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Per [1], the minimum income to be part of the top 1% of income earners is $538k / year. I find it incredibly hard to believe you cannot afford to own your own h
by xur17 5y ago
Per [1], the minimum income to be part of the top 1% of income earners is $538k / year. I find it incredibly hard to believe you cannot afford to own your own home with that level of income, even in the biggest cities in the US.
What level of income are you considering here, and what house price do you feel is approachable with that income level?
[1] https://www.usatoday.com/story/money/2020/07/01/how-much-you-need-to-make-to-be-in-the-1-in-every-state/112002276/ https://www.usatoday.com/story/money/2020/07/01/how-much-you...
- onionisafruit 5y agoThat’s household income. It takes a mere $367k to be in the top 1% for an individual. I think your overall point still stands.
- astrea 5y ago"Mere 367k" as if that isn't enough to afford the down payment on a nice home. Sure, you're not going to pay cash for a $3M penthouse in NYC, but I make well below 1/4 of that in a city and I'm well on my way to a down payment on a nice home for myself. I would recommend one SERIOUSLY reconsiders their budget/priorities if they are unable to build a house fund (even over a couple year period if starting from scratch) at $367k/yr.
- deleted 5y ago[deleted]