimistic.

lmao @ your life

buzz off pizza boy
Lmao I would never retire only low IQ boomers want that.

What you think retirement is like:




What your retirement will actually be like every day:




I repeat fukking LMAO @ rushing to the stage of life where you are purposeless and waiting to die
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post 1568430181 12-12-2018, 12:17 AM
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#168
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Saw this article pop up on my Google Feed about Austin homes.

https://www.bizjournals.com/austin/n...ur-austin.html



$180,709to afford a house at $937,800

I will be cracking $110,000 in compensation this year (inb4 poverty). I may be closer to $120,000 next year at this pace, optimistically.

West Lake Hills, Bee Cave, etc has some of the more prestigious housing in Austin and most beautiful. I'm getting a rent hike this year. I need to get a starter home or something before 2020.
Indeed, while the rising home values in Austin proper reflect the area's robust economy, it's also contributed to displaced residents and gentrifying neighborhoods in other parts of the city.

The Business Journals determined each neighborhood's minimum salary threshold by applying prevailing mortgage rates to a hypothetical home buyer scenario that included the following:

- 10 percent down payment applied to the area's median home value
- Prevailing mortgage rates for conventional and jumbo loans
- A monthly mortgage payment of no more than 30 percent of the buyer's pre-tax income.
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post 1568432911 12-12-2018, 01:53 AM
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#169
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FFS looking at US real estate always depresses me.

Here's a house in Austin for $950k -https://www.trulia.com/p/tx/austin/1...46--2072227699. 5 bedrooms, 3.5 bath, etc etc.



USD950k is about AUD1.3m. Here's what AUD1.3m buys you in a decent part of Sydney -https://www.domain.com.au/12-gipps-s...021-2014635498. For those of you too lazy to click the link, it's a tiny 1 bedroom, 1 bathroom terrace house in Paddington (a great suburb).

post 1568432941 12-12-2018, 01:54 AM
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#170
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Originally Posted By bigdownunder⏩
FFS looking at US real estate always depresses me.

Here's a house in Austin for $950k -https://www.trulia.com/p/tx/austin/1...46--2072227699. 5 bedrooms, 3.5 bath, etc etc.



USD950k is about AUD1.3m. Here's what AUD1.3m buys you in a decent part of Sydney -https://www.domain.com.au/12-gipps-s...021-2014635498. For those of you too lazy to click the link, it's a tiny 1 bedroom, 1 bathroom terrace house in Paddington (a great suburb).

is it purely thanks to the chicoms?
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post 1568433121 12-12-2018, 01:59 AM
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#171
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Originally Posted By Ratfish⏩
is it purely thanks to the chicoms?
No. Not many people know this, but “foreigners” can’t buy existing houses. They can only invest in new devs, and often foreigners are what make these devs viable.

In reality it’s a combination of the tax system encouraging speculation and an ongoing inter generational wealth transfer from the young to the old
post 1568433261 12-12-2018, 02:03 AM
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#172
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Originally Posted By r32gojirra⏩
No. Not many people know this, but “foreigners” can’t buy existing houses. They can only invest in new devs, and often foreigners are what make these devs viable.

In reality it’s a combination of the tax system encouraging speculation and an ongoing inter generational wealth transfer from the young to the old
prices like that don't make sense unless there are wages to support them. i guess i just don't get it.
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post 1568433421 12-12-2018, 02:07 AM
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#173
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Originally Posted By Ratfish⏩
prices like that don't make sense unless there are wages to support them. i guess i just don't get it.
It’s not wage growth, it’s credit growth. Huge difference from a macro prudential perspective. And inter generational equity perspective.

Once I bought my first house, the bank literally threw money at me to buy subsequent houses. Those who got into the market just after the Asian financial crisis had massive capital gains (ie prices more than doubled) everyone else lost out.
post 1568433651 12-12-2018, 02:19 AM
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#174
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Originally Posted By r32gojirra⏩
It’s not wage growth, it’s credit growth. Huge difference from a macro prudential perspective. And inter generational equity perspective.

Once I bought my first house, the bank literally threw money at me to buy subsequent houses. Those who got into the market just after the Asian financial crisis had massive capital gains (ie prices more than doubled) everyone else lost out.
so lending standards are even more lax there than here?
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post 1568433961 12-12-2018, 02:39 AM
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#175
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100K under 40 is top 10% in US


good ole misc
post 1568434701 12-12-2018, 03:17 AM
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#176
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Originally Posted By Ratfish⏩
so lending standards are even more lax there than here?
For people with large net wealth (even unrealised capital gains) yes.

I never base my borrowing on what the bank offers though I make my own assessment. But then managing risk is what I do for a living.

If you don’t have any assets, it’s pretty tough to get any kind of finance at decent rates.
post 1568439591 12-12-2018, 06:25 AM
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#177
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Originally Posted By Ratfish⏩
is it purely thanks to the chicoms?
Houses like that aren't typically first homes.
post 1568439711 12-12-2018, 06:29 AM
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#178
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Awatts, I like you bro, but you need to diversify. This shtick is getting a little old. I know it's your main deal, but you didn't used to be this aggressive with it. Subtlety is key
post 1568439751 12-12-2018, 06:30 AM
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#179
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Originally Posted By JoeDelts⏩
Houses like that aren't typically first homes.
There was a rash of media at some point about the “Chinese” buying up properties in places like carlingford and Epping in Sydney

Turns out they were just people of Chinese appearance who were actually residents or citizens and not foreigners at all

Australian journalism ftw
post 1568440021 12-12-2018, 06:36 AM
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#180
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Originally Posted By GrammarNaziM8⏩
Why are you dodging my question?
What's your yearly salary after taxes?
LMFAO calm down there champ. I have said many times what I make.
535 deadlift.
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