It is tough barely squeaking by on 400K a year

It is out of "whack" and it is ridiculous, but the situation does exist. Here in the "OC" a 2000sq. ft. tract home is upwards of $750,000. The median home price in Newport beach is 250 million. Most yuppies would not be caught dead in anything less than a Mercedes CL or better. The "poor folk" drive BMWs. That's the paradise tax of living here.

Now I'm not saying we should feel sorry for these 1 percenters who feel broke. It seems that even these folks think they should spend all they make plus a little bit more, which they will take a loan for. I'm just saying that most people will borrow all they can and live as high as they can no matter how much they make. It's the American way!

Check your math.

+1



And for what it's worth.....I don't feel one damn bit sorry for those 1% who bitch about times being tough....or it's damn tight.....what with keeping the maintenance fees going on their 7 vacation homes.

Next thing you know....some of these elite snobs will be installing car elevators in their vacation mansions

I'll just bet CowboyKell made a typo and knows full well the median home price in Newport Beach is not $250 million dollars.

Top 10 most expensive homes in America
I guess MoneyWatch never ventured to Newport Beach, CA.

I wouldn't call it a typo. More like a brain fart. I actually wrote 250 mil on purpose but that had to do with a council meeting I had just gotten out of that still has me a little rattled.

The median price is around 2.5 million, and it's ridiculous. The 2.5 mil doesn't really get you much.