Quote:
Originally Posted by Sporkman
IMO, middle class = having to work for a living, but not an excessive amount (i.e. you get weekends), and being able to afford a house & other amenities like a car, nice appliances, the occasional vacation, etc.
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I basically agree with you, but a house costs over 600K where I live right now, but the average household income is only in the 60's. I don't think most middle class people in my city can truly afford to buy a home at these ridiculous prices. Five or six years ago the same house went for $220-250k - still expensive, but within reach for a middle class family.
We rent, have an income close to 90K, and couldn't DREAM of buying a house here. We are middle class (and actually higher than the typical household here). I do look forward to some sanity returning to our housing market, but for now it's a no-go.
I do think a middle class couple probably "should" be able to afford a basic house!