worth mentioning that one of the reasons owning is so expensive in these major cities is that foreign capital drives up

Sign up, and you can make all message times appear in your timezone. Sign up

Report problem with this ad

Oct 27, 2021
9:00:59am

HarlemCoug Free to change my mind

worth mentioning that one of the reasons owning is so expensive in these major cities is that foreign capital drives up

the price of ownership.

There are tens of thousands of people from around the world who own in NYC. Many got their money illegally and are looking for a place to stash it... many earned it legally and are looking for a safe haven/diversification play. These owners are rarely in NY, but they like the idea of owning property in a country/city where they feel the courts will protect their private property rights.

Report problem with this ad

HarlemCoug

Previous username: Big12
Bio page: HarlemCoug
Joined: Sep 8, 2014
Last login: Apr 27, 2024
Total posts: 32,212 (4,020 FO)

Report problem with this ad

Messages

Author

Time

I'm someone living in SF on a similar income to the article.

ReyOso

10/27/21 8:38am

But isn’t Utah a little less expensive than SF?

blueaussie

10/27/21 8:41am

This is the article about budgeting in a city.

ReyOso

10/27/21 8:43am

Oh gotcha. I thought you were referring to the one about the real housewives.

blueaussie

10/27/21 8:48am

Sorry, I linked to the wrong post.

ReyOso

10/27/21 8:56am

One thing I've seen in a lot of city dwellers. . .

ReyOso

10/27/21 8:42am

K

eysikal

10/27/21 8:42am

it's worth mentioning your tax, tithing, and other charitable contributions too.

HarlemCoug

10/27/21 8:45am

Some are the same anywhere, but city income taxes are different, and suck.

ReyOso

10/27/21 8:48am

If you're making 400k a year-ish I'm wondering why you don't buy a house

Heath Squashwell

10/27/21 8:48am

often in big cities, to own you're paying significantly more per month. There have been times in NYC where a $5k rental

HarlemCoug

10/27/21 8:54am

With 300K down, 6K/month on a 1.3M loan + ~1500 a month in property taxes.

ReyOso

10/27/21 8:55am

worth mentioning that one of the reasons owning is so expensive in these major cities is that foreign capital drives up

HarlemCoug

10/27/21 9:00am

This picture of life in Spanish Fork is different from what I expected.

Florwood

10/27/21 8:48am

You seen those prices at Swig?

stenso

10/27/21 9:18am

I always like to hear about people’s passive income… what investments are you

kotacoug

10/27/21 9:00am

That confirms that city life is not for me but congrats for making it work for

cougfanz

10/27/21 9:16am

I'm enjoying it now, but this isn't a permanent thing, either.

ReyOso

10/27/21 9:20am

Here's a big way $400K in SF isn't rich

DrYfire

10/27/21 9:29am

63%? Crazy

TNT

10/27/21 9:32am

That's not correct. The marginal federal rate is 32% and that won't be the

Coach's Dad

10/27/21 9:37am

agreed... add 10% tithing and it means a take home of about $190k on $400k of gross earnings.

HarlemCoug

10/27/21 9:59am

It was a bit of an oversimplification. You are correct about federal

DrYfire

10/27/21 10:36am

In my particular case I have no employer but myself.

ReyOso

10/27/21 10:43am

absolutely 15.3% for FICA then.

DrYfire

10/27/21 10:47am

I used to think SS and Medicare would go away by the time I retired.

ReyOso

10/27/21 11:44am

Report problem with this ad

Posting on CougarBoard

In order to post, you will need to either sign up or log in.

Report problem with this ad