Just went to Zillow for 30 seconds, did a search for single family properties up to $400k (mortgage payment of 1800/month on a 30 year loan, which after taxes and everything should put you at a little over $2k per month), and you get over 1,000 results. I'd say eski has this one.
I would simply say that he lives there. And unless you also live there, you simply aren't qualified to argue. I mean, feel free to toss in your opinion, but no matter how much real internet research you have done it doesn't quantify to actually living in that specific area.
It's funny you think that people making $100k are ekeing it out in New York.
The American middle class has a spending problem, and that's leaving many living paycheck to paycheck.
About one-third of U.S. households earning at least $75,000 annually say they are living on the edge financially, according to a new survey from SunTrust (STI) that was conducted by Harris Poll. Even households earning at least $100,000 are finding themselves pinched, with 1 in 4 saying they sometimes live from pay period to pay period.
Although economists and public policy experts increasingly point to widening income inequality and stagnant wages as reasons why the middle class is feeling strapped, the survey participants pointed to another factor: overspending. About 4 out of 10 said splurging on lifestyle purchases, such as eating out and shopping, means they aren't saving as much as they should.
Millennial households appear to be even bigger spendthrifts, with 7 out of 10 households in that generation blaming spending on lifestyle choices.
Still, these higher-income households appear to be doing better than the average American. Seven of 10 Americans are strained by financial issues such as crushing debt loads or income that's too low to cover their expenses, The Pew Charitable Trusts found in a January study.
My sister lives very comfortably (in a rent-controlled apartment in Stuyvesant Town) and has never made anything approaching $100K annually. My dad has always made more than that amount in today's dollars, so has enjoyed a very nice lifestyle in NYC - certainly nicer than my sister's. In any case I don't think there is any question that a) $100K/year is far from wealthy in New York terms, or that b) one can live with reasonable comfort in NYC for $100K/year.
One thing you may be neglecting to consider is the cost of owning a car (as I presume you do - I myself own two). Unlike elsewhere in New England, car ownership is the exception, rather than the rule in New York, and thus New Yorkers can apply that pro rata portion of their income to other things. My sister has lived in NY since she was 17, and has never even obtained a drivers license. In addition, many New Yorkers enjoy rent controlled living, so their expenses are considerably less than they would be if they were renting at market rate. My sister has a large, nice two-bedroom apartment in a private community with its own amenities and security, for which she pays $1,100/mo, including utilities. That is actually less than she would pay here in Minneapolis for a comparable place.
No, I said this:
That means I make more than $65-$70k. You need to work on your reading comprehension. In fact I make very close to $100k if you have to know. So again, do you want to tell me more about how impossible it is to do exactly what I do every day in a city that you don't live in based on what your friends told you and an article you read about living in Manhattan?
Just went to Zillow for 30 seconds, did a search for single family properties up to $400k (mortgage payment of 1800/month on a 30 year loan, which after taxes and everything should put you at a little over $2k per month), and you get over 1,000 results. I'd say eski has this one.
Two things on this:
1. I find it hard to consider "rent controlled properties" since getting one is I would figure very difficult....sure if you can get either low income housing or something that is seriously cost controlled then fine...but for most they have to go with what the market has available
2. But what Eski is saying is that yes, 100K is "comfortable" in NYC and my point in retrospect is that I guess it truly depends on what one defines as "comfortable", speaking for myself I have done the math for my area, which is comparable in location and I presume cost and I would not be at all "comfortable" on only 100K living in or near the city....but I guess if you're ok with a small place, not going out much, and low to no savings then sure....
Nope, I did think about car ownership and much like NY, in the city in my area you wouldn't need one if you didn't want it, but even with that savings I still don't see 100K being anything but on the low end for the area given the cost of activities, amenities, and housing.
That's a fantastic apology you have there. Quite mature of you....
My bad, here I thought you were actually doing better in that area then you are.
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