5 ms·
> You're either considering the average suburban home a McMansion or you think the top 10% is middle class. If wealth were normally distributed, then the top 1
by cjohnson318 3y ago
> You're either considering the average suburban home a McMansion or you think the top 10% is middle class.
If wealth were normally distributed, then the top 10% definitely wouldn't be the middle class. However, the way wealth is distributed, the average earner in the top 10% makes about $173K in 2020 dollars. Which is a lot in Louisiana, but not so much in SF or New York.
https://www.epi.org/blog/wage-inequality-continued-to-increase-in-2020-top-1-0-of-earners-see-wages-up-179-since-1979-while-share-of-wages-for-bottom-90-hits-new-low/ https://www.epi.org/blog/wage-inequality-continued-to-increa...
- onlyrealcuzzo 3y agoYou're not building a McMansion for less than $250 per square foot. And a McMansion is usually 3000+ sqft. In New York or LA or The Bay, you're not getting a McMansion for less than $2.5M. In Louisiana, you're not getting it for less than $800k. If anything - I think this pushes out who's buying a "real" McMansion probably closer to the top 5%. It's less affordable given where people live and how much more they cost where people make more money. Unless we're calling ugly 1800 sqft 3-bedroom suburban development houses "McMansions" - middle class people aren't buying them.
- cjohnson318 3y ago> If anything - I think this pushes out who's buying a "real" McMansion probably closer to the top 5%. Yeah, I think you're right. I don't think America even has a middle class any more. The insanity of the housing market has really put that in stark contrast.