Average Income in Irvine

[usctrojancpa]

I've been watching this thread with amusement (nobody likes a good TI argument more than me!), but I never really understood the correlation between household income and home buying/home ownership. Of course it's logical that people with higher incomes can buy more expensive houses...but a lot of people don't buy a house based on straight income. Some get money from their family, others trade up by selling a home that has increased in value, and others were fortunate enough to buy years ago, and now live in an area where they would not be able to buy if they had to do it all over.

Just anecdotally, we have family friends that live in a very expensive part of Huntington Beach. Their income has always been very modest, but they purchased their first house 40ish years ago, and just kept selling and moving up as prices have gone up. If a new prospective homebuyer were to try to buy into their neighborhood now, based on income alone, they'd need to earn lots more money than our friends do.

That's why I said that it's a case-by-case situation.  Yeah you can say on average this type of buyer will tend to have this type of income range, but there are so many other variables to consider. 

 

[irvinehomeshopper]

Not an exclusive arrangement but Irvinites saved up their lunch allowances and blow it all on one visit to a village ho who also provides love to many neighbors.

And a big family of many kids.

And you can't afford extra wives or women on the side.

 

[MovingOnUp]

I've been watching this thread with amusement (nobody likes a good TI argument more than me!), but I never really understood the correlation between household income and home buying/home ownership. Of course it's logical that people with higher incomes can buy more expensive houses...but a lot of people don't buy a house based on straight income. Some get money from their family, others trade up by selling a home that has increased in value, and others were fortunate enough to buy years ago, and now live in an area where they would not be able to buy if they had to do it all over.

Just anecdotally, we have family friends that live in a very expensive part of Huntington Beach. Their income has always been very modest, but they purchased their first house 40ish years ago, and just kept selling and moving up as prices have gone up. If a new prospective homebuyer were to try to buy into their neighborhood now, based on income alone, they'd need to earn lots more money than our friends do.

That's why I said that it's a case-by-case situation.  Yeah you can say on average this type of buyer will tend to have this type of income range, but there are so many other variables to consider.

Mikeirvine disagrees with your assessment.

 

[irvinehomeshopper]

if I had to take money from my wife or her parents to buy a house I would rather rent until I have the resource to purchase a modest home.

 

[usctrojancpa]

I've been watching this thread with amusement (nobody likes a good TI argument more than me!), but I never really understood the correlation between household income and home buying/home ownership. Of course it's logical that people with higher incomes can buy more expensive houses...but a lot of people don't buy a house based on straight income. Some get money from their family, others trade up by selling a home that has increased in value, and others were fortunate enough to buy years ago, and now live in an area where they would not be able to buy if they had to do it all over.

Just anecdotally, we have family friends that live in a very expensive part of Huntington Beach. Their income has always been very modest, but they purchased their first house 40ish years ago, and just kept selling and moving up as prices have gone up. If a new prospective homebuyer were to try to buy into their neighborhood now, based on income alone, they'd need to earn lots more money than our friends do.

That's why I said that it's a case-by-case situation.  Yeah you can say on average this type of buyer will tend to have this type of income range, but there are so many other variables to consider.

Mikeirvine disagrees with your assessment.

Hahaha  I guess everyone can have an opinion even though I know I'm right. 

 

[MovingOnUp]

if I had to take money from my wife or her parents to buy a house I would rather rent until I have the resource to purchase a modest home.

And that's why you're  just an irvinehomeshopper and he's mikeirvine.

 

[rkp]

have not been to TI in nearly a month...who the heck is MikeIrvine and whats the inside joke here...

 

[IndieDev]

He called people "whining losers"? Hmmmmmmmmmm... sounds very similar to someone in my sig.

 

[IndieDev]

Mikeirvine disagrees with your assessment.

I don't know who this MovinOnUp is, but I sure like he/she.

MovingOnUp must be someone from IHB, but whoever they are, I hope they stick around.

 

[IndieDev]

if I had to take money from my wife or her parents to buy a house I would rather rent until I have the resource to purchase a modest home.

And that's why you're  just an irvinehomeshopper and he's mikeirvine.

IHS is just a jealous loser who wishes he could live in a Sonoma house optioned up over $1M like Mikeirvine.  At least the five adjoining houses that can peer down on him enjoying his 10 ft deep tropical backyard and the sounds of garbage trucks rumbling by were included in the price.  If he needed to pay extra for those features it would have gotten really expensive, and his wifes dad would have had to really nut up to give them the *good life*.

But hey, at least it's just as affordable as 1995, depending on how much money you make, and how big of a house you want, and which freeway you're next to, and what plaza is close by, or maybe I'm just trying to make up a big fat lie about Irvine affordability so I can back up my own flawed theory which I've decided to turn into a survey for all of you to participate in.

 

[so_scared]

have not been to TI in nearly a month...who the heck is MikeIrvine and whats the inside joke here...

hey rkp, is that you rolling around in a certain german auto with the license plate of the same handle? 

 

[irvinehomeshopper]

I don't think it is an Asian thing exclusively it could be a white guy who married an Asian girl. Gifting a large sum of down payment for a house purchase is more common in Asian culture.

if I had to take money from my wife or her parents to buy a house I would rather rent until I have the resource to purchase a modest home.

Really? Is that an Asian thing? I would not take money from my own parents but would not hesitate to take it from my wife or her parents. Unfortunately, the rich women never had any interest in me.

 

[irvinehomeowner]

But hey, at least it's just as affordable as 1995, depending on how much money you make, and how big of a house you want, and which freeway you're next to, and what plaza is close by, or maybe I'm just trying to make up a big fat lie about Irvine affordability so I can back up my own flawed theory which I've decided to turn into a survey for all of you to participate in.

Or maybe you don't read very well.

The survey doesn't speak about the affordability of Irvine... just that some people use income to determine whether home prices are affordable and that the current measurements of income are not accurate because of many variables.

In addition, due to some people having high incomes, Irvine is affordable for them, or else no home in Irvine would sell. You asked who are these people? Ask your buddy USC, he just sold a Westpark II 3CWG home to someone for over $800k (which sold for mid $300ks during your magic 1995 year). I'm sure it was affordable for them.

And as Liar Loan said, of course Irvine is less affordable as a whole vs 1995... many cities are like that. But you're the one who keeps saying that based on Fundamomics, Irvine will fall back to those affordability levels... so what year is that? 1995? 1999? And do you believe your own hype? You keep saying they will drop but at the same time keep saying how inflated they are. So when will Irvine get there... 2021 like ihs claims with his own definition of when the recession ends?

Where did you say Antioch was going to close again? Care to capitulate more?

See... anyone on this forum can play hyperbole and strawman... but don't think it makes you look like a smart asian.

 

[MovingOnUp]

have not been to TI in nearly a month...who the heck is MikeIrvine and whats the inside joke here...

Some rich guy who married an even richer woman. I remember some posters got mad as hell, as this is apparently against the code of ethics.

No, it is not against any code of ethics.  But it is not cool when you start trying to rub the noses of self-made people in it, by calling them jealous or whining losers.  Sorry, in my book the loser is the one accepting likely ill-gotten corrupt gains --- not to mention that he is not even the one who had either the smarts or connections to get rich in China, he relied on his wife's family.  Seriously, I've never really understood --- how do people get so rich in a Communist regime?  And are these the type of people you want as your neighbors? The influx of classless Mikeirvine's to Irvine from the mainland is not an upside in my book.  Sorry if that angers anyone, but I call it like I see it.

But that's ok, it all works out in the end.  Who's the loser now?  You couldn't pay me $1M to live in a 3 bed Sonoma shitbox next to fine folks like Mikeirvine.

If it was self made, respectable. If it was from his parents, jealous.  But it was from his in-laws. And it's not like the in-laws bought the house for him, it was for their daughter because their son in law failed to provide the lifestyle their child was accustomed to. In their eyes, they made up for what he lacked.

With that in mind, he then came on here to brag about his 2010 collection home and how we were all jealous. And he wanted to meet in person all the TI folks that would be his future neighbors. Sad part was, people only wanted to meet his wife to ask for siblings.

 

[usctrojancpa]

have not been to TI in nearly a month...who the heck is MikeIrvine and whats the inside joke here...

Some rich guy who married an even richer woman. I remember some posters got mad as hell, as this is apparently against the code of ethics.

No, it is not against any code of ethics.  But it is not cool when you start trying to rub the noses of self-made people in it, by calling them jealous or whining losers.  Sorry, in my book the loser is the one accepting likely ill-gotten corrupt gains --- not to mention that he is not even the one who had either the smarts or connections to get rich in China, he relied on his wife's family.  Seriously, I've never really understood --- how do people get so rich in a Communist regime?  And are these the type of people you want as your neighbors? The influx of classless Mikeirvine's to Irvine from the mainland is not an upside in my book.  Sorry if that angers anyone, but I call it like I see it.

But that's ok, it all works out in the end.  Who's the loser now?  You couldn't pay me $1M to live in a 3 bed Sonoma shitbox next to fine folks like Mikeirvine.

If it was self made, respectable. If it was from his parents, jealous.  But it was from his in-laws. And it's not like the in-laws bought the house for him, it was for their daughter because their son in law failed to provide the lifestyle their child was accustomed to. In their eyes, they made up for what he lacked.

With that in mind, he then came on here to brag about his 2010 collection home and how we were all jealous. And he wanted to meet in person all the TI folks that would be his future neighbors. Sad part was, people only wanted to meet his wife to ask for siblings.

Guilty as charged, I did ask him if his wife had a cute, single sister.  :-X

 

[irvinehomeshopper]

When Asian parents give money to the son to buy a house that is ok. If parents give money to the son-in-law that is a polite way to say to the son in law that their daughter did not marry well.

I don't think it is an Asian thing exclusively it could be a white guy who married an Asian girl. Gifting a large sum of down payment for a house purchase is more common in Asian culture.

Why didn't you tell me that 10 years ago? I would have married an Asian girl. And why would you not take the money?

 

[MovingOnUp]

have not been to TI in nearly a month...who the heck is MikeIrvine and whats the inside joke here...

Some rich guy who married an even richer woman. I remember some posters got mad as hell, as this is apparently against the code of ethics.

No, it is not against any code of ethics.  But it is not cool when you start trying to rub the noses of self-made people in it, by calling them jealous or whining losers.  Sorry, in my book the loser is the one accepting likely ill-gotten corrupt gains --- not to mention that he is not even the one who had either the smarts or connections to get rich in China, he relied on his wife's family.  Seriously, I've never really understood --- how do people get so rich in a Communist regime?  And are these the type of people you want as your neighbors? The influx of classless Mikeirvine's to Irvine from the mainland is not an upside in my book.  Sorry if that angers anyone, but I call it like I see it.

But that's ok, it all works out in the end.  Who's the loser now?  You couldn't pay me $1M to live in a 3 bed Sonoma shitbox next to fine folks like Mikeirvine.

If it was self made, respectable. If it was from his parents, jealous.  But it was from his in-laws. And it's not like the in-laws bought the house for him, it was for their daughter because their son in law failed to provide the lifestyle their child was accustomed to. In their eyes, they made up for what he lacked.

With that in mind, he then came on here to brag about his 2010 collection home and how we were all jealous. And he wanted to meet in person all the TI folks that would be his future neighbors. Sad part was, people only wanted to meet his wife to ask for siblings.

Guilty as charged, I did ask him if his wife had a cute, single sister.  :-X

LOL. I only threw in that last part as a joke, but you really asked. Awesome.

 

[so_scared]

When Asian parents give money to the son to buy a house that is ok. If parents give money to the son-in-law that is a polite way to say to the son in law that their daughter did not marry well.

I don't think it is an Asian thing exclusively it could be a white guy who married an Asian girl. Gifting a large sum of down payment for a house purchase is more common in Asian culture.

Why didn't you tell me that 10 years ago? I would have married an Asian girl. And why would you not take the money?

Not true. There is a rule of thumb in certain asian societies that the girl should bring more wealth the more capable the husband is to "equalize" the marriage.

So for example, if you marry a doctor, you are supposed to bring several "keys."

These keys include
1) house
2) office
3) cash box
4) car

In fact, they use match makers to negotiate exactly what should be brought by the wife when the husband is highly credentialed and high potential earner.

 

[irvinehomeshopper]

2021 is when you should buy right before the price hike not when the recession ends. You can buy now and let your finance bleed.

2021 like ihs claims with his own definition of when the recession ends?

 

[MovingOnUp]

When Asian parents give money to the son to buy a house that is ok. If parents give money to the son-in-law that is a polite way to say to the son in law that their daughter did not marry well.

I don't think it is an Asian thing exclusively it could be a white guy who married an Asian girl. Gifting a large sum of down payment for a house purchase is more common in Asian culture.

Why didn't you tell me that 10 years ago? I would have married an Asian girl. And why would you not take the money?

Not true. There is a rule of thumb in certain asian societies that the girl should bring more wealth the more capable the husband is to "equalize" the marriage.

So for example, if you marry a doctor, you are supposed to bring several "keys."

These keys include
1) house
2) office
3) cash box
4) car

In fact, they use match makers to negotiate exactly what should be brought by the wife when the husband is highly credentialed and high potential earner.

What you're talking about is korean. I'm korean and my brother is a doctor, but my family would never expect anyone to really bring 4 keys unless the wife's family was balling out of control...talking minimum 10 million plus net worth. And the wife herself was a music/art major at an elite school and didn't have a job/career. That's when the 4 keys comes into play. Most korean americans don't follow this and if the girl comes from an average family, educated, goes to church, parents aren't dead or divorced, etc etc, it will do.

But more importantly, mike was no doctor nor do i think he was korean.