Real Estate Crash thread

[Danno]

That $100k may be an exaggerated number. We helped my daughter buy her 1st place with a $30k gift. The deal in the family is we will do our best to match what you save to buy a place. Whatever his parents contribute, we should not assume it is nothing for them to give, but parents will sacrifice for the children's good in many cases. Even if they are a big cunt on the internetz

That's true too, I just threw out 50-100k because I knew some people would see that number and respond "OMGWTFBBQ, so wealthy!!!!!"

[hatchgreenchile]

No one wants to admit it because its trendy to hate the rich but almost all of you are. Some worked for it, some didn't, but one of the most annoying things in the fucking world to the average joe is when rich people try and play poor.

FKNA - spot on.

I was hoping the "Lower / middle / upper class" thread would turn into the wealthier mags tripping over themselves to create some veneer of modesty, but it fizzled out pretty quickly.

I don't know Glademaster from a Stairmaster, but with a name like that, he better rip the trees.

[schuss]

That $100k may be an exaggerated number. We helped my daughter buy her 1st place with a $30k gift. The deal in the family is we will do our best to match what you save to buy a place. Whatever his parents contribute, we should not assume it is nothing for them to give, but parents will sacrifice for the children's good in many cases. Even if they are a big cunt on the internetz

you own multiple houses north of a million, to my knowledge. You're a 1-2%er

[fastfred]

this place is getting ugly
no one else is getting high this morning?

[Conundrum]

That’s an after hours libation for me. Luckily I set my hours.

[rideit]

That's true too, I just threw out 50-100k because I knew some people would see that number and respond "OMGWTFBBQ, so wealthy!!!!!"

Great, now I want BBQ FOR LUNCH.

[skaredshtles]

Great, now I want BBQ FOR LUNCH.

Authentic BBQ?

[fastfred]

That’s an after hours libation for me. Luckily I set my hours.

so are you done for the day? ready to party like a rich kid?
or are you spinning your wheels fighting the man and not getting much done like me this morning?

[dunfree]

If your parents can throw you 100k to buy a house you are definitely well above almost everyone else in the country in terms of assets / wealth / rich / whatever you want to call it. That is 1% territory.

I know this is TGR and we are all dentists and 100k+ a year jobs & six figure down payments fall from the sky, but you guys need a reality check.

Over half this country lives paycheck to paycheck with zero savings. I don't think most of the people here actually know what that means.

No one wants to admit it because its trendy to hate the rich but almost all of you are. Some worked for it, some didn't, but one of the most annoying things in the fucking world to the average joe is when rich people try and play poor.

thats all true, but until the world produces new ways to play the increasing rich are competing for the same pool of assets. I.e. what’s needed isn’t the next ​Jackson, what’s needed is the Jackson for something totally new; it’s not another Pebble Beach where the really rich develop a resort in nowhere it’s a new kind of pebble beach.

[old_newguy]

Average net worth of top 1% is north of 11 million.

Average net worth of top 10% is around 1 million.


You don’t need to be a 1%er to gift your kids some cash to buy a house if you plan ahead for it and make it a priority.

The 1% effectively live on another planet compared to the rest of us. I hate it when people throw it around like it’s some super common thing and everyone who has anything is “rich”.

Yes, I acknowledge that most of the country, by definition is not rich.

[liv2ski]

you own multiple houses north of a million, to my knowledge. You're a 1-2%er

Keep fucking that chicken pal. I define "Rich" by disposable monthly income, not assets locked up that you will not sell in your lifetime. If your monthly gross income is $50k+, your doing really well (I am no where close to that by the way) $100k a month, then ya, I would say you're rich. To of bought middle class properties in CA 30+ years ago that are now worth a bunch more makes you equity well off (if you intend to sell) but then again, not really, as everything cost so much, selling actually results in a loss when your in our shoes. So ya, fuck off troll.

[Conundrum]

so are you done for the day? ready to party like a rich kid?
or are you spinning your wheels fighting the man and not getting much done like me this morning?

I'll check back in a couple hours.

Average net worth of top 1% is north of 11 million.

Average net worth of top 10% is around 1 million.


You don’t need to be a 1%er to gift your kids some cash to buy a house if you plan ahead for it and make it a priority.

The 1% effectively live on another planet compared to the rest of us. I hate it when people throw it around like it’s some super common thing and everyone who has anything is “rich”.

Yes, I acknowledge that most of the country, by definition is not rich.

What's your definition of rich? Are 99% or 90% not rich? Is there another number? Yeah, most of the country isn't but this must be defined in monetary terms. Because that is how it is done. How will we argue who gets sterilized then eaten without the number? And apparently behind chips and lumber, there is now a sauce shortage? Are the rich finished on corn and don't need sauce?

[Danno]

Average net worth of top 1% is north of 11 million.

Average net worth of top 10% is around 1 million.


You don’t need to be a 1%er to gift your kids some cash to buy a house if you plan ahead for it and make it a priority.

The 1% effectively live on another planet compared to the rest of us. I hate it when people throw it around like it’s some super common thing and everyone who has anything is “rich”.

Yes, I acknowledge that most of the country, by definition is not rich.

Exactly. While some in this forum are no doubt in the top 10%, and maybe we even actually have 1 or 2 or a handful in the 1%er group, some of the people in this thread seem to think that having anything disposable makes you a 1%er or "rich". Some also think that objecting to being classified as "rich" means you are "playing poor". I am not poor. I know this because I have been poor in my life and where I am right now ain't there (and as I acknowledged earlier, I had a safety net that many do not have). But not being poor doesn't mean I'm rich.

[AdironRider]

Average net worth of top 1% is north of 11 million.

Average net worth of top 10% is around 1 million.


You don’t need to be a 1%er to gift your kids some cash to buy a house if you plan ahead for it and make it a priority.

The 1% effectively live on another planet compared to the rest of us. I hate it when people throw it around like it’s some super common thing and everyone who has anything is “rich”.

Yes, I acknowledge that most of the country, by definition is not rich.

I said territory. The point is you are wealthy (whether that be the top 1% or 10% is semantics) if you can throw a six figure down payment to your kid free and clear.

If we want to argue semantics I'd argue that the 10% person isn't throwing 10% of their life's work (in terms of wealth) at their kid at any point other than possibly when they die.

And to Danno's point about living paycheck to paycheck, being a ski bum with a safety net doesn't count. You aren't living paycheck to paycheck if you can just call mom and dad when you can't make rent. That this even needs to be explained just proves my point that most here don't even understand what broke really is.

[Danno]

I'll check back in a couple hours.



What's your definition of rich? Are 99% or 90% not rich? Is there another number? Yeah, most of the country isn't but this must be defined in monetary terms. Because that is how it is done. How will we argue who gets sterilized then eaten without the number? And apparently behind chips and lumber, there is now a sauce shortage? Are the rich finished on corn and don't need sauce?

Definitions??? Why yes, let's define it with numbers! Instead of just throwing around the term "rich" like it's a pejorative (and yes, I recognize the irony here, "defending" glade as not necessarily being rich when he's the one who used it as a pejorative in the first place).

I think top 10% is a reasonable metric for "rich". Although I personally think $1M in net worth isn't really wealthy, IMV "rich" should mean something more than that.

[old_newguy]

I'll check back in a couple hours.



What's your definition of rich? Are 99% or 90% not rich? Is there another number? Yeah, most of the country isn't but this must be defined in monetary terms. Because that is how it is done. How will we argue who gets sterilized then eaten without the number? And apparently behind chips and lumber, there is now a sauce shortage? Are the rich finished on corn and don't need sauce?

I just like to redefine it for whatever conversation I am in and handwave away any criticism of my definition despite there being generally widely used and accepted definitions of such things.

But no matter what definition we use, if you have a GOTOS or van life rig or live in a certain area of the country automatically assume you are rich.

[AdironRider]

But no matter what definition we use, if you have a GOTOS or van life rig or live in a certain area of the country automatically assume you are rich.

I can get behind this definition. "Does this Sprinter make my trust fund look big?"

[abraham]

Definitions??? Why yes, let's define it with numbers! Instead of just throwing around the term "rich" like it's a pejorative (and yes, I recognize the irony here, "defending" glade as not necessarily being rich when he's the one who used it as a pejorative in the first place).

I think top 10% is a reasonable metric for "rich". Although I personally think $1M in net worth isn't really wealthy, IMV "rich" should mean something more than that.

Since we're all so distracted, I think getting in a bidding war for a $135 million dollar ranch counts as rich.

[Toadman]

10% equals well off. 1% equals rich. 0.1% equals wealthy .

[old_newguy]

If you have to have a debate about whether you are rich or not, you definitely aren’t wealthy.

[muted reborn]

I'm ballin' on a budget over here.

[Danno]

10% equals well off. 1% equals rich. 0.1% equals wealthy .

if old_newguy's numbers are correct, then I agree with this.

Since we're all so distracted, I think getting in a bidding war for a $135 million dollar ranch counts as rich.

Are you sure he isn't living $200M paycheck to $200M paycheck?

[Ted Striker]

If you have to have a debate about whether you are rich or not, you definitely aren’t wealthy.

Yeah, that's what I've been thinking reading this. Wealthy = money is no object.

If a net worth ≥ 1 million is top 10%, we're all ten percenters in this thread.

[AK47bp]

I don't know Glade, but I think calling him rich is a big stretch, just because his parents were going to help him buy a place 30 minutes from Aspen. Rich is all relative, by some metrics we're all rich. But if you have to work for a living, and need some parental help to buy a modest roof over your head, that doesn't fit most people's definitions. And the fact that one has parents that may be able to kick 50k or 100k or whatever into your down payment hardly indicates that those parents, let alone the kid of those parents, is rich.

Wow.




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[schuss]

Keep fucking that chicken pal. I define "Rich" by disposable monthly income, not assets locked up that you will not sell in your lifetime. If your monthly gross income is $50k+, your doing really well (I am no where close to that by the way) $100k a month, then ya, I would say you're rich. To of bought middle class properties in CA 30+ years ago that are now worth a bunch more makes you equity well off (if you intend to sell) but then again, not really, as everything cost so much, selling actually results in a loss when your in our shoes. So ya, fuck off troll.

Not starting a fight here, just calling a spade a spade. You COULD sell one of your places and have fuck-you levels of cash available for daily usage. You don't as a choice. I am not agreeing or disagreeing with your choice, it's just reality. You just keep moving the goalposts on "rich" to justify that you're a normal person when you aren't. There's no call to be ashamed of the success you've had, even if some of it was luck-based (as it is with most). I've lucked into 60%+ value bumps on my property in the past few years and my family makes way more than median for the area. Am I ashamed of that? No. Do I have "normal" resources compared to my peers in the area? No, I have more.
Rich isn't a bad word if you aren't an asshole.