Quote:
Originally Posted by Obadno
The average home price in the usa is 226k as of 2018
You're home is was worth just shy of double the average home price in the USA in 2017 when you bought it. Its very easy to assume that your house is "average" and that your life is " normal" when it is far from.
And by the nature of wealth, the further you go up the income scale the less people their are, thus a 420k home puts you much closer to the top end of homeowners than somebody with a 230k house.
So yes, in reality your "nice but not obscene" home is only actually attainable for something less than 20% (or less) of the population.
You are what most would call wealthy or rich.
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A 400k home obviously isn't indicative of great wealth. Even in a very cheap metro, like Cleveland or Indy, 400k will get you a nice home in a nice suburb, but nothing amazing.
IMO Steely's neighborhood isn't really what we're talking about if we're comparing downtown core living to equivalent suburbs. Downtown Chicago is rather expensive, and a family-sized home will probably run around $1 million.
Yeah, there are "in-between" neighborhoods, not downtown, and not suburban that offer better deals, but usually when people are comparing upscale cores to equivalent suburban living they're comparing, say, Lincoln Park to Hinsdale or Park Slope to Rye. They aren't really comparing Jackson Heights, Bay Ridge and the like (the in-between areas) which, yes, are nice areas and still offer pretty good deals.