How do people who make around $100k/yr struggle, assuming normal situation?

[Zardnaar]

This is absolutely true, but it's a bit of a joke as it relates to the "democrat-run cities" meme because I'm not aware of any Republicans running for municipal government on a platform of strong rent control, increasing the minimum wage enough that a full-time min-wage worker can afford the median studio apartment, or generally reining in developer or landlord interests.

Out of curiosity, i just looked up Republican city governments and found that Fort Worth, TX has a Republican mayor. Her big policy initiative listed on Wikipedia is that Fort Worth became the first city in the US to mine Bitcoin.

Really addressing those cost-of-living issues, folks

I think it's because "champaigne socualists" have no idea how to gelp out. They tinker.

Republicans don't even pretend to care so can get away with it. Houston comparatively cheap iirc.

Eg here they gave students an extra 5 a week. Rent went up fairly fast.

So throwing money at it doesn't fix things you need to look at supply and demand more apartments or reduce demand.

 

[Lexicus]

I think it's because "champagne socualists"

Wow, I'm shocked that you think this! How out of character!

 

[Zardnaar]

Wow, I'm shocked that you think this! How out of character!

Well here the left is pretty much urban upper class liberals.

Out of 120 MPsonly 7 don't ow property and only 1 came from a working class blue colour back ground.

The right are business, corporate, farmer types the left are academic, lawyer types.

At best they're out of touch. Their policies tend to benefit similar back grounds to themselves. They tinker and throw money at problems but don't really do much of substance.

Eg giving more money just increases the rent and prices of housing which indirectly makes it even harder for everyone else to buy the house.

The old labour party built new houses, rented them for cheap and essentially gave you the deposit for your home and paid you a subsidy for kids.

Immigration was very low so house prices were comparatively cheap.

Boomers got the those benefits, older Gen X got some, younger GenX the last vapors and post 1984 you got screwed.

 

[Birdjaguar]

Boomers got the those benefits, older Gen X got some, younger GenX the last vapors and post 1984 you got screwed.

Won't the Millennials inherit it all in the end?

 

[REDY]

$100k/yr is more than my income. I do not struggle. I invest wisely.

 

[Zardnaar]

Won't the Millennials inherit it all in the end?

Eventually assuming the boomers don't blow it on cruises, paying for nursing homes etc.

I've known some whose boomers parents have spent the resources the boomers inherited from their parents.

And it doesn't help the zoomers who will eventually inherited from their GenX and Millenial parents. Assuming there's anything to inherited. Not all boomers own property.

See other thread.

 

[Birdjaguar]

Eventually assuming the boomers don't blow it on cruises, paying for nursing homes etc.

I've known some whose boomers parents have spent the resources the boomers inherited from their parents.

And it doesn't help the zoomers who will eventually inherited from their GenX and Millenial parents. Assuming there's anything to inherited. Not all boomers own property.

See other thread.

They are "your" parents; perhaps you should have a conversation with them.

 

[Zardnaar]

They are "your" parents; perhaps you should have a conversation with them.

Mine are dead got nothing.

But was born 10-20 years earlier and hit in towards tale end off affordable. Sisters house was 3 times her wages ours was 5 times and we used a 20% deposit. She's 11 years older than me.

We had 2 back to back years of 20% rises in house prices. Before that several years of 10%+ you do the math.

In hind sight I should have dropped out of school aged 15, worked on farm bought house aged 18 then another every 5 years after that before prices exploded. Would have had 4 or 5 houses. 1 of them would have earned more than a median wage.

Damn useless 15 year old not thinking about their future. My 24 year old cousin moved back home. Her fault for not having the right parents as her dad bailed age 4.

 

[RobAnybody]

Often translates to the following

1. Can't afford the McMansion they want.
2. Can't afford that BMW they want.
3. Cant afford to retire to where they want. Basically veen priced out of hot spots to old to service a 20-30 year mortgage.
4. Can't afford the holidays they want.

I do think when some people reference "struggling" for people earning $100k+, it's this /\

It's not actually, remotely, struggling, as most people would truly regard it. It's more, well, 1-4 above.

I will say though...

My assumptions is an average cost of living area with normal, not excessive expenditures and live alone, which mean no childrens. Obviously also high salary and in a situation without serious healthcare needs, getting fired or other bad situations.

..."average cost of living" just isn't an applicable term here (US). It just varies SO wildly. $100k in state X is not at all comparable to $100k in state Y. Much less New York City or LA, where $100k is a pittance. Like a bare-bones studio apartment & you're probably eating Ramen Noodles 5 days a week. But, they are I'll agree, a small aspect of the US as a whole. The other 99%? Where $100k should be quite a good living? Especially with the increase in Work From Home & Telecommuting? $100k will serve you quite well, IMO. There is now less need to live in those particular super-expensive areas, unless one chooses to, & can [well, should be able to] afford it.

 

[Narz]

Much less New York City or LA, where $100k is a pittance. Like a bare-bones studio apartment & you're probably eating Ramen Noodles 5 days a week.

Bit of an exaggeration. You can have roommates, don't have to pay for a car, food doesn't have to be more expensive (prices at trader Joe's for instance are the same nationwide, just don't eat out)

Last time I lived in NYC was 2017, lived w my gf in the Bronx (bad neighborhood but nice building and close to subway). The cost of rent has since gone up but at that time my necessary expenses were under 20k a year I'd say (rent for instance was $1300 which we split for a studio).

Another time (this time around 2013) I met a guy who I ended up living w in his rent controlled apartment on LES. Guy was nuts and even for the price I couldn't handle even a year w him but if you really dig around you can find a way (just may have to sacrifice what you envision a fancy NYC life should look like)

 

[EvaDK]

Boomers got the those benefits, older Gen X got some, younger GenX the last vapors and post 1984 you got screwed.

Not sure about that. My niece and her husband just bought a house; they're 25ish. My nephew finished University and got a very well paid job in Copenhagen working in state administration. He's probably better paid than his dad, my brother, is. Their generation have excellent job opportunities paying high wages, that is if they took an education. They'll benefit from all the young boomers that are retiring right now.

They probably can't afford the high tier homes, but that's like 30% of the housing market here. The remaining 70% is available to them - in their early-mid 20s after finishing education.

 

[Zardnaar]

Not sure about that. My niece and her husband just bought a house; they're 25ish. My nephew finished University and got a very well paid job in Copenhagen working in state administration. He's probably better paid than his dad, my brother, is. Their generation have excellent job opportunities paying high wages, that is if they took an education. They'll benefit from all the young boomers that are retiring right now.

They probably can't afford the high tier homes, but that's like 30% of the housing market here. The remaining 70% is available to them - in their early-mid 20s after finishing education.

1984 was here in NZ. What do your nephews parents do for a crust of bread?

 

[MagisterCultuum]

In the cases where someone making $100k per year could genuinely be said to be struggling, it is probably mostly due to medical debt.

Recall that the USA does not have public healthcare (except for the elderly or the very poor), and around that income level the person would not qualify for health insurance subsidies. Insurance companies often like to avoid payouts. Hospitals typically will not tell you their prices up front and could charge tens of thousands more than expected for some procedures. There are anti-competitive regulations like "certificate of need" requirements, which prevent new medical facilities from opening unless the established hospitals nearby agree that there is too much demand in the area for the existing providers to handle, so there is basically private monopoly pricing. Many pharmaceuticals are ridiculously overpriced, especially when you consider that private companies are holding patents for drugs developed almost entirely by grad students at public universities using public funds. Big pharma spends significantly more on direct-to-consumer advertising (the kind that is illegal in every country but the US and New Zealand) than on developing their drugs.

My father's treatments for leukemia were fully covered by Medicare, but if he'd needed the same pills and infusions while under age 65 and had to pay out of pocket it would have cost over $23k per month over the course of several years.



Housing cost can also be quite high in some areas, where there are huge NIMBY issues and regulations make it difficult to build new affordable housing. My area is not too bad, but the average cost of housing has doubled over the past decade. Apartment buildings are rare. There are zoning regulations making it illegal to build any new homes with floor plans smaller than 2000 square feet or without enough on-site parking spaces for at least 3 cars for each single-family home. It is possible to get a special zoning variance, but that requires convincing neighbors to sign petitions and attend council meetings at inconvenient times to testify on your behalf that it would not adversely affect their own home values or increase traffic.

 

[Spidernova]

What kind of struggle do you mean too? Because even if you live in a HCOL area, I cannot imagine someone making 100k being in the kind of situation where they cant afford new shoes, car repairs, or have to skip meals. That's what "struggle" brings to mind for me at least.

 

[NinjaCow64]

Out of 120 MPsonly 7 don't ow property and only 1 came from a working class blue colour back ground.

You are so close to getting it my dude. You are so close.

 

[NinjaCow64]

What kind of struggle do you mean too? Because even if you live in a HCOL area, I cannot imagine someone making 100k being in the kind of situation where they cant afford new shoes, car repairs, or have to skip meals. That's what "struggle" brings to mind for me at least.

Yeah there is no universe where a $100k USD/year person is actually struggling unless you define struggling as “can’t buy a yacht whenever they feel like it”.

 

[Arwon]

Maybe several kids and some weapons grade US medical debt

 

[EgonSpengler]

The corruption in the criminal justice system isn't passive. It goes after people[...]

Insider, 15 August 2023 - "Police in Delaware were caught on camera plotting how to pin a phony charge on a driver who flipped them off"

Delaware state troopers were caught on in dashcam footage plotting to frame a man on false charges after he gave them the middle finger, according to local reports.

In the process of Guessford's complaint, videos have emerged which show the officers discussing various laws under which to pursue him, despite seeming aware they did not apply. One suggested a citation for "hand gestures."

The other replies: "Yeah, you can't do that. That'll get dropped."

"We can lock him up for disorderly conduct," the first officer says. "It might not go anywhere, but we can definitely lock him up for disorderly conduct."

After the traffic stop, Master Corporal Raiford Box, who is not named in the complaint seen by Insider, is heard telling Douglas: "We can lock him up, take his kid, put his dog in the impound … for now it is what it is," Delaware Online reported.

Box then called another officer, who advised him that police can't just lock people up for giving them the middle finger.

Emphasis mine. I don't know what happens if the local Child Services department takes a child from their parent, even temporarily, and even if the criminal charge is dropped or dismissed. Is there a record of that kid being "in the system"? Are they simply returned to their home when the charges are dropped, or is there more to it than that? It doesn't say how old the kid was, but what kind of harm is done to a child taken from their father, even if it's just for a weekend? For that matter, I don't know what kind of harm spending a weekend in jail might do to the person wrongfully arrested, even if that person is an adult.

 

[Narz]

Insider, 15 August 2023 - "Police in Delaware were caught on camera plotting how to pin a phony charge on a driver who flipped them off"



Emphasis mine. I don't know what happens if the local Child Services department takes a child from their parent, even temporarily, and even if the criminal charge is dropped or dismissed. Is there a record of that kid being "in the system"? Are they simply returned to their home when the charges are dropped, or is there more to it than that? It doesn't say how old the kid was, but what kind of harm is done to a child taken from their father, even if it's just for a weekend? For that matter, I don't know what kind of harm spending a weekend in jail might do to the person wrongfully arrested, even if that person is an adult.

Yeah police are corrupt AF. I had some hick cops in a small NY town follow me late at night for miles, as soon as the car veered slightly from the lines they pulled us over.

The vehicle owner has pot in the truck. I had some chocolates in my backpack which the cops informed me they'd be testing for thc and suggested I come clean. I told them they did not contain thc.

They claimed to have tested them and claimed they tested positive for thc. That was a lie.

My public defender eventually negotiated me to accept a points on my license and a large traffic (non-criminal) fine to drop the charge.

Just another day for those corrupt bastards I'm sure.

 

[Joij21]

The right are business, corporate, farmer types the left are academic, lawyer types.

That's literally how it is throughout the entire West right now.

Though I'd make an exception with corporate types and just say that they choose what side is most convenient to them at any given moment.

Business on the other hand would have to specifically be the Petit Bourgeois (you know ma and pa shops) and self employed folks who hate that they don't have as much capital as the big guys to pay for environmental regulations and labor regulations so tend to lean right.