Does anyone else feel like they are just falling behind with the price increases for our big ticket items such as cars and homes? Like I started working in 2017 and I realized I couldn’t make it the way I wanted on $105k so now I’m at around $250k and I got some rentals but all of the homes in my area have doubled in price since 2020 so from $500k to $1m or above so I feel like I’m still just as financially tight now and cars seem just as unobtainable as when I first started.

likefunnyhelpfulsmart
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Now think about how all the people who made $35k back in 2017, lived off unemployment during the pandemic and now make $35k again feel.

Listen to yourself. You’re complaining that you only own a few houses.

likefunnysmarthelpfuluplifting

I think the point everyone is trying to make is this isn’t a problem. Not being able to afford a basic house to shelter yourself and your family is a problem. Not being able to afford several homes to make more money off of is not … If OP realized this, I think they would be a lot better off and not let this “lack of excess” stress them as much.

likesmartfunny

Wait I’m sorry by “a few rentals” you mean you already own multiple dwellings? What? Most people are just hoping to own 1 someday

likefunnysmarthelpfuluplifting

Yeah definitely, so the first is by far the hardest but usually you can put as little as 3% down if you’re a “first time homebuyer” so if you are buying let’s say a $500k home you can get it with $15k down and $10k or so closing costs although I must mention closing costs vary a lot by location. But by grinding initially to get that 30-50k together you can totally start. Currently interest rates have increased over 50% from 3% to 5% but you can always refi down the line should they decrease again to lower your monthly payment

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What kind of car is “unobtainable” on a $250K salary? I am always so amused by these types of posts.

If you’re financially tight after more than doubling your salary, you probably need to take a look at your expenses and adjust how you’re living.

likesmartfunny

Everyone's different but 250k when you have obligations like a home and a family doesn't go as far as it should. Assuming you have healthy spouse and kids with no issues. After investments/savings, debt service, and if you're following the right rule of 10% of gross salary for a car you don't have a lot to choose from.

I always buy preowned and well maintained cars from enthusiasts but those are hard to find sometimes.

You’re right, the price of cars and homes are as high as they have ever been.

But the reality is that most people do not make $250k. If you want to talk about how things are financially tight for you, don’t be surprised if it falls on deaf ears or if people can’t relate. The majority of people (even in this fishbowl) make less than that, and they need cars and homes too. And we’re not talking about Porsches and third homes here.

likesmart

🤦🏻‍♂️

“Hey DMS1, why don’t you try just being less poor?”

likefunny

VP where are these rentals you own? I saw that you saved like crazy but I’m sorry this reeks of getting financial help from parents or some other funding. All my friends who try to say they have a second home based on their “saving” are full of total horse shit. I’m in NY and in fact NONE of my friends bought their sole dwelling without help from parents - which I find really pretty sad but that’s just my personal POV.

likefunnyuplifting

I don’t understand all the hatred towards OP. He is trying to make money, like ALL of you. He found a good investment and he is monetizing this. Isn’t this what we all do when asking for a raise or investing in stock? Come on…

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Imagine being this out of touch with reality. Meanwhile I’m out working at a big 4 firm for like $4/hour if you run the average.

likefunnyuplifting

Guys help what’s a hyperbole?

likefunny

Falling behind what exactly? I raise 4 kids on an $80K salary. Get a grip.

I suggest you leave any stupid d*** measuring groups, get a hobby, and chill out. As long as you make minimal effort from this point, you’ll retire just fine. And by “just fine” I mean far, far better than the majority of people who will live off of meagre savings and government programs until they get sick and can’t afford hospital bills.

likefunnysmarthelpful

Following too, because of my similar reality

You made it to VP and $250k in five years? Huh.

likefunny

There absoLUTely is such thing as falling behind. Don’t make enough to pay all of even your essential bills for a few months because ‘eVeRyOnE iS hIrInG’ but you are limited in the jobs you can work and no one will pay more than $11 an hour. I’m not some fresh graduate here, I’m in my 30’s and have plenty of professional office setting experience. Can’t afford dog food so we make it with our food stamps which is HELLA more expensive. Getting help from our parents to buy a house and the houses in that range are basically unlivable. We ‘made a change’ and ended up in severe poverty in a rat infested rental. We are not alike.

Lmao this hilarious to me and my sub-6 figure audit salary. I wish I can be in a position where I'm bemoaning owning only a few homes.

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I can’t with this post. Start practicing gratitude and take a good look at any possible lifestyle creep as your income progressed

likesmarthelpful

Uh oh

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likefunnyupliftinghelpful

Oh no your investment portfolio can only have 4 houses instead of 5. You can only have a Porsche and not a Land Rover and a Porsche.

Someone call the goddamn UN for a human rights tribunal. I won’t stand for it!

likefunnysmart

Sorry you can’t afford a luxury car, OP. That sounds really rough.

likefunny

OP out here crying about being unable to buy a car that is more than the median gross salary of an American household lmao.

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All these people poking fun because you’re further along in your career, but yes, agreed. My salary has doubled in 6 years but the car I bought last year is 50% more expensive, used, 15 months later. The house I wanted to buy pre-pandemic is 100% more expensive. Price of things has outpaced my salary increase. Salary increase doesn’t mean crap if the price of everything has increased. Dollar is becoming more and more de-valued.

likesmarthelpful

Nobody cares about his salary. It’s him saying he can’t afford a house when he owns 5.

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$80,000 USD with free room and board and benefits is going rate in 2022 for a top notch live in housekeeper. A stater home is one million and GN sells SUVs now that cost $100,000 USD. Heck a chicken sandwich at lunch is now $15 bucks and a drink in a nice bar is $20

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Wow! Anyone taking apps for a housekeeper 😅

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Bro shut up 😅😂 you’re making a quarter mil a year. Maybe instead of worrying about getting more money when you’re already rich, try to find a way to take care of your people. You’re a leader right?

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ROFL. Grad student will become rich anyway. Help the downtrodden!!

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Frankly, you’re falling behind a chosen comparison set that is indeed out of your grasp and current capability

You are not falling behind *as a result of* the overall marketplace

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You should tell this person about your problems

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likeuplifting

Is this post an article from The Onion? Or perhaps a parody of a couple on HGTV?

Assuming you started your career at 22, you’re now a VP at 27? Do you also lay golden eggs? Or maybe Faberge eggs?

likefunny

C1 is right and captures this nuance well: there’s a “white male experience” of total privilege (often upper class in the first place) that fewer than you think actually experience but all white males are treated as if this has been their experience. Most don’t get these benefits, but the downside of this assumption.

On the other hand, it’s hard to argue that being a white male doesn’t confer some privileges over being female and/or a minority. This alone is likely smaller than most think it is, but does exist particularly with first impressions and can add up over time.

I’m black and even I can see it – I grew up poor among poor white males (life isn’t great for them). Y’all white people are going to have to come together and establish some privilege/class hierarchy due to the extreme variance in your ranks.

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