Class Status

Another problem, IMO, comes when people insist on escaping their so-called class. They do it by telling themselves that a $200,000 house in the neighborhood, town or region they grew up in is not good enough for them.

I see it all the time with people mortgaging themselves to the eyeballs, working two or three jobs to be able to afford living in their McMansion when, in reality, there is nothing wrong with living in a house that's not a parade-of-homes showpiece.

That said, I plead guilty to not wanting to raise my family in the town I grew up in. The schools are inadequate, the economy depressed and the prospects of having my daughter potentially marry a young man from that town scare me -- I'm just glad my in-laws weren't fully informed of where I grew up.

 

And on top of that, the cookie-cutter McMansion doesn't have half the charm or character an older home.

 

Exactly, I'd say my parents are in the 120-135,000 range. However, that's after each has worked at a union job for over 30 years so they probably only got over 100k in the last 10-15 years or so. Also, they've sent 4 children through catholic school for 12 years and then 4 years of college (well I still have 2 years left as the youngest). For that reason, our family would definitely have been considered middle-middle class when we all lived under the same roof.

 

We had our real estate agent and mortgage company drooling at the prospect of selling a home to us when we moved. When we chose a house for one third of what we were prequalified to buy, they were visibly disappointed. We wanted a home in a good neighborhood. But we also wanted to live in a more low-key neighborhood with a mix of people and access to the things we really needed. Two acres on the top of a hill with no neighbors to say howdy to wasn't something we 'really needed.' And with the extra money not spent on a $2,500 monthly mortgage payment, we'll be going on family vacations more often.

A 'class' system will always exist, I suppose, as long as there are rich people and poor people who aspire to be rich.

I do wish, though, there wasn't as much of a impulse to be rich when, for example in my town, anyone can live very comfortably on a family income of $75,000 per year or less if you know how to manage your money rather than let your money manage you.

 

Geography plays a big part in class. You can make $100,000 in NYC, Washington or LA and still be a bum.

 

You must be British.

Seriously, you've hit on a point. Class has more to do with than just money.

It's she Mitford U (upper class) versus Non-U syndrome.

You can have all the money in the world but a if I hear someone in an Armani suit say, "See youse guys later", that's solid working class.

 

trying to compare 2007 to 1967 is what's flawed and you're the one who introduced 1967 to the equation. the only flawed argument comes from geography. $50,000 in most of texas is far from being poor. i'm single, make $42k a year and can afford a nice new 1,800-square-foot house by myself.

 

Again, it depends where you live. In Texas, $50K goes a long way. Where I live, not so much.

 

My dad always used to say "Wealth is what's left at the end of the month."

You can make a ton of money, but if it's all going to bills, you're not rich. If you make $25K and live within your means and have discretionary income, that's a better way to live, IMO.

 

There are only two classes, the haves and the have nots.

 

Same thing happened with us. We were pushed to the McMansion tracts on the edge of town. Instead, we went with a house in the center of the city in a historic neighborhood built from 1930-1950.

 

True enough, but older homes can be a serious pain in the ass, even if they've been maintained decently. I'd trade some of my place's charm for a level foundation in a heartbeat.