Not playing victim, just extremely curious. Im a PM 41yo TC 245k wife similar income, although we make a point of maxing up 401k and ESPP when possible, we just get by after paying taxes 3600k morgage, childcare student loans and a 100k loan for renovation of a POS 1939 1400 sqm house we got in 2020 for 755k. I took a drive after work through Kirkland and I just couldnt understand the amount of teslas and multimillion houses, I know there are lawyers surgeons etc but that many? Do I need to start selling drugs?
Yup been thinking the same thing the last 2 years. I donāt understand how most housing in the area went up 50% or so the last couple of years and how there is still so much demand, where was all this money beforehand?
Have you seen $META ? So many blind posts recently of L6s crossing 1M TC ā¦
thatās like a couple thousand people in the Seattle area
L6+ probably less
You are either a dual income couple or one of you is at least an L6/7 making over 500-600k or you already purchased a home a while ago or you got lucky with your stock/crypto picks. I am 36, my household income is over 800k and I own a couple homes in the Redmond area, all of them bought before 2019.
I remind myself when I go through those really nice $$$$ neighborhoods that I'm seeing houses from just a few families per street, in a metro area of ~4 million people. We're all high earners here but it's still easy to be blown away by the wealth of the point-one-percent
šÆ
The "few families per street" is the problem. Affordability requires density.
They or their families owned in the 80s and 90s and just kept incrementally selling/buying or updating their property with the equity. I know of more cases of this then I can count.
Your household income is like 500k and you are just getting by? Something doesnāt add up , take a look at your finances. Perhaps maxing espp isnāt the right callā¦
Spending too much on candles
It is the right call. 10% discount on Microsoft stock that has significantly outperformed the market over the last 10 years
Rich parents also help
You are walking through an NBA locker room and amazed there can be so many tall people. I mean EVERYONE here is so tall! Google, Meta, Amazon can all pay tech Directors over 1M. Meta can be nearly 2M with a bit of stock appreciation. Might even be a dual income at this level. Add in a few L6/7 that made lucky stock moves with all their RSU money pre kids. These aren't common in the general population, but it is common when you drive through a rich neighborhood.
I thought Amazon only gives š and high bp
You are a rat in a race nothing matters honestly if you keep chasing find your purpose and make society better than playing dumb around trying to understand making 500K and still complaining F off
House poor folks who are taking a lot of risk after watching YouTube videos about how house is a leveraged low risk investment. Houses unlike the stock market can only go up so much. You canāt have fractional shares in a house or canāt split the SFH house into multiple units like a company can do with a stock when the ticker price goes up by a lot. Housing is severally constrained by affordability and wage growth but folks, specially in tech are not smart enough to understand that. I have seen folks claim on Blind that housing keeps going up in perpetuity, not realizing that every asset goes up in perpetuity. Itās the rate of growth that matters.
Not sure I understood your point. Should we buy stock and rent forever?