My income is in the "2%". I also entirely understand that that makes me in "the elite few".
> California houses cost at least 2-3 mil.
You mean "houses in a few select neighborhoods and locations", such as SF, more prestigious areas in LA. Also, they don't. Median SF house price: $1.4M. Sunnyvale, $1.6M.
Not "at least 2-3M". And certainly not in conjunction with this:
> implying that all Californian home owners are part of some elite
The median Californian home price is $700K. So no. But since you seem to imply that California is somehow defined as "places where homes cost $2-3M" then yes, absolutely. If you own a home worth $2M+ you are unequivocally "one of the elite". You may not be buying a new private jet every five years, but you are also entirely capable of a lifestyle that the VERY VAST majority of Americans have no chance of attaining.
For reference, a $3M mortgage with a substantial downpayment results in a mortgage payment of nearly $14,000/month, which with Jumbo loans requires an annual income in the region of $800K/year.
Please don't try to continue an argument that says that someone making just shy of a million dollars a year is somehow neither privileged nor elite.
My income is in the "2%". I also entirely understand that that makes me in "the elite few".
> California houses cost at least 2-3 mil.
You mean "houses in a few select neighborhoods and locations", such as SF, more prestigious areas in LA. Also, they don't. Median SF house price: $1.4M. Sunnyvale, $1.6M.
Not "at least 2-3M". And certainly not in conjunction with this:
> implying that all Californian home owners are part of some elite
The median Californian home price is $700K. So no. But since you seem to imply that California is somehow defined as "places where homes cost $2-3M" then yes, absolutely. If you own a home worth $2M+ you are unequivocally "one of the elite". You may not be buying a new private jet every five years, but you are also entirely capable of a lifestyle that the VERY VAST majority of Americans have no chance of attaining.
For reference, a $3M mortgage with a substantial downpayment results in a mortgage payment of nearly $14,000/month, which with Jumbo loans requires an annual income in the region of $800K/year.
Please don't try to continue an argument that says that someone making just shy of a million dollars a year is somehow neither privileged nor elite.