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Started By
Message
2
Posted on 8/20/14 at 3:01 pm to CharlesLSU
quote:
ETA: that $450k has potential! Good bones and pool it seems. I am serious.
I just click on a random drop pin
Posted on 8/20/14 at 3:02 pm to Purple Spoon
That's how they stay rich.
Posted on 8/20/14 at 3:04 pm to Starrkevious Ringo
quote:
LOL. Don't get me wrong. I know it's not bad. Those are all damn nice places.
it's just that living in the best part of Houston is probably not terribly different from living in the best part of Lahore or Lagos, for example. Yes I exaggerate but you get my drift.
Did you just compare one of the biggest, most booming cities in America to a city in Pakistan and a city in Nigeria? Really?
Where do you live? fricking Shangri-La?
Posted on 8/20/14 at 3:12 pm to LoveThatMoney
Sorry bud. it's big, it's booming, there's a lot of money there, but none of that makes it a particularly pleasant place to live, even if you are in River Oaks or the aforementioned. Besides, I told you I was exaggerating; so sorry you missed that part.
Back when Midland was "booming", did that make it a great place to be?
As for where I live, yeah, I do consider it Shangri-La of a sort. It's about as far from the plebeian middle-American petrochemical nightmare of Houston as you can get, I'll tell you that much.
ETA: and no, I couldn't afford River Oaks.
Back when Midland was "booming", did that make it a great place to be?
As for where I live, yeah, I do consider it Shangri-La of a sort. It's about as far from the plebeian middle-American petrochemical nightmare of Houston as you can get, I'll tell you that much.
ETA: and no, I couldn't afford River Oaks.
This post was edited on 8/20/14 at 3:13 pm
Posted on 8/20/14 at 3:15 pm to LoveThatMoney
quote:
Between state, federal, insurance, social security, and the myriad other deductions he probably has, it is much closer to 50% of his income than you seem to think that he isn't taking home.
It would be tough to anybody to be giving half of their income to taxes. It would have to be a very affluent guy that gets his income completely from salary, doesn't take deductions, doesn't have a financial adviser and does his taxes by hand without so much as springing for Turbo Tax.
The main thing that people don't realize is that state taxes can help offset federal taxes so just because you make 2 million in salary in Los Angeles doesn't automatically mean you pay an effective 50% rate.
Posted on 8/20/14 at 3:18 pm to Walking the Earth
quote:
It would be tough to anybody to be giving half of their income to taxes. It would have to be a very affluent guy that gets his income completely from salary, doesn't take deductions, doesn't have a financial adviser and does his taxes by hand without so much as springing for Turbo Tax.
The main thing that people don't realize is that state taxes can help offset federal taxes so just because you make 2 million in salary in Los Angeles doesn't automatically mean you pay an effective 50% rate.
Well fair enough. I overstated.
Posted on 8/20/14 at 3:24 pm to Starrkevious Ringo
quote:
Besides, I told you I was exaggerating; so sorry you missed that part.
I didn't miss it. I quoted it. Exaggerating or not, you just compared an economic mecca of American ingenuity to cities in Pakistan and Nigeria. You're an idiot.
quote:
Back when Midland was "booming", did that make it a great place to be?
All you're doing is begging the question, round and round you go, then setting up strawman arguments like these.
You don't like Houston. I get it and that's fine, I'm not a huge fan of the city myself. But you do all this while not revealing the Shangri-La in which you live, constructing your ivory tower in fictitious little quips and tired opinions.
So I'm calling you out on it, Mr. Patrician. Share with us the secret of life that will save us from the dregs of the world that is the City of Houston.
Posted on 8/20/14 at 3:57 pm to LoveThatMoney
Edit: Dammit Chicken this freaking relic of the 1990s can't even support the greater than or equal to sign? What the hell are we paying you for?
This post was edited on 8/20/14 at 3:59 pm
Posted on 8/20/14 at 3:59 pm to goldennugget
quote:
goldennugget
You jealous baby back bitch
Posted on 8/20/14 at 4:02 pm to goldennugget
For every person keeping up with the Jones there is another couple who have low key lifestyles but enjoy a really nice home.
I would fall into that latter category.
And yes for every guy that yells at people walking thru the hood because they snuck in the gate and don't belong, there is the guy who will say hello and think nothing of it.
Again, the latter
I would fall into that latter category.
And yes for every guy that yells at people walking thru the hood because they snuck in the gate and don't belong, there is the guy who will say hello and think nothing of it.
Again, the latter
Posted on 8/20/14 at 4:03 pm to Purple Spoon
quote:
Most of the people I know who are what I consider rich are miserable people to be around.
Find the opposite. In fact, some are far more down to earth than the pseudo rich. Friend of mine who was mgr. of a high end hotel in Hawaii told me once that the truly rich are very nice. Their kids are a different story. Up and comers (successful professional people) were the worst.
I've noticed that the most expensive homes have a high turnover though, locally.
Posted on 8/20/14 at 4:05 pm to yellowfin
quote:
$950 per sq ft
$135 per sq ft
Hahah, the real estate agent in the second link's name is Sandra Pillow
Posted on 8/20/14 at 5:29 pm to Pettifogger
quote:
Entrepreneurs and small business owners are probably the most likely candidate
you know know small business owners...read the millionaire next door.
docs & lawyers are the worst about over leveraging according to my CPA who does taxes for many high income clients...most successful small biz owners are frugal as hell
ETA: to add to the point, small biz owners have a hell of a time getting a mortgage while doc and employees have a much easier time..it's very difficult for a small biz owner to overleverage...banks watch them very closely
This post was edited on 8/20/14 at 5:32 pm
Posted on 8/20/14 at 5:35 pm to goldennugget
Places like Highland Park, River Oaks in Houston, etc, have a lot of old, multigenerational money. The nouveau riche gravitate to the newer McMansion subdivisions.
Posted on 8/20/14 at 5:39 pm to goldennugget
quote:
How many of the residents in these neighborhoods have a house of cards of debt just so they can say that they live in these exclusive fancy neighborhoods?
Well sure they have debt but that is normal. Almost nobody buys a million dollar home without taking out a mortgage.
quote:
But they do this all so they can say they live there and keep up with the Joneses.
Depends. Some definitely do this, others are legitimately well off.
Posted on 8/20/14 at 6:15 pm to The Third Leg
quote:
I'd rather pay double for less space and live closer to the epicenter, in an area of houses that don't all look the same - frequenting massive strip malls filled with shitty corporate chains.
We left an affluent Dallas neighborhood and built in Frisco 3 years ago. We were one of the first homes built and our subdivision has been built out for a year now. I had to be dragged to Frisco from Dallas kicking & screaming but it was the best thing for us.
The best thing about Frisco is that most homeowners here are mid 30s - 50. Almost every house in our subdivision has kids in K-5. In Dallas, I was planning play dates in advance and driving all over just so my kid could have friends his age. Now, he walks outside and plays baseball in the park across the street with 20 other kids.
Posted on 8/20/14 at 8:15 pm to LSUGrrrl
I have a friend who used to coach at Highland Park H.S. He said about 20% of the kids were poor meaning the parents spent all of their paycheck on a highland park mortgage so their kids could go to school there. For what its worth, I used to work out with his team sometimes and all the kids were good, normal kids. I also have several clients who live in HP. Most are normal people who have made a lot of money. Dallas is full of those people. Sure, there are the $50k millionaires.But there are a staggering number of 30 somethings that are multi-millionaires from tech, real estate....I even have a client who is a millionaire from an office cleaning business.
Posted on 8/20/14 at 8:17 pm to goldennugget
A lot of people in those neighborhoods are leveraged out if their asses.
Posted on 8/20/14 at 8:21 pm to goldennugget
quote:At least 40% would be my guess. Some people seem to have no problem stiffing creditors when it comes to their dear, dear hedonistic life style. I have no pity on them when the fit hits the shan. I've had more than one prick pull this on me.
How many of the residents in these neighborhoods have a house of cards of debt just so they can say that they live in these exclusive fancy neighborhoods?
This post was edited on 8/20/14 at 8:23 pm
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