These home listings- What kind of job do these people have to be this rich?

[Zeze]

I was looking at Miami on google maps due to hurricane. Then I looked up these waterfront properties on zillow.

https://www.zillow.com/homes/for_sa...5,-80.174448,25.688387,-80.178552_rect/18_zm/

Absolutely gorgeous. WTF do they all do for living? There are thousands of $10 mil~ homes.

You can't even touch these homes working at a company making peanuts of $300-500K+. Do they all own companies? Famous directors? Druglords?

I wonder if you can somehow do a survey and wonder what the most common job/industries are of these home owners.

 

[Insomniator]

Waterfront properties in that area draw rich people from all over the world. Probably a bunch of vacation houses for famous people (actors, musicians, athletes, CEO's) that spend 1 week a year there with 10 other vacation houses. Its not for your 'average' lawyer or doctor making 300k a year -- those people live on million dollar waterfront houses in NJ and NY.

 

[Crono]

Real estate developers, CEOs, business owners of various types, some drug lords.

 

[OutHouse]

i hope Alky's house makes it out ok.

 

[pete6032]

I want to know who can afford a $2 million house. What kind of job do you have?

 

[Zeze]

I want to know who can afford a $2 million house. What kind of job do you have?

Tons.

Every C-level execs of all med to large companies.

Tons of specialist doctors. Plastic surgeons.

Top firm lawyer partners. Dime a dozen.

Any well-to-do chef/owners with several openings. Or real estate person.

My Lasik eye surgeon who set up 2 practice and flies between 2 coasts.

2 mil is nothing. Hell even my wife and I can afford it after couple of promotions.

 

[Xcobra]

Drug lords...

 

[Svnla]

Who would be able to own those kind of expensive homes?

Let see. Pro athletics such as Tiger Wood, entertainers such as Celine Deon, TV stars such as Oprah, Hedge fund managers such as Bill Ackman, and so on... too many to list them all.

Don't forget them rich foreigners (clean and dirty money)..(South America and other parts of the world).

One more thing, the home from the first post is "only" about $20M, look at this baby, $195M, perfect for an ATOT baller/high roller - https://miami.curbed.com/2015/11/12/9901026/most-expensive-home-america

Too much? How about these? "Only" in the ballpark of $30M and up - http://realestatemiami.alexshay.com/i/Ten_Most_Expensive_Homes_In_Miami

25 nice homes on sale now... = https://miami.curbed.com/maps/miami-most-expensive-homes-map

 

[Mai72]

There are millions of wealthy people in America, and they cone from all walks of life. I once was told by a wealthy man who said "most Americans are conditioned to think small. That most think living in a million dollar home is a big deal. It's not" Then he went on to say that America is amazing, etc...

This video get straight to the point. Many people become successful entrepreneurs in America. It's why capitalism is so amazing. Anyone can become successful if they're willing to put the time in. What's truly remarkable is many entrepreneurs don't have advanced degrees. Hell, many are college drop outs. Only in America.

https://youtu.be/3LOMkHA34ng

 

[Slew Foot]

Crooked politicians. Or really any politician

 

[Zeze]

Crooked politicians. Or really any politician

I don't think politicians are This rich.

Aside from Clintons and select few, the entire congress can't afford this.

 

[Gryz]

You Americans all believe your own crock. The American Dream. If you work hard, you too can become rich. Don't be jealous, don't be envious. If you want what others have, go work for it. They all have worked hard for it, and so should you. If you don't succeed then it is your own fault. Only you are too blame.

What job do these people have ? What makes you think a job has anything to do with wealth ?

Reality is, the biggest factor in your life, by far, whether you will be successful and rich is: are your parents rich ?

I would imagine that most of those expensive houses are owned by rich people from rich families. Whose parents were rich. Whose grandparents were rich. With wealth you can accumulate more wealth. Your current economic model is completely targeted towards rich people accumulating more wealth. There is no way in your system where wealth spreads out again. It only gets clustered. It might not have been obvious in the previous century. But the last decade people have started to notice. Money flows up. Never trickles down. In the end you will be back to the same situation as we had a few centuries ago in Europe: a feudal system, with a rich aristocracy, and very poor masses. In theory a poor person can be elevated into aristocracy, but that'll be an exception. Only the children of the aristocrats will enter aristocracy.

You now even elected a President who is a shining example of this new system of aristocracy. Rich because his daddy was rich. He's a major screw-up, has no morals. Probably not very smart. But even then, he ended up richer than he started.

There is no American Dream.

 

[ponyo]

Tons.

Every C-level execs of all med to large companies.

Tons of specialist doctors. Plastic surgeons.

Top firm lawyer partners. Dime a dozen.

Any well-to-do chef/owners with several openings. Or real estate person.

My Lasik eye surgeon who set up 2 practice and flies between 2 coasts.

2 mil is nothing. Hell even my wife and I can afford it after couple of promotions.

2 mil is nothing? Lol. Being able to buy 2 mil home and afford are two separate things. That said there are lot of rich people out there. Every building and land you see has an owner. Most of them are rich because their parents and grandparents were rich. And many of their parents got rich through luck, fraud, and corruption. They push the boundaries of law and use their connections with people in power to get sweetheart deals on corporations and taxpayers dime. There's so much money in government. That's how you get rich and afford $2-10 mil condos.

 

[skull]

You Americans all believe your own crock. The American Dream. If you work hard, you too can become rich. Don't be jealous, don't be envious. If you want what others have, go work for it. They all have worked hard for it, and so should you. If you don't succeed then it is your own fault. Only you are too blame.

What job do these people have ? What makes you think a job has anything to do with wealth ?

Reality is, the biggest factor in your life, by far, whether you will be successful and rich is: are your parents rich ?

I would imagine that most of those expensive houses are owned by rich people from rich families. Whose parents were rich. Whose grandparents were rich. With wealth you can accumulate more wealth. Your current economic model is completely targeted towards rich people accumulating more wealth. There is no way in your system where wealth spreads out again. It only gets clustered. It might not have been obvious in the previous century. But the last decade people have started to notice. Money flows up. Never trickles down. In the end you will be back to the same situation as we had a few centuries ago in Europe: a feudal system, with a rich aristocracy, and very poor masses. In theory a poor person can be elevated into aristocracy, but that'll be an exception. Only the children of the aristocrats will enter aristocracy.

You now even elected a President who is a shining example of this new system of aristocracy. Rich because his daddy was rich. He's a major screw-up, has no morals. Probably not very smart. But even then, he ended up richer than he started.

There is no American Dream.

You sound bitter that your that your in a country with less opportunity than America.

 

[Zeze]

You sound bitter that your that your in a country with less opportunity than America.

Shots fired

 

[WelshBloke]

You sound bitter that your that your in a country with less opportunity than America.

He kinda has a point.

Socio-economic mobility has declined for decades in the US, and the wealth gap has been increasing.

https://en.m.wikipedia.org/wiki/Socioeconomic_mobility_in_the_United_States

 

[skull]

Things are the way they have always been everywhere. People with money control the money nothing new. Doesn't mean I'm going to lay down and die giving up on my dreams.

 

[urvile]

There are millions of wealthy people in America, and they cone from all walks of life. I once was told by a wealthy man who said "most Americans are conditioned to think small. That most think living in a million dollar home is a big deal. It's not" Then he went on to say that America is amazing, etc...

This video get straight to the point. Many people become successful entrepreneurs in America. It's why capitalism is so amazing. Anyone can become successful if they're willing to put the time in. What's truly remarkable is many entrepreneurs don't have advanced degrees. Hell, many are college drop outs. Only in America.

https://youtu.be/3LOMkHA34ng

You are adorable.

 

[K1052]

Dick measuring contests for the wealthy. Finance\highly compensated c-suite people, family money, pro athletes, wealthy foreigners looking to stash cash in US real estate, etc are all prime buyers for this kind of stuff.

 

[brianmanahan]

and meanwhile, warren buffett lives in the same house he bought in 1958 for 31$k. adjusted for inflation, that's 263$k. of course he's probably done some nice upgrades.

i don't care how much money i make or save, my house is going to cost around 100$k-150$k.

 

[Crono]

You Americans all

Gross overgeneralizations usually start this way.

Also, it's called the American Dream for a reason. It may be less attainable than before, but it's always been an aspiration, not a given.

 

[Riverhound777]

Wealth doesn't always come from a job, like others have said, it comes from your parents. But I would like to add that it's not just money that comes from parents, but the knowledge and skills to earn money. My parents are not rich, and started out dirt poor. My Dad grew up in the mountains working lumber and eventually opened his own barber shop. Nothing crazy. But he also got into investing/stocks/etc.

So while he's still not rich (they own a $300k house on 6 acres, and probably about the same in stocks), he taught me a lot about money, how to save, how to invest, and i've run with that knowledge. So while I myself am still not rich, I'm only 34 and am much better off than my parents were probably 10 years ago. I own a 500k condo and have a fairly substantial stock portfoliio of my own. I would say next generation of our family might indeed make it to "rich" status.

So it can also just take time and knowledge.

 

[Exterous]

He kinda has a point.

Socio-economic mobility has declined for decades in the US, and the wealth gap has been increasing.

https://en.m.wikipedia.org/wiki/Socioeconomic_mobility_in_the_United_States

He's only focusing on part of the cause though:
https://inequality.stanford.edu/sites/default/files/Pathways-SOTU-2016-Economic-Mobility-3.pdf

There has also been a decades long shift in earnings from wages to stocks yet 2016 saw a tie for the lowest participation in the stock market in just as long. This is despite it being easier than ever before to invest in the stock market and invest well. Retirement plans like IRAs or 401ks aside places like Vanguard and Fidelity make it easy to open accounts and often waive fund minimums if you enroll in auto-deposits. Index funds mean no more expensive AUM advisers and target date index funds are cheap mindless set and forget options.

There is a valid argument for wage pressures making it harder for people to invest in the stock market but at least some of that comes down to choices made in spending. Middle income tiers spend $700-800 a year on alcohol and tobacco, $2300 at restaurants and $1400 per year on clothing. We only keep cars for 5.5 years despite the rapid improvement in car reliability beyond 10 years for many models. The average car loan keeps increasing despite the increase in affordable\reliable lower cost options. The average home size has increased from 1600sq ft in 1973 to 2600 in 2015 despite a decreasing family size. That means we've gone from 500 sqft per person to 1,000. Prices per sq ft have remained largely the same so people are choosing to spend significantly more on their houses than previous decades. This isn't a defense of our tax\earning structure but consumers are making active decisions to consume more rather than take part in the shift and are passing on opportunities to build wealth.

http://www.npr.org/2017/03/01/51797...t-many-americans-left-out-of-the-conversation
https://www.bls.gov/cex/2016/combined/decile.pdf
http://www.aei.org/publication/new-...d-living-space-per-person-has-nearly-doubled/

 

[ponyo]

To obtain wealth OP is talking about, you need massive luck and connections. And to have the connections that might provide you with the opportunities to earn silly crazy money , you need to be rich. Or be lucky and know people who can bring you in to their circle. The rest of you have no chance no matter how hard you work. And if you're employee and not business owner, forget about it.

 

[Red Squirrel]

I'd imagine it's mostly lottery winners, not just literal lottery, but people that just got really lucky in a life situation. Like someone that created a program or app and ended up making millions. Or someone that scored some kind of huge bid on a project or get a really high end job like CEO etc. But I think it's one of those things that you just have to be lucky to get to that point. You can maybe work really hard to the point of making 1 mil, but making enough to own a house like that, I doubt it's something you can just "work harder" for. You need to get lucky as hell.

Honestly though, those huge mansions don't appeal to me that much, yeah they're nice, but I'd be happy with like a 1mil lake front cottage in the forest and more land around it. I'd use the rest of the money for other fun things on the property, and toys. Probably donate a ton to family, charities etc too.