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How do people afford it here?
Posted by: How do people do it? ()
Date: November 30, 2015 08:46AM

My wife and I work hard raising our 2 kids. Our household income is ~150k a year. We both have jobs. Like our neighbors though we drive 10-15 year old cars, and live in a modest split level in Annandale/Burke area.

Hate to say it but with braces for kids, medical expenses, taxes and the high cost of living we are just a little better than paycheck to paycheck. I was driving in the Fountainhead park area this weekend and marveling at the multi-million dollar mansions. How do people do it?

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Re: How do people afford it here?
Posted by: good value out there ()
Date: November 30, 2015 08:52AM

1.2 million - good value out there

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Re: How do people afford it here?
Posted by: heymack ()
Date: November 30, 2015 09:06AM

Not unusual for a family with two professional incomes making over $350K+ per year. Lawyers, engineers, software architects, etc. etc.all over the place. Heck, a household with 2 GS 15 federal employees is making $250K...and that is government workers.

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Re: How do people afford it here?
Posted by: Edward Jones ()
Date: November 30, 2015 09:27AM

How do people do it? Wrote:
-------------------------------------------------------
> My wife and I work hard raising our 2 kids. Our
> household income is ~150k a year. We both have
> jobs. Like our neighbors though we drive 10-15
> year old cars, and live in a modest split level in
> Annandale/Burke area.
>
> Hate to say it but with braces for kids, medical
> expenses, taxes and the high cost of living we are
> just a little better than paycheck to paycheck. I
> was driving in the Fountainhead park area this
> weekend and marveling at the multi-million dollar
> mansions. How do people do it?

You're doing better than the median household around here, but not by a lot. Certainly not by enough to be affording high-end properties, Find some way to amass more wealth and/or greater income if you want to rub elbows with the movers and shakers.

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Re: How do people afford it here?
Posted by: Its Going To Get Much Worse ()
Date: November 30, 2015 09:31AM

>Heck, a household with 2 GS 15 federal employees is making $250K...and that is government workers.

And that should be outlawed to one federal gravy job per marriage. 250 K a year and don't do Jack Shit. Don't tell me about Federal "Service" Its really "Self Service" for ass kissers and "Yes" Men and Women. I've been there.

And Now that Obama declares war on Climate Change.. forget terrorists. To Pander to the Greens in the party of Freaks.

Bill Gates is now his sidekick, Bill of course can afford any type of windmill solar and the biggest gas or electric bills would not get on his radar.

The rest of you suckers watch it.. You voted for Obummer. Dig deep as you pay the bills for his Climate Crap.. India, China, The Middle East, South America Everyone is laughing at your asses.

Now in your future, forget that big house, Too much energy too wasteful for you. Better used as group homes for mucho illegals. You'll do as UN Chief Obama wants, live in a Planned Model Project to please his Green limo Liberals who will be jetting off to Aruba as you watch out to keep your throat from being cut in the Bicycle parking garage of the "Gun Free" Crime Ridden Project infested with trash, rotten diapers, roaches, bed bugs and lice.

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Re: How do people afford it here?
Posted by: 2 Hot Dogs Please ()
Date: November 30, 2015 09:49AM

7-11 is hiring for night shift positions -

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Re: How do people afford it here?
Posted by: What a crybaby ()
Date: November 30, 2015 10:00AM

Its Going To Get Much Worse Wrote:
-------------------------------------------------------
> And that should be outlawed to one federal gravy job per marriage.

You say that because you ain't got the "meat-and-potatoes" to start out with.

> Don't tell me about Federal "Service" Its really "Self Service"
> for ass kissers and "Yes" Men and Women. I've been there.

LOL! Just as I thought! Got run off the plantation, eh? Nice going, you dipshit loser.

> Now in your future, forget that big house...

A great many people can afford what you has-been dirtbags fear you cannot.

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Re: How do people afford it here?
Posted by: Johnny Fairfax ()
Date: November 30, 2015 10:04AM

To OP - Similar situation. Mid 30's, with kids household income of +$175K. One factor working against people like me is the timing of the housing market. If I would have bought in late 90s early 2000s, I would have seen my home value more than double in a matter of a few years. Many people in nice homes today, hit the housing lottery back then. Instead, I've seen a measly 18% increase in home value for a property I bought in late 2004. Even with $100K in equity, upgrading to something nice is nearly impossible in Fairfax. I acknowledge that there are many high income households who can afford these crazy high home prices, but a portion of today's homeowners benefited from the housing market of the early 2000s.

I also wonder how much housing debt the average household is willing to take on in this area. It has to be well above the national average.

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Re: How do people afford it here?
Posted by: Stop your sobbing ()
Date: November 30, 2015 10:57AM

Man up. There never was a gravy train. Nobody ever had a free lunch. Markets run hot and cold. It's what they do. Somebody makes money either way. It could be you, but if not, that's nobody's business but your own.

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Re: How do people afford it here?
Posted by: 909090909 ()
Date: November 30, 2015 11:02AM

Living paycheck to paycheck making $150,000 per year with 2 kids, and living in the Annandale/Burke area? $1500,000 is a little low for this area, but even if you just bought your home, you should be able to get away with $5,000~ per month unless you have some other debts or special needs.

$240k HHI here, sold our home in Springfield for 3x what we paid for it, after all closing costs, we were left with $350k. We moved up to a $850k home, used our old homes equity, put down an additional $150k out of savings, and took on a $350k mortgage. We could have paid all cash for our home, though our investments make more than what we pay in interest on our mortgage. Looking back on it, I would should have put down even less, but at least now we have a pretty small monthly payment.

So how to afford a nice home? Income helps, your investments help a lot, if you had money in the stock market over the past 5 years you have likely done very well. Having bought our first home over 15 years ago helps, but our other investments have far out performed the 3x increase we made on our Springfield home.

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Re: How do people afford it here?
Posted by: yates forder ()
Date: November 30, 2015 11:21AM

Wealthy parents help too.

Of the neighbors near me in Clifton, at least half had "help" from the folks to buy/build their high-end residences. And that's just the ones that will tell you. Usually it's the wife's parents writing the checks.

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Re: How do people afford it here?
Posted by: mjs ()
Date: November 30, 2015 11:26AM

wife and I moved up here from Florida in 2000. huge sticker shock when selling a three year old house in florida for 100K, and buying a 20 year old fixer-upper in REeston for $250K.

thank god we bought the house cheap. in ten years we doubled our money on it and sold it. Now live in Vienna and bought cheap at $780K, homes on the street are now selling for close to a million. so we hare now house rich.

Wife and I combined income 180K.

driving one 8 year old car, one two year old car. Both domestics. nothing extravagant. Both owned outright

Just got done paying for braces for the kid.

have 40K banked in savings... 529 for the kid is near 100K

no CC debt....

it can done. I'm not eating caviar and drinking champagne every day. but i;m not going hungry either...

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Re: How do people afford it here?
Posted by: Small sample ()
Date: November 30, 2015 11:31AM

There are fewer than 300 people living in Clifton.

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Re: How do people afford it here?
Posted by: Obama lovet ()
Date: November 30, 2015 12:07PM

My $2 million home in McClean is subsidized by you working fucks. Lol!

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Re: How do people afford it here?
Posted by: FrankR. ()
Date: November 30, 2015 01:05PM

Same boat OP. As others have said, many bought when the timing was right and prices were much lower.

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Re: How do people afford it here?
Posted by: Take My Advice ()
Date: November 30, 2015 01:31PM

Buy low. Sell high. Works every time. Bitching about how other people got ahead and you haven't yet isn't ever going to work at all.

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Re: How do people afford it here?
Posted by: 22152 ()
Date: November 30, 2015 01:41PM

We took 100K equity from a townhouse in Centerville and put it on a large single family in West Springfield. $2500/mo mortgage. have a home base biz that lets me write off the basement. That means I get to deduct 1/3 of the the mortgage, utilities, insurance and meals when filing. I deduct all of the expenses on one vehicle (which is paid for). Heck, I deduct all of the clothing and associated items I need to get by. There are plenty of cash saving things you can do when you have a business.

Use the system.

On the other hand, I don't waste money on alcohol, drugs, smokes, dog food and I'm considering cutting the cable. I just upgraded my iphone3 because it would not hold a charge anymore. I give that money (over a grand a month) to my church or charities because I believe it comes back to me...and it does.

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Re: How do people afford it here?
Posted by: "Money ain't for nothin" ()
Date: November 30, 2015 01:54PM

Be happy and enjoy what you have. You can't take it with you.

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Re: How do people afford it here?
Posted by: gated driveway ()
Date: November 30, 2015 02:12PM

How do people do it? Wrote:
-------------------------------------------------------
> My wife and I work hard raising our 2 kids. Our
> household income is ~150k a year. We both have
> jobs. Like our neighbors though we drive 10-15
> year old cars, and live in a modest split level in
> Annandale/Burke area.
>
> Hate to say it but with braces for kids, medical
> expenses, taxes and the high cost of living we are
> just a little better than paycheck to paycheck. I
> was driving in the Fountainhead park area this
> weekend and marveling at the multi-million dollar
> mansions. How do people do it?


You and your wife are poor. Stop wondering why and start trying to improve yourselves. I am guessing you are republicans?

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Re: How do people afford it here?
Posted by: NGYhG ()
Date: November 30, 2015 02:31PM

gated driveway Wrote:
-------------------------------------------------------
> How do people do it? Wrote:
> --------------------------------------------------
> -----
> > My wife and I work hard raising our 2 kids.
> Our
> > household income is ~150k a year. We both have
> > jobs. Like our neighbors though we drive 10-15
> > year old cars, and live in a modest split level
> in
> > Annandale/Burke area.
> >
> > Hate to say it but with braces for kids,
> medical
> > expenses, taxes and the high cost of living we
> are
> > just a little better than paycheck to paycheck.
> I
> > was driving in the Fountainhead park area this
> > weekend and marveling at the multi-million
> dollar
> > mansions. How do people do it?
>
>
> You and your wife are poor. Stop wondering why and
> start trying to improve yourselves. I am guessing
> you are republicans?

$150k per year and its true - we are poor for this area based on the American Dream. Also we purchased at near the height of the market so the home has Lost value. Sucks. Its time for braces for both kids so looks like it might be time to start a weekend business on the side - cleaning gutters, personal trainer or some shit.

We stay because of the schools - if it werent for them we would be out of this area and cut our housing cost in half. Our kids do very well in school and if move to lower cost area its likely they would not get the same level education or even close.

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Re: How do people afford it here?
Posted by: Ralph Pootawn ()
Date: November 30, 2015 03:08PM

NGYhG Wrote:
-------------------------------------------------------
> gated driveway Wrote:
> --------------------------------------------------
> -----
> > How do people do it? Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > My wife and I work hard raising our 2 kids.
> > Our
> > > household income is ~150k a year. We both
> have
> > > jobs. Like our neighbors though we drive
> 10-15
> > > year old cars, and live in a modest split
> level
> > in
> > > Annandale/Burke area.
> > >
> > > Hate to say it but with braces for kids,
> > medical
> > > expenses, taxes and the high cost of living
> we
> > are
> > > just a little better than paycheck to
> paycheck.
> > I
> > > was driving in the Fountainhead park area
> this
> > > weekend and marveling at the multi-million
> > dollar
> > > mansions. How do people do it?
> >
> >
> > You and your wife are poor. Stop wondering why
> and
> > start trying to improve yourselves. I am
> guessing
> > you are republicans?
>
> $150k per year and its true - we are poor for this
> area based on the American Dream. Also we
> purchased at near the height of the market so the
> home has Lost value. Sucks. Its time for braces
> for both kids so looks like it might be time to
> start a weekend business on the side - cleaning
> gutters, personal trainer or some shit.
>
> We stay because of the schools - if it werent for
> them we would be out of this area and cut our
> housing cost in half. Our kids do very well in
> school and if move to lower cost area its likely
> they would not get the same level education or
> even close.


Where English is the second language? It's not like the schools here are that great.

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Re: How do people afford it here?
Posted by: Bunky Fraudster ()
Date: November 30, 2015 03:17PM

Being in real estate, we notice some people prefer being "house-rich and cash-poor". The thought of retirement savings has literally no meaning to them. You'll see the For Sale sign soon enough.

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Re: How do people afford it here?
Posted by: Do the lords work....... ()
Date: November 30, 2015 03:46PM

and everything else will come in order

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Re: How do people afford it here?
Posted by: sdkcfgnerk ()
Date: November 30, 2015 03:58PM

150,000 at 33% tax rate = $100,000 take-home = $8,333 per month

So with $8k per month you share a house, have health insurance, get a large tax deduction on your mortgage, get a tax write-off with your kids, etc, etc

If you can't make it on $8k per month take-home, you're doing something wrong...or, you aren't telling us the whole story (ie way too much house, etc)

I'm single and make $130k before taxes...and live well below my means

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Re: How do people afford it here?
Posted by: JkWGT ()
Date: November 30, 2015 04:46PM

sdkcfgnerk Wrote:
-------------------------------------------------------
> 150,000 at 33% tax rate = $100,000 take-home =
> $8,333 per month
>
> So with $8k per month you share a house, have
> health insurance, get a large tax deduction on
> your mortgage, get a tax write-off with your kids,
> etc, etc
>
> If you can't make it on $8k per month take-home,
> you're doing something wrong...or, you aren't
> telling us the whole story (ie way too much house,
> etc)
>
> I'm single and make $130k before taxes...and live
> well below my means

Our medical insurance and out of pocket medical costs are about $1600/month (dental/ortho/premium/deductibles)
Food $1200/month
PITI and upkeep $3000/mo.
Clothing/Utilities/Cable/phones/Auto $1500/mo.


The $1000/mo left over goes to savings/incidentals/vacation/education. Not much left for a family of 4.

Im glad you are single and can live on what 4 of us live on - kids are very expensive over time. Moreover they are a time commitment so your earning power is impacted.

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Re: How do people afford it here?
Posted by: JkWGT ()
Date: November 30, 2015 04:46PM

sdkcfgnerk Wrote:
-------------------------------------------------------
> 150,000 at 33% tax rate = $100,000 take-home =
> $8,333 per month
>
> So with $8k per month you share a house, have
> health insurance, get a large tax deduction on
> your mortgage, get a tax write-off with your kids,
> etc, etc
>
> If you can't make it on $8k per month take-home,
> you're doing something wrong...or, you aren't
> telling us the whole story (ie way too much house,
> etc)
>
> I'm single and make $130k before taxes...and live
> well below my means

Our medical insurance and out of pocket medical costs are about $1600/month (dental/ortho/premium/deductibles)
Food $1200/month
PITI and upkeep $3000/mo.
Clothing/Utilities/Cable/phones/Auto $1500/mo.


The $1000/mo left over goes to savings/incidentals/vacation/education. Not much left for a family of 4.

Im glad you are single and can live on what 4 of us live on - kids are very expensive over time. Moreover they are a time commitment so your earning power is impacted.

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Re: How do people afford it here?
Posted by: JkWGT ()
Date: November 30, 2015 04:52PM

sdkcfgnerk Wrote:
-------------------------------------------------------
> 150,000 at 33% tax rate = $100,000 take-home =
> $8,333 per month
>
> So with $8k per month you share a house, have
> health insurance, get a large tax deduction on
> your mortgage, get a tax write-off with your kids,
> etc, etc
>
> If you can't make it on $8k per month take-home,
> you're doing something wrong...or, you aren't
> telling us the whole story (ie way too much house,
> etc)
>
> I'm single and make $130k before taxes...and live
> well below my means

Our medical insurance and out of pocket medical costs are about $1600/month (dental/ortho/premium/deductibles)
Food $1200/month
PITI and upkeep $3000/mo.
Clothing/Utilities/Cable/phones/Auto $1500/mo.


The $1000/mo left over goes to savings/incidentals/vacation/education. Not much left for a family of 4.

Im glad you are single and can live on what 4 of us live on - kids are very expensive over time. Moreover they are a time commitment so your earning power is impacted.

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Re: How do people afford it here?
Posted by: JkWGT ()
Date: November 30, 2015 04:53PM

sdkcfgnerk Wrote:
-------------------------------------------------------
> 150,000 at 33% tax rate = $100,000 take-home =
> $8,333 per month
>
> So with $8k per month you share a house, have
> health insurance, get a large tax deduction on
> your mortgage, get a tax write-off with your kids,
> etc, etc
>
> If you can't make it on $8k per month take-home,
> you're doing something wrong...or, you aren't
> telling us the whole story (ie way too much house,
> etc)
>
> I'm single and make $130k before taxes...and live
> well below my means

Our medical insurance and out of pocket medical costs are about $1600/month (dental/ortho/premium/deductibles)
Food $1200/month
PITI and upkeep $3000/mo.
Clothing/Utilities/Cable/phones/Auto $1500/mo.


The $1000/mo left over goes to savings/incidentals/vacation/education. Not much left for a family of 4.

Im glad you are single and can live on what 4 of us live on - kids are very expensive over time. Moreover they are a time commitment so your earning power is impacted...

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Re: How do people afford it here?
Posted by: JkWGT ()
Date: November 30, 2015 04:54PM

sdkcfgnerk Wrote:
-------------------------------------------------------
> 150,000 at 33% tax rate = $100,000 take-home =
> $8,333 per month
>
> So with $8k per month you share a house, have
> health insurance, get a large tax deduction on
> your mortgage, get a tax write-off with your kids,
> etc, etc
>
> If you can't make it on $8k per month take-home,
> you're doing something wrong...or, you aren't
> telling us the whole story (ie way too much house,
> etc)
>
> I'm single and make $130k before taxes...and live
> well below my means

Our medical insurance and out of pocket medical costs are about $1600/month (dental/ortho/premium/deductibles)
Food $1200/month
PITI and upkeep $3000/mo.
Clothing/Utilities/Cable/phones/Auto $1500/mo.


The $1000/mo left over goes to savings/incidentals/vacation/education. Not much left for a family of 4.

Im glad you are single and can live on what 4 of us live on - kids are very expensive over time. Moreover they are a time commitment so your earning power is impacted.....

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Re: How do people afford it here?
Posted by: we,uxgj ()
Date: November 30, 2015 04:59PM

JkWGT Wrote:
-------------------------------------------------------

> Our medical insurance and out of pocket medical
> costs are about $1600/month
> (dental/ortho/premium/deductibles)
> Food $1200/month
> PITI and upkeep $3000/mo.
> Clothing/Utilities/Cable/phones/Auto $1500/mo.
>
>
> The $1000/mo left over goes to
> savings/incidentals/vacation/education. Not much
> left for a family of 4.
>
> Im glad you are single and can live on what 4 of
> us live on - kids are very expensive over time.
> Moreover they are a time commitment so your
> earning power is impacted.


I suggest you up your number of dependents on your W-4/VA-4. This will lower your tax refund (from interest and kids) but will give you more in your paycheck.

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Re: How do people afford it here?
Posted by: Ralph Pootawn ()
Date: November 30, 2015 05:07PM

Why keep having kids if you can't afford them? I have several married friends who've had kids and they complain about how expensive they are and how they don't have much money left over at the end of the month now. Then they go and have another kid. "Ohhh, congratulations! I'm so happy for you!" Is what they expect, while I'm scratching my head wonder WTF they're thinking. It's like they think if they if they have another kid, everything will be better.

Nuts.

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Re: How do people afford it here?
Posted by: catch 22 ()
Date: November 30, 2015 05:09PM

There is no ocean, no mountains, hardly any culture. The only reason to live here is the jobs pay well. If you don't have one of those, there is no reason to stay. Unless you really can't find work in another area. Many people in this area in that position. Working on my escape plan.

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Re: How do people afford it here?
Posted by: Two Princes ()
Date: November 30, 2015 05:09PM

Jeez, you guys let your wives work and you still have less than a quarter mil annual income? Probably you should move to Price Williams or Prince Georges.

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Re: How do people afford it here?
Posted by: Real Estate gambler ()
Date: November 30, 2015 05:10PM

Sell everything now and rent.

The country is headed to hell. Nothing will be worth a damn in a decade.

Remember, It all started here:

http://www.dailymail.co.uk/news/article-3336823/Inside-Hamtramck-America-s-Muslim-majority-city-call-prayer-echoes-streets-Syrian-refugees-welcomed-defiance-governor.html

oh, and buy a gun.

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Re: How do people afford it here?
Posted by: HHhhJ ()
Date: November 30, 2015 05:10PM

Yep -- may have to move -- will definitely have to move for retirement.
COL in the DMV is too high!

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Re: How do people afford it here?
Posted by: $109,383 ()
Date: November 30, 2015 06:03PM

25 wealthiest counties (with populations of 65,000 or greater) in the United States by median household income according to the 2012 American Community Survey[2]

1 Loudoun County Virginia
$117,876
2 Fairfax County Virginia
$109,383
3 Howard County Maryland
$108,844
4 Hunterdon County New Jersey
$105,186
5 Arlington County Virginia
$100,474
6 Stafford County Virginia
$97,606
7 Putnam County New York
$96,223
8 Somerset County New Jersey
$95,825
9 Douglas County Colorado
$95,324
10 Morris County New Jersey
$95,294

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Re: How do people afford it here?
Posted by: asdfgoiuyf ()
Date: November 30, 2015 06:44PM

Why are you spending $1200 a month on food for four people?
I fed a family of four on half that. Do you shop at Whole Paycheck?
Go to Aldi.

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Re: How do people afford it here?
Posted by: rewqgds ()
Date: November 30, 2015 06:49PM

What is going on with your health insurance? That also sounds high. Are you on a fancy plan or a high deductible plan? You are usually better off with a high deductible, putting the extra money into an HSA and taking the writeoff. You then tap into the HSA to cover the expenses. Sometimes the lowest cost per visit, etc. does not make economic sense. You think because you are only paying $20 a visit that things are good. You forget that you paid through the nose in premium for that.

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Re: How do people afford it here?
Posted by: Govt. Teat Suckers ()
Date: November 30, 2015 06:54PM

Parasites, kinda like ticks and fleas. Their host will die and they will move on like locusts.

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Re: How do people afford it here?
Posted by: Fairfax Co! King O The Hill ()
Date: November 30, 2015 08:22PM

>25 wealthiest counties
>1 Loudoun County Virginia
$117,876
2 Fairfax County Virginia
$109,383

But Loudon has one fifth the population of Mighty Fairfax, The Economic Engine of Virginia. That funds the rest of the state cause its a lousy County.. Not A City and sends more money down to Richmond than most county's budgets in Virginia even operate on.

FXCO Schools need some more cash.. DIG DEEPER SUCKERS! Shell It Out! With Your Real Estate Taxes! Cause Richmond Needs It More then You do!. To fund schools every where Else! "City" of Virginia Beach knows the Score! "City" of Chesapeake "City" of this and that DO TOO.

DAJAX

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Re: How do people afford it here?
Posted by: Tv9jm ()
Date: December 01, 2015 10:36AM

Bought 475K house in 2000, paid off mortgage in 10 years, traded up to 1.75M house during the mini boom in 2014. Dropped an extra 500K into it and now have a 500K mortgage. On track to pay it off in 20 years, in time for retirement.

Paying off your house is very feasible - just requires discipline. A 30 yr, 4% fixed rate loan for $417K, paid off using bi-weekly payments and $500 extra per month is done in 18 years.

Oh, and college educations are paid for with 5 years to go.

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Re: How do people afford it here?
Posted by: Uncle Pennybags ()
Date: December 01, 2015 11:13AM

For many people a mortgage is the lowest-cost debt they have. It's often the LAST thing you should be racing to pay off. While the train may have already left the station or be about to, the far wiser thing over the past decade or so has been to refinance and refinance and then refinance again.

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Re: How do people afford it here?
Posted by: No thanks... ()
Date: December 01, 2015 11:18AM

asdfgoiuyf Wrote:
-------------------------------------------------------
> Why are you spending $1200 a month on food for
> four people? I fed a family of four on half that.
> Do you shop at Whole Paycheck? Go to Aldi.

I went to Aldi for the first time yesterday. The one at Kamp Washington. It was a poor man's Dollar Store. I will never ever attempt to shop there again. What an absolute hole.

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Re: How do people afford it here?
Posted by: Spot the dumbfucks ()
Date: December 01, 2015 11:24AM

Govt. Teat Suckers Wrote:
-------------------------------------------------------
> Parasites, kinda like ticks and fleas. Their host
> will die and they will move on like locusts.

If you're an average American, about 25% of what you think of as your "hard-earned money" (LOL) comes directly or indirectly from public sector spending. When people say that you didn't build that, what they mean is that you didn't build that.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Johnny Fairfax ()
Date: December 01, 2015 11:30AM

Late 90s/Early 2000s Housing Lottery Winners. Those of us who bought in mid to late 2000s are just jealous:

1) Bought 475K house in 2000, paid off mortgage in 10 years, traded up to 1.75M house during the mini boom in 2014. Dropped an extra 500K into it and now have a 500K mortgage. On track to pay it off in 20 years, in time for retirement.

Paying off your house is very feasible - just requires discipline. A 30 yr, 4% fixed rate loan for $417K, paid off using bi-weekly payments and $500 extra per month is done in 18 years.

Oh, and college educations are paid for with 5 years to go

2) wife and I moved up here from Florida in 2000. huge sticker shock when selling a three year old house in florida for 100K, and buying a 20 year old fixer-upper in REeston for $250K.

thank god we bought the house cheap. in ten years we doubled our money on it and sold it. Now live in Vienna and bought cheap at $780K, homes on the street are now selling for close to a million. so we hare now house rich.

Wife and I combined income 180K.

driving one 8 year old car, one two year old car. Both domestics. nothing extravagant. Both owned outright

Just got done paying for braces for the kid.

have 40K banked in savings... 529 for the kid is near 100K

no CC debt....

it can done. I'm not eating caviar and drinking champagne every day. but i;m not going hungry either...

3) $240k HHI here, sold our home in Springfield for 3x what we paid for it, after all closing costs, we were left with $350k. We moved up to a $850k home, used our old homes equity, put down an additional $150k out of savings, and took on a $350k mortgage. We could have paid all cash for our home, though our investments make more than what we pay in interest on our mortgage. Looking back on it, I would should have put down even less, but at least now we have a pretty small monthly payment.

So how to afford a nice home? Income helps, your investments help a lot, if you had money in the stock market over the past 5 years you have likely done very well. Having bought our first home over 15 years ago helps, but our other investments have far out performed the 3x increase we made on our Springfield home.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Lowdown county ()
Date: December 01, 2015 11:32AM

Fairfax Co! King O The Hill Wrote:
-------------------------------------------------------
> But Loudon has one fifth the population of Mighty Fairfax,
> The Economic Engine of Virginia.

Yeah, Loudoun is like the little kid that lives next door. And if we sourced all that Loudoun income by county, large chunks of it would in fact be coming from Fairfax sources.

> FXCO Schools need some more cash.

Yes, they do. The state and the county have been screwing FCPS for years now. Time to start giving back. We can do it all ourselves via property taxes, or we can get other folks to help out by passing a meals tax.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Fox News ()
Date: December 01, 2015 11:35AM

How do people do it? Wrote:
-------------------------------------------------------
> My wife and I work hard raising our 2 kids. Our
> household income is ~150k a year.

NOT ENOUGH MONEY TO AFFORD LIVING IN FAIRFAX COUNTY



> We both have¤jobs. Like our neighbors though we drive 10-15
> year old cars, and live in a modest split level in
> Annandale/Burke area.


YOU WILL PUT MORE MONEY INTO THOSE CARS THAN WHAT THEY ARE WORTH



>
> Hate to say it but with braces for kids, medical
> expenses, taxes and the high cost of living we are
> just a little better than paycheck to paycheck. I
> was driving in the Fountainhead park area this
> weekend and marveling at the multi-million dollar
> mansions. How do people do it?


BRACES ARE AN UNCESSARY EXPENDITURE

Options: ReplyQuote
Re: How do people afford it here?
Posted by: 909090909 ()
Date: December 01, 2015 11:44AM

Johnny Fairfax Wrote:
-------------------------------------------------------
> Late 90s/Early 2000s Housing Lottery Winners.
> Those of us who bought in mid to late 2000s are
> just jealous:
>

Don't be so jealous. Sure we sold our home for 3x what we paid for it, but after counting the upgrades (kitchen, bathroom, hardwood floors, etc) and regular maintenance we only made around 100% over 17 years which is not really all that great. If we had rented and invested all our money we would have probably done around the same if not better. A popular well balanced fund like Vangaurd Wellington, has out performed us a lot of us lottery winners who bought homes in the 90s,

Options: ReplyQuote
Re: How do people afford it here?
Posted by: think again..... ()
Date: December 01, 2015 11:49AM

No thanks... Wrote:
-------------------------------------------------------
> asdfgoiuyf Wrote:
> --------------------------------------------------
> -----
> > Why are you spending $1200 a month on food for
> > four people? I fed a family of four on half
> that.
> > Do you shop at Whole Paycheck? Go to Aldi.
>
> I went to Aldi for the first time yesterday. The
> one at Kamp Washington. It was a poor man's
> Dollar Store. I will never ever attempt to shop
> there again. What an absolute hole.

I thought this initially, until I started buying their products and comparing prices and figuring out their system. Their quality is excellent. Their prices are incredible. They have an absolutely brilliant business model. You have to deal with a few constraints, but I buy the vast majority of what I need there, I don't need to clip coupons, I don't need to keep track of sales, etc. I walk into the regular grocery stores and just laugh. The Giant brand stick butter, for example, is made at the exact same plant, has the exact same wrapper, but is a lot more expensive. Just a different outside box. That's it. Their specialty products are marvelous. I am sold and it didn't take long.

If you don't like something, they give you cash back, no receipt, no questions. Out of the 300+ products I have bought, I have only had to do this once or twice. I think their produce generally holds up better. I think it is handled less due to their display procedures. I can buy a whole bag of onions for what I pay for one or two at a regular store. Same with potatoes. Etc. etc. etc.

I think one of the best things about that place is watching people load up their Mercedes, Volvos, etc. and then PUT THEIR CART BACK WHERE IT BELONGS instead of leaving the things all over the parking lot like pompous asses.

Only fools pay full price.

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Re: How do people afford it here?
Posted by: FWeVF ()
Date: December 01, 2015 12:06PM

Uncle Pennybags Wrote:
-------------------------------------------------------
> For many people a mortgage is the lowest-cost debt
> they have. It's often the LAST thing you should
> be racing to pay off. While the train may have
> already left the station or be about to, the far
> wiser thing over the past decade or so has been to
> refinance and refinance and then refinance again.


Ah, one of the "good debt" people. Having paid off my house and carrying no other consumer debt, I can say there are few things as comforting as knowing you are not in debt.

Are there wiser financial decisions? Probably. But you cannot put a price on the security of knowing a house is paid off. Also, paying off a 4% loan in the example I gave above is a guaranteed savings of $120K in interest for a relatively minor adjustment to your mortgage payments.

Out of curiosity, I looked up the S&P 500 total return during the period I was "racing" to pay off my mortgage. It was -0.13% in the 10 years between 2000 and 2010. Guess I didn't miss out on too much.

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Re: How do people afford it here?
Posted by: Uncle Pennybags ()
Date: December 01, 2015 12:12PM

The blind don't always know what they're missing either. Debt and chainsaws are meanwhile both tools. It's the silly person who lets simple fear dissuade him from the prudent use of either one.

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Re: How do people afford it here?
Posted by: 909090909 ()
Date: December 01, 2015 12:22PM

FWeVF Wrote:
-------------------------------------------------------
> Uncle Pennybags Wrote:
> --------------------------------------------------
>
> Out of curiosity, I looked up the S&P 500 total
> return during the period I was "racing" to pay off
> my mortgage. It was -0.13% in the 10 years
> between 2000 and 2010. Guess I didn't miss out on
> too much.


You can cherry pick 10 years for any asset class and find a bad decade.

In the long term, stocks returns have always been much higher than 4%. My mortgage interest rate is 3.5%, not counting interest deductions. I get 3% in dividends alone.

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Re: How do people afford it here?
Posted by: Cities And Counties and Taxes ()
Date: December 01, 2015 12:26PM

>or we can get other folks to help out by passing a meals tax.

See what the difference is between Cities and Taxes they keep and Counties in Virginia. That's why Virginia Beach, Chesapeake other places became Cities. And a City has a Mayor .. some one in Charge. No Ones in Charge in Fairfax County, unless you call a 3 Ring Circus "Being in Charge".

"Board of Supervisors" is a quaint form of Govt for a county of 35000 people , not 1.1 million

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Uncle Pennybags ()
Date: December 01, 2015 12:45PM

909090909 Wrote:
-------------------------------------------------------
> In the long term, stocks returns have always been
> much higher than 4%.

That's nice. But it would be a big mistake to plan based on a belief that you can earn future returns of more than 2% after inflation, fees, taxes, and a handful of 10% losses of principal.

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Re: How do people afford it here?
Posted by: go figger.. ()
Date: December 01, 2015 12:47PM

*****Uncle Pennybags Wrote:
-------------------------------------------------------
> For many people a mortgage is the lowest-cost debt
> they have. It's often the LAST thing you should
> be racing to pay off. While the train may have
> already left the station or be about to, the far
> wiser thing over the past decade or so has been to
> refinance and refinance and then refinance again.


Ah, one of the "good debt" people. Having paid off my house and carrying no other consumer debt, I can say there are few things as comforting as knowing you are not in debt.*****


-----------------------------------
If you pay off a 4% mortgage early you are doing far worse things than being in debt on a mortgage. You have lost opportunities to grow your money in stocks. As long as the average return is greater than your mortgage interest rate (and calculate out the tax rebate) you are losing money paying off your mortgage. Stocks might not have done well over the 10 year period, but take a 30 year mortgage and re-do the calculations.

Don't tie up your money in your house by paying it off early. Put it in stocks where it can grow and multiply. There are few things as comforting as knowing that you have used your money intelligently.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: S and P fan ()
Date: December 01, 2015 12:52PM

30 years ago the S and P was about 100. It is just over 2000 right now. That is a tenfold return on your money. There have been ups and downs, that is for sure. You can skim your dividends for extra cash. It is very hard to get money out of your house.

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Re: How do people afford it here?
Posted by: 909090909 ()
Date: December 01, 2015 12:59PM

Yep, point is, you don't have to be a 90s NOVA home owner lottery winner to afford afford a nice home these days. There are and have been much better investments than NoVA RE.


I have already spent any appreciation I may see in the next 5 years on home improvements to my new home.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Uncle Pennybags ()
Date: December 01, 2015 01:02PM

You don't earn returns based on a straight line between now and 30 years ago. That sort of assumption would be taken directly from the financial planning chapter called "Stupid Things To Do".

Options: ReplyQuote
Re: How do people afford it here?
Posted by: S and P typo ()
Date: December 01, 2015 01:05PM

S and P fan Wrote:
-------------------------------------------------------
> 30 years ago the S and P was about 100. It is just
> over 2000 right now. That is a tenfold return on
> your money. There have been ups and downs, that is
> for sure. You can skim your dividends for extra
> cash. It is very hard to get money out of your
> house.


typo-it was about 200.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: long haul stock buyer ()
Date: December 01, 2015 01:07PM

909090909 Wrote:
-------------------------------------------------------
> Yep, point is, you don't have to be a 90s NOVA
> home owner lottery winner to afford afford a nice
> home these days. There are and have been much
> better investments than NoVA RE.
>
>
> I have already spent any appreciation I may see in
> the next 5 years on home improvements to my new
> home.


The maintenance on houses will suck you dry. You need to keep a lot of spare cash readily available for a new roof, driveway, etc. If it is tied up in your house, it is hard to get to.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Take a step back... ()
Date: December 01, 2015 01:10PM

You have to live somewhere. Do you think you escape maintenance costs by renting?

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Re: How do people afford it here?
Posted by: True the vote! ()
Date: December 01, 2015 01:12PM

If you're an illegal Central American, Obozo will give you free housing!

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Re: How do people afford it here?
Posted by: well...... ()
Date: December 01, 2015 01:15PM

Take a step back... Wrote:
-------------------------------------------------------
> You have to live somewhere. Do you think you
> escape maintenance costs by renting?


Actually, renters don't have to replace roofs and driveways. They still have some minor things they have to pay for.
And you do have to live somewhere. I rented for years and never once considered it was like throwing my money away. I put everything I would have spent on closing costs, maintenance, etc. into stocks and made a killing.
By the time you buy in, sell out, and maintain your home you are lucky to make anything at all, depending on how long you live there. Don't count on making money on a house. It will suck you dry.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Bill.N. ()
Date: December 01, 2015 01:22PM

Many who appear to be doing very well in this area are actually living paycheck to paycheck or are even falling behind. When you drive past that $1M home you don't see the rising credit card debt, the cars that are not and probably won't be paid for, the periodic refinances of the house in order to pull out cash and the unpaid bills. I realize this allows those people to live the lifestyle they want, but I prefer to live in a more modest house that is about paid for, cash in the bank and a large retirement fund.

You can easily live well on $150k or less in this area. You can also have a hard time making it on $200k or more. Quite often it comes down to choices and a little luck.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: GFer ()
Date: December 01, 2015 01:43PM

Bill.N. Wrote:
-------------------------------------------------------
> Many who appear to be doing very well in this area
> are actually living paycheck to paycheck or are
> even falling behind. When you drive past that $1M
> home you don't see the rising credit card debt,
> the cars that are not and probably won't be paid
> for, the periodic refinances of the house in order
> to pull out cash and the unpaid bills.

You just described half of Great Falls.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: yj9Hh ()
Date: December 01, 2015 01:51PM

well...... Wrote:
-------------------------------------------------------
> Don't count
> on making money on a house. It will suck you dry.


Very true. I sold for 2X what I paid even after the market drop, but if you add up all of the updating/renovating/maintenance, I didn't clear anywhere near that.

A house is a relatively secure place to stash your money over the long term, but don't count on making a killing. And in the end, some of it is just chance. We had two below listing price offers and one stupid offer that was 50K above list from someone who was clearly unqualified, but it was enough to start a little bidding war. If those folks hadn't walked through the open house, I'd be 50K poorer today. You never know how it will play out.

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Re: How do people afford it here?
Posted by: Take a step back... ()
Date: December 01, 2015 01:56PM

well...... Wrote:
-------------------------------------------------------
> Actually, renters don't have to replace roofs and driveways.

That's just absolutely laughable!!!

> Don't count on making money on a house. It will suck you dry.

Perhaps if your canteen was empty to begin with. Houses otherwise have long been a key to wealth-building. They still are despite the stupid mess that Bush-43 ran everybody through.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: exactly!!!!!!!! ()
Date: December 01, 2015 02:02PM

Bill.N. Wrote:
-------------------------------------------------------
> Many who appear to be doing very well in this area
> are actually living paycheck to paycheck or are
> even falling behind. When you drive past that $1M
> home you don't see the rising credit card debt,
> the cars that are not and probably won't be paid
> for, the periodic refinances of the house in order
> to pull out cash and the unpaid bills. I realize
> this allows those people to live the lifestyle
> they want, but I prefer to live in a more modest
> house that is about paid for, cash in the bank and
> a large retirement fund.
>
> You can easily live well on $150k or less in this
> area. You can also have a hard time making it on
> $200k or more. Quite often it comes down to
> choices and a little luck.

Thank you Bill N., as usual. The voice of reason. You don't know what is going on until you start looking at bank statements, tax returns, investment accounts, credit card statements, bills, etc. Some of these people are spending everything they have, thinking that their house is eventually going to save them after years of poor money management and extreme living. I don't even care about a house that is close to being paid for, because I prefer my money more liquid. I will take my chances on having it in my very boring investments instead.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: That's really dumb ()
Date: December 01, 2015 02:06PM

Bill.N. Wrote:
-------------------------------------------------------
> Many who appear to be doing very well in this area are actually
> living paycheck to paycheck or are even falling behind. When you
> drive past that $1M home you don't see the rising credit card debt,
> the cars that are not and probably won't be paid for, the periodic
> refinances of the house in order to pull out cash and the unpaid bills.
> I realize this allows those people to live the lifestyle they want,
> but I prefer to live in a more modest house that is about paid for,
> cash in the bank and a large retirement fund.

You also seem to prefer making up total nonsense about the financial situations of people you don't even know simply in order to make yourself feel better somehow. A million-dollar home isn't really all that much anymore, but those who live in them are highly likely to be doing quite well financially, this despite all the horrors you like to imagine for them.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: That's really dumb, too ()
Date: December 01, 2015 02:11PM

GFer Wrote:
-------------------------------------------------------
> You just described half of Great Falls.

Babble, babble, babble. You don't know anymore inside details than bozo Bill N. does. The wealthy and well-to-do are NOT on their last legs. They live better than you do every single day, and that will be continuing indefinitely.

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Re: How do people afford it here?
Posted by: KL9pT ()
Date: December 01, 2015 02:11PM

well...... Wrote:
-------------------------------------------------------
> Take a step back... Wrote:
> --------------------------------------------------
> -----
> > You have to live somewhere. Do you think you
> > escape maintenance costs by renting?
>
>
> Actually, renters don't have to replace roofs and
> driveways. They still have some minor things they
> have to pay for.
> And you do have to live somewhere. I rented for
> years and never once considered it was like
> throwing my money away. I put everything I would
> have spent on closing costs, maintenance, etc.
> into stocks and made a killing.
> By the time you buy in, sell out, and maintain
> your home you are lucky to make anything at all,
> depending on how long you live there. Don't count
> on making money on a house. It will suck you dry.


True. People greatly overestimate how much gain they've made in a house that they live in for any length of time since they tend to just look at what they paid vs their assessment or what it may sell for.

In addition to maintenance, there's also interest expense, insurance and taxes, the cost of selling on the back end, and inflation. And as you say you really also need to factor in opportunity costs to do a valid comparison as an investment.

If you add it all up and do a harder analysis then it's not nearly as much of a deal as it's typically presented. Most will end up doing somewhat better than breaking even and mostly it amounts to a form of forced savings.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: TvhXJ ()
Date: December 01, 2015 02:13PM

GFer Wrote:
-------------------------------------------------------
> Bill.N. Wrote:
> --------------------------------------------------
> -----
> > Many who appear to be doing very well in this
> area
> > are actually living paycheck to paycheck or are
> > even falling behind. When you drive past that
> $1M
> > home you don't see the rising credit card debt,
> > the cars that are not and probably won't be
> paid
> > for, the periodic refinances of the house in
> order
> > to pull out cash and the unpaid bills.
>
> You just described half of Great Falls.

What's very hard to see is the $0 is college savings, which means little Madison and Chase will come out of school with 50K+ in student loans, condemning them to spending the first 10-15 years of their life mired in debt.

But hey, the landscaping looks good.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: That's also really dumb ()
Date: December 01, 2015 02:19PM

exactly!!!!!!!! Wrote:
-------------------------------------------------------
> Thank you Bill N., as usual. The voice of reason. You don't know what
> is going on until you start looking at bank statements, tax returns,
> investment accounts, credit card statements, bills, etc.

Exactly NONE OF WHICH has been done by Bill N. or any other of you envious cretins. What you people consider to be foolish and excessive spending may very well be an example of cautious spending as against what a well-to-do person actually could afford to spend while still being within the bounds of financial reason. You don't know what the facts are, but are simply too messed up to admit that.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: That's exceptionally dumb ()
Date: December 01, 2015 02:22PM

KL9pT Wrote:
-------------------------------------------------------
> If you add it all up and do a harder analysis then
> it's not nearly as much of a deal as it's
> typically presented. Most will end up doing
> somewhat better than breaking even and mostly it
> amounts to a form of forced savings.

Take a class. 90% of what you said here is simply off the hook wrong.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: no............. ()
Date: December 01, 2015 02:24PM

That's also really dumb Wrote:
-------------------------------------------------------
> exactly!!!!!!!! Wrote:
> --------------------------------------------------
> -----
> > Thank you Bill N., as usual. The voice of
> reason. You don't know what
> > is going on until you start looking at bank
> statements, tax returns,
> > investment accounts, credit card statements,
> bills, etc.
>
> Exactly NONE OF WHICH has been done by Bill N. or
> any other of you envious cretins. What you people
> consider to be foolish and excessive spending may
> very well be an example of cautious spending as
> against what a well-to-do person actually could
> afford to spend while still being within the
> bounds of financial reason. You don't know what
> the facts are, but are simply too messed up to
> admit that.

I very specifically said you have to look closely at the numbers. If they cannot pay off their credit cards, don't have substantial savings, are spending every dollar, are mortgaged to the hilt, then things are not good.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: That's beyond dumb ()
Date: December 01, 2015 02:25PM

TvhXJ Wrote:
-------------------------------------------------------
> What's very hard to see is the $0 is college
> savings, which means little Madison and Chase will
> come out of school with 50K+ in student loans,
> condemning them to spending the first 10-15 years
> of their life mired in debt. But hey, the landscaping
> looks good.

It's EASY to see. You're as dumb as a stick, and look how simple it was for you to make up a pile of baseless shit.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: GFer ()
Date: December 01, 2015 02:25PM

That's really dumb, too Wrote:
-------------------------------------------------------
> GFer Wrote:
> --------------------------------------------------
> -----
> > You just described half of Great Falls.
>
> Babble, babble, babble. You don't know anymore
> inside details than bozo Bill N. does. The
> wealthy and well-to-do are NOT on their last legs.
> They live better than you do every single day,
> and that will be continuing indefinitely.

Well I live in Great Falls, and see and speak to my neighbors and kids classmates. I'd say 1/2 of Great Falls is over the top wealthy, either execs or business owners, or doctors or lawyers. They have nothing to worry about. A surprising number are under 55 years old and retired.

The other 1/2 would like to be rich, but are not. You don't have to hear too many kids discussions of college finance or see what people's houses look like inside to make a pretty educated guess on which 1/2 they belong to. Just because you live in a wealthy zip code doesn't mean you are. When you see the parents of high school students desperate for the (any) state school admission and the ridiculous pursuit of sports scholarships you figure out that that is their college financing plan. When your way to afford school is an athletic scholarship, you are not all that different that Southeast really.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: KFCYV ()
Date: December 01, 2015 02:27PM

That's exceptionally dumb Wrote:
-------------------------------------------------------
> KL9pT Wrote:
> --------------------------------------------------
> -----
> > If you add it all up and do a harder analysis
> then
> > it's not nearly as much of a deal as it's
> > typically presented. Most will end up doing
> > somewhat better than breaking even and mostly
> it
> > amounts to a form of forced savings.
>
> Take a class. 90% of what you said here is simply
> off the hook wrong.


No, actually it's not. Put up some typical numbers and math will prove that I'm right.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Worse than I thought ()
Date: December 01, 2015 02:32PM

no............. Wrote:
-------------------------------------------------------
> I very specifically said you have to look closely
> at the numbers. If they cannot pay off their
> credit cards, don't have substantial savings, are
> spending every dollar, are mortgaged to the hilt,
> then things are not good.

LOL! You don't know squat about these people. You haven't studied any of their papers or numbers and don't know jack-shit about their actual financial situations. That won't keep you and these other dumbshits from inventing all sorts of speculative nightmares for these people. What a bunch of colossal failures!

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Frugal fanny ()
Date: December 01, 2015 02:32PM

True that on the wealthy scraping by.

As an HR Director for a Gov't Contractor, had to tell the employees that they had to kick in $50 a month for thier Health Insurance under Obama. These people make $150K + each.

You would have thought I shot thier dogs.
Oh, and once payroll was delayed and did not hit at midnight when they have thier auto pay on, got calls asking us to reimburse late fees.

Just because come make big bucks doesn not mean they know how to manage a single dime.

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Re: How do people afford it here?
Posted by: yes........... ()
Date: December 01, 2015 02:33PM

KFCYV Wrote:
-------------------------------------------------------
> That's exceptionally dumb Wrote:
> --------------------------------------------------
> -----
> > KL9pT Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > If you add it all up and do a harder analysis
> > then
> > > it's not nearly as much of a deal as it's
> > > typically presented. Most will end up doing
> > > somewhat better than breaking even and mostly
> > it
> > > amounts to a form of forced savings.
> >
> > Take a class. 90% of what you said here is
> simply
> > off the hook wrong.
>
>
> No, actually it's not. Put up some typical
> numbers and math will prove that I'm right.


You ARE right. You don't need a class. You just have to have some life experience. I have sold four homes and never did very well. We didn't own them that long. And the longer you own a home, the more you have to sink into it in maintenance, etc. You are fighting a losing battle if you think you are guaranteed a killing on your property. That is TV fiction. You might get lucky, but real estate is a major pain in the ass.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: yes.......... ()
Date: December 01, 2015 02:36PM

Frugal fanny Wrote:
-------------------------------------------------------
> True that on the wealthy scraping by.
>
> As an HR Director for a Gov't Contractor, had to
> tell the employees that they had to kick in $50 a
> month for thier Health Insurance under Obama.
> These people make $150K + each.
>
> You would have thought I shot thier dogs.
> Oh, and once payroll was delayed and did not hit
> at midnight when they have thier auto pay on, got
> calls asking us to reimburse late fees.
>
> Just because come make big bucks doesn not mean
> they know how to manage a single dime.

You have to allow some leeway with autopay because yes there can be a problem with the timing. Many, many people tend to live paycheck to paycheck no matter how much they make.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Worse than I thought ()
Date: December 01, 2015 02:39PM

GFer Wrote:
-------------------------------------------------------
> Well I live in Great Falls, and see and speak to
> my neighbors and kids classmates.

Your sources are neighborhood gossip and the prattle of some bunch of fifth-graders? How can anyone be as stupid as that? You don't know what the hell is going on around you. You are not privy to the personal information of your neighbors. But you're more than happy to try passing yourself off here as some expert on the basis of absolutely nothing. What an assclown!

Options: ReplyQuote
Re: How do people afford it here?
Posted by: d44Lb ()
Date: December 01, 2015 02:42PM

That's exceptionally dumb Wrote:
-------------------------------------------------------
> KL9pT Wrote:
> --------------------------------------------------
> -----
> > If you add it all up and do a harder analysis
> then
> > it's not nearly as much of a deal as it's
> > typically presented. Most will end up doing
> > somewhat better than breaking even and mostly
> it
> > amounts to a form of forced savings.
>
> Take a class. 90% of what you said here is simply
> off the hook wrong.

S&P 500 - 1990 - 2014 - 10.278% annual return
Case-Shiller Home Price Index (10 City) - 1990 - 2014 - 3.3% annual return

100K in the S&P 500 turns to $1.15M, 100K in house turns to 225K.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Worse than I thought ()
Date: December 01, 2015 02:44PM

Frugal fanny Wrote:
-------------------------------------------------------
> True that on the wealthy scraping by.

Government contractors are not wealthy. Some of the people who own and run the shops that market contractors to the government are wealthy.

> Just because come make big bucks doesn not mean they know how
> to manage a single dime.

Good Lord! Learn the difference between a stock and a flow.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: CFO ()
Date: December 01, 2015 02:45PM

Frugal fanny Wrote:
-------------------------------------------------------

> As an HR Director for a Gov't Contractor, had to
> tell the employees that they had to kick in $50 a
> month for thier Health Insurance under Obama.
> These people make $150K + each.

People are finding out how much it costs to keep their 25 year old "children" on their insurance for "free". People with adult children on insurance are getting killed this year.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Worse than I thought ()
Date: December 01, 2015 02:47PM

yes........... Wrote:
-------------------------------------------------------
> ...real estate is a major pain in the ass.

Or perhaps you just aren't any good at it. That said, both work and investing of any sort are likely to be a pain in the ass. If you expect the Easy Street Taxi to stop by and pick you up, you're super just plain doing it wrong.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Worse than I thought ()
Date: December 01, 2015 02:53PM

CFO Wrote:
-------------------------------------------------------
> People with adult children on insurance are getting killed this year.

LOL! Why don't these kids jump off and get policies of their own. They're allowed to do that, you know.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: asekjrklkedk ()
Date: December 01, 2015 02:59PM

Worse than I thought Wrote:
-------------------------------------------------------

> LOL! Why don't these kids jump off and get
> policies of their own. They're allowed to do that,
> you know.

Libtard parents will have none of that. There's no way in hell a libtard parent would ask a 25 yr old adult to be self-sufficient.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Bill.N. ()
Date: December 01, 2015 02:59PM

I realize, That's really dumb, that you think I am just making shit up and you are enjoying trolling this thread. However humor me for a moment and think of all the different types of people who might have that kind of information for a large number of individuals. Here's a partial list:
1. Personal Financial Advisors
2. Estate Planners
3. Insurance Agents
4. Tax Collection Agents
5. Divorce Lawyers
6. Financing personnel at lending institutions
7. Financing personnel at other businesses including doctors offices which offer to finance goods or services
8. Marriage Counsellors
9. Credit Counsellors
10. Good friends, drinking buddies or co-workers of the above who may not know the financially strapped individuals by name but who still hear the stories of their financial situation.

Happy trolling my friend.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: PeGpx ()
Date: December 01, 2015 03:00PM

It's now 98 dollars and change for a 2 year registration at the DMV -- and that's with the 2 dollar discount.
this may seem like small beans to most, but I'm sure if a real study of the cost of living in this region were done -- food, rent, taxes, fees, insurance, durable goods, etc. -- one would find it is increasingly difficult to live comfortably -- especially if one's salary has not gone up/

Options: ReplyQuote
Re: How do people afford it here?
Posted by: That's really dumb ()
Date: December 01, 2015 03:09PM

Bill.N. Wrote:
-------------------------------------------------------
> I realize, That's really dumb, that you think I am just making shit
> up and you are enjoying trolling this thread.

Just pointing out what are the obvious facts here. Not trolling anything. You are NOT all of the different types of people you listed, and no one of them would have the facts for any large number of people across any entire area in any case. You are slinging boatloads of bullshit here, All I'm doing is calling you on it. You've been caught as expected with no backup. Even though you don't actually know any of them, you owe a lot of people an apology.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: CFO ()
Date: December 01, 2015 03:11PM

Worse than I thought Wrote:
-------------------------------------------------------
> CFO Wrote:
> --------------------------------------------------
> -----
> > People with adult children on insurance are
> getting killed this year.
>
> LOL! Why don't these kids jump off and get
> policies of their own. They're allowed to do that,
> you know.

I think that's the plan. 0 - 18 years old costs the same, but 18+ goes up incrementally til 26. Not sure if it's government or insurance companies, but it seems someone has decided that the adult "children" should be paying for their own policies. They will be priced off of their parents policies in the next few years.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: yes.......... ()
Date: December 01, 2015 03:15PM

d44Lb Wrote:
-------------------------------------------------------
> That's exceptionally dumb Wrote:
> --------------------------------------------------
> -----
> > KL9pT Wrote:
> >
> --------------------------------------------------
>
> > -----
> > > If you add it all up and do a harder analysis
> > then
> > > it's not nearly as much of a deal as it's
> > > typically presented. Most will end up doing
> > > somewhat better than breaking even and mostly
> > it
> > > amounts to a form of forced savings.
> >
> > Take a class. 90% of what you said here is
> simply
> > off the hook wrong.
>
> S&P 500 - 1990 - 2014 - 10.278% annual return
> Case-Shiller Home Price Index (10 City) - 1990 -
> 2014 - 3.3% annual return
>
> 100K in the S&P 500 turns to $1.15M, 100K in house
> turns to 225K.


Trying to make a killing on a house is a losing proposition. It requires too much maintenance and other costs. You might get lucky. You probably won't.

When stocks go down, you pour an adult beverage and hang on to them. And buy more. Hopefully you are indexed and when the market goes back up, things will be better. If you are loaded up with individual companies and they don't survive, not so much. Unless you are a day trader, etc. and then go right ahead and live dangerously.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Really... ()
Date: December 01, 2015 03:25PM

PeGpx Wrote:
-------------------------------------------------------
> this may seem like small beans to most, but I'm
> sure if a real study of the cost of living in this
> region were done -- food, rent, taxes, fees,
> insurance, durable goods, etc. -- one would find
> it is increasingly difficult to live comfortably
> -- especially if one's salary has not gone up/

Real studies of the cost of living here are done all the time. You just think that everyone who does them is lying for some reason. Meanwhile, if your salary does not go up, it will be increasingly difficult to live comfortably no matter where you live.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: nCk9m ()
Date: December 01, 2015 03:28PM

asekjrklkedk Wrote:
-------------------------------------------------------
> Worse than I thought Wrote:
> --------------------------------------------------
> -----
>
> > LOL! Why don't these kids jump off and get
> > policies of their own. They're allowed to do
> that,
> > you know.
>
> Libtard parents will have none of that. There's no
> way in hell a libtard parent would ask a 25 yr old
> adult to be self-sufficient.

If your adult child < 26 can pay $100 per pay period for their own insurance, or you can add them to your policy for $50 and pick up some subsidy from your employer, what parent wouldn't do that? You are a chump if you don't.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Life is about sacrifice ()
Date: December 01, 2015 03:43PM

If you can't make it on what you got, then move. Most who are bitching and moaning are Carpetbaggers to begin with. What did you move here for?

Options: ReplyQuote
Re: How do people afford it here?
Posted by: Worse than I thought ()
Date: December 01, 2015 03:45PM

yes.......... Wrote:
-------------------------------------------------------
> Trying to make a killing on a house is a losing proposition. It
> requires too much maintenance and other costs. You might get lucky.
> You probably won't.

Trying to "make a killing" on any investment is a fool's errand. Only novices think in such terms.

The purpose of buying a house meanwhile is to own your own source of residential services. You could of course rent to obtain those services as well, but you would still pay as part of your rent for all the maintenance, insurance, and taxes that the landlord has to cover. He's not going out-of-pocket for any of that, and he's keeping all the tax deductions for himself as well.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: day trader of ffxu ()
Date: December 01, 2015 04:05PM

I bought 100,000 shares of KBIO at .90c per share. I made a killing.

Didn't have to deal with any tenants either.

Options: ReplyQuote
Re: How do people afford it here?
Posted by: day trader of ffxu ()
Date: December 01, 2015 04:06PM

Martin Shkreli is my nigga, so I got the scoop on these things,


Martin-Shkreli-via-Twitter-800x430.png

Options: ReplyQuote
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