Lifestyle projections and economic discussions regarding LA

slugboy

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78pike said:
But how does that lifestyle change when the money goes down to less than $4.5 million per year. I saw a chart that listed all of the federal, state and local taxes he would be subjected to by living in LA. It said that a whopping 52% would go to taxes. That changes the math a bit. He would be better off financially coaching the Heat or Magic where the state of Florida has no state taxes (not that he would ever want to coach them, just saying).
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People “live comfortably” in LA on $76k per year. At $4 million plus a year, he’d be living large
 
78pike

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slugboy said:
People “live comfortably” in LA on $76k per year. At $4 million plus a year, he’d be living large
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I don't see how anybody, much less someone in the notoriously expensive and massively taxed state of California, lives "comfortably in the current economic state of our country on $76k. But I guess that might depend on your definition of comfortable.
 
ESPNjacket

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78pike said:
I don't see how anybody, much less someone in the notoriously expensive and massively taxed state of California, lives "comfortably in the current economic state of our country on $76k. But I guess that might depend on your definition of comfortable.
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It also depends on your geographic definition of LA.
 
leatherneckjacket

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slugboy said:
People “live comfortably” in LA on $76k per year. At $4 million plus a year, he’d be living large
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Live comfortably? At $76K per year, that is around $40K after taxes. The average home price is $1.3M, which costs around $7K a month in mortgage and leaves you only $44K in the hole before you pay for food, car, or utilities.
 
forensicbuzz

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leatherneckjacket said:
Live comfortably? At $76K per year, that is around $40K after taxes. The average home price is $1.3M, which costs around $7K a month in mortgage and leaves you only $44K in the hole before you pay for food, car, or utilities.
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You can live comfortably in an apartment that costs a lot less that $1.3MM. Not everyone is destined to own a stand-alone house. Not everyone wants to.

I'd also say that $76k is not $40k after taxes.
 

cpf2001

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I wouldn’t want to live in LA county without at least being over 120k or so, but I’m pretty sure that Lakers salary would come out to much more than that. Get a sweet 6M pad in Malibu you’ll still have a lot left over. And for most non-property stuff the cost difference is pretty marginal.

“Nobody goes there, it’s too crowded.”
 
forensicbuzz

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leatherneckjacket said:
Please, stop. No one is living comfortably in LA at $76K before taxes. To suggest otherwise is idiotic.
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This statement is ignorant and not worthy of a response. Good evening, sir. Carry on with your own idiocy. 🥃

The median income for Los Angeles is $70K. Do some research before you start projecting your expectations onto other people as to what comfortable is. Out of 1.3MM homes in LA, ~500k are owner occupied, ~875k are rental properties. Do your research before you spout off.
 
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leatherneckjacket

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forensicbuzz said:
This statement is ignorant and not worthy of a response. Good evening, sir. Carry on with your own idiocy. 🥃

The median income for Los Angeles is $70K. Do some research before you start projecting your expectations onto other people as to what comfortable is. Out of 1.3MM homes in LA, ~500k are owner occupied, ~875k are rental properties. Do your research before you spout off.
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LOL! The average person in Los Angeles is not living comfortably. They cannot afford to buy a home. They send their children to the worst public schools in the country. They struggle to make ends meet. I am not sure what you think the percentage of rentals to owner occupied properties says about how comfortably the average person lives, but it is not what you think. Being priced out of home ownership is not a good thing. There Is a clear lack of affordable housing even for average/median income earners. Thanks for proving my point.

 
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leatherneckjacket

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forensicbuzz said:
This statement is ignorant and not worthy of a response. Good evening, sir. Carry on with your own idiocy. 🥃

The median income for Los Angeles is $70K. Do some research before you start projecting your expectations onto other people as to what comfortable is. Out of 1.3MM homes in LA, ~500k are owner occupied, ~875k are rental properties. Do your research before you spout off.
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By the way, a $76K income in Los Angeles for a family of four is considered borderline very low income and is eligible for section 8 housing, food stamps and other cash assistance. But, yeah, they are living comfortably.
 
forensicbuzz

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leatherneckjacket said:
By the way, a $76K income in Los Angeles for a family of four is considered borderline very low income and is eligible for section 8 housing, food stamps and other cash assistance. But, yeah, they are living comfortably.
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Your snarkiness is unbecoming.

You keep making broad assumptions that are redefining the discussion. If a single person (and there are a lot of those in LA), living with a roommate (there are a lot of those in LA), and is bringing in $76k, they can be very comfortable. Even if they're living by themselves, they could be very comfortable. The false narrative you're putting forward is that you're defining "comfortable" by your standard, not someone else's. There are many people who are quite content with food in their belly and a roof over their head. There are many comfortable people living in Section 8 housing.
 
leatherneckjacket

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forensicbuzz said:
Your snarkiness is unbecoming.

You keep making broad assumptions that are redefining the discussion. If a single person (and there are a lot of those in LA), living with a roommate (there are a lot of those in LA), and is bringing in $76k, they can be very comfortable. Even if they're living by themselves, they could be very comfortable. The false narrative you're putting forward is that you're defining "comfortable" by your standard, not someone else's. There are many people who are quite content with food in their belly and a roof over their head. There are many comfortable people living in Section 8 housing.
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Ok, I will play. In fact, $76K for a single person is also eligible for section 8 housing and other cash assistance. So, you are wrong. By the way, it seems your definition of comfortable is probably not what most people would think. My definition has nothing to do with my own lifestyle. It is just common sense that struggling to pay your bills, get food on the table, or afford anything besides your rent is not living comfortably. I already posted a link showing people in LA pay a greater portion of their income on housing and have a higher debt to income ration than almost all other metropolitan areas in the US.
 
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leatherneckjacket

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forensicbuzz said:
Your snarkiness is unbecoming.

You keep making broad assumptions that are redefining the discussion. If a single person (and there are a lot of those in LA), living with a roommate (there are a lot of those in LA), and is bringing in $76k, they can be very comfortable. Even if they're living by themselves, they could be very comfortable. The false narrative you're putting forward is that you're defining "comfortable" by your standard, not someone else's. There are many people who are quite content with food in their belly and a roof over their head. There are many comfortable people living in Section 8 housing.
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Also, snarkiness? You called me ignorant and an idiot. If my snarkiness is unbecoming, it is because your whole persona is despicable.
 
spdrama

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Been in these fights. Found out they are not audience pleasers. Especially when they become personal. Learned my lesson the hard way. Ain’t worth it. So many better things to discuss or artfully argue for or against. Just shake hands, say “The hell with Georgia!!!” & make it history.
 

cpf2001

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TooTall said:
And who wants to live in LA when we get 90degree weather here in GA with 100% humidity?
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The crazy thing about the LA region is that people don’t just spend to be in the path of the cool coastal breeze, they also drop millions on houses in the San Fernando Valley where you still get serious heat.

Best (everyday, non-fine-dining) food in the world though. Fight me on that one ;)
 
Peacone36

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forensicbuzz said:
Your snarkiness is unbecoming.

You keep making broad assumptions that are redefining the discussion. If a single person (and there are a lot of those in LA), living with a roommate (there are a lot of those in LA), and is bringing in $76k, they can be very comfortable. Even if they're living by themselves, they could be very comfortable. The false narrative you're putting forward is that you're defining "comfortable" by your standard, not someone else's. There are many people who are quite content with food in their belly and a roof over their head. There are many comfortable people living in Section 8 housing.
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If I may, and I’m going to regardless. You did say his statement wasn’t worth a response and then you responded. Also, I’m slightly above that median income, and because construction is archaic unless you wanna put 100,000 miles a year on your vehicle it has remained static for 8 years. im in Maine and things are much more difficult than they were say….ah…..number out of thin air….4 years ago. I can’t imagine trying to live like I do in California.
 
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