Could Irvine turn into the Beverly Hills of Orange County?

NEW -> Contingent Buyer Assistance Program
[quote author="High Gravity" date=1242958227][quote author="irvinehapa" date=1242958019]



They could be two lawyers fresh out of USC law or something. They could easily be making $175K at some of the more prestigious law firms in downtown LA. That would be about $350K combined. The enormous student loans would be a killer though.



I can't imagine anyone with a recent undergraduate degree making anywhere near that.</blockquote>


That was exactly my thought. You don't know how often I hear inexperienced young lawyers making over $200k whining about how they are being underpaid and abused by their employers and how poor they are.</blockquote>
No way a first or second year associate makes over $200k, I don't care if they came out of Harvard law. They may make very close to $200k but they work investment banker hours. I'll pass...I'm more than happy making around $100k working 40-45 hours a week. Work life balance FTW!
 
[quote author="usctrojanman29" date=1242958531][quote author="High Gravity" date=1242958227][quote author="irvinehapa" date=1242958019]



They could be two lawyers fresh out of USC law or something. They could easily be making $175K at some of the more prestigious law firms in downtown LA. That would be about $350K combined. The enormous student loans would be a killer though.



I can't imagine anyone with a recent undergraduate degree making anywhere near that.</blockquote>


That was exactly my thought. You don't know how often I hear inexperienced young lawyers making over $200k whining about how they are being underpaid and abused by their employers and how poor they are.</blockquote>
No way a first or second year associate makes over $200k, I don't care if they came out of Harvard law. They may make very close to $200k but they work investment banker hours. I'll pass...I'm more than happy making around $100k working 40-45 hours a week. Work life balance FTW!</blockquote>


Yeah, I think my sister-in-law started at around $175K. I just checked glassdoor.com and looked at a couple firms in downtown LA and the average for a 1st year associate is around 160k-180k.



8th year associates at her firm make $250k-$268k based on these surveys. That's pretty up there. Is it worth it though? I never see her on weekend family gatherings because she is always at work.
 
maybe he's a professional basketball/football/baseball player.



Anyway, if after living in Orange County you start to feel poor, try <a href="http://www.washingtonpost.com/wp-dyn/content/article/2009/05/17/AR2009051702053.html?g=0">living like this for a year or two</a>.
 
[quote author="bkshopr" date=1242958676]According to my income survey poll several months ago the average IHBers income was $270,000/yr.</blockquote>


man. If I had participated in that survey your result would be skewed much lower :P
 
[quote author="irvine_grad" date=1242967306][quote author="bkshopr" date=1242958676]According to my income survey poll several months ago the average IHBers income was $270,000/yr.</blockquote>


man. If I had participated in that survey your result would be skewed much lower :P</blockquote>


Then I forbid my daughter becoming an IrvineGrad.
 
[quote author="bkshopr" date=1242958676]According to my income survey poll several months ago the average IHBers income was $270,000/yr.</blockquote>


Given that the IHB forums get about 1500 visitors a day, it appears that we have managed to capture the interest of the top 2% of wage earners in Irvine.
 
[quote author="zovall" date=1242965880]When I read thedude's post , I figured he just meant their household income is around $150k.</blockquote>


That was my assumption, also. I guess he said it incorrectly.
 
In regards to the OP who posted about having (what we assume he meant) a $150K income with no debt and feeling poor, I can relate. He lives in an area where the homes are very expensive and so many people have or appear to have so much more. When we lived in CDM, we felt the same way. I don't know how many of our neighbors were living beyond their means, but I suspect that many of them did have signficantly more wealth. And you think that being in the top 10% of income nation wide means you're doing well, but you can't fathom ever being as wealthy as your neighbors.



I think areas where there are a lot of "new money" people make the effect even stronger. We ended up moving to a neigborhood that's radically different and now I feel guilty for what we have compared to many of the people I see here. Whenever I go back to CDM I feel the things that I miss, but I also realize that there's a lot that I don't miss. As comfortable as I am in my own shoes, walking down to Zinc cafe to get a coffee in my jeans, grubby (albeit clean, just not designer)t-shirt, pony tail and no make up always made me aware that I didn't fit in.
 
[quote author="stepping_up" date=1242984236]In regards to the OP who posted about having (what we assume he meant) a $150K income with no debt and feeling poor, I can relate. He lives in an area where the homes are very expensive and so many people have or appear to have so much more. When we lived in CDM, we felt the same way. I don't know how many of our neighbors were living beyond their means, but I suspect that many of them did have signficantly more wealth. And you think that being in the top 10% of income nation wide means you're doing well, but you can't fathom ever being as wealthy as your neighbors.



I think areas where there are a lot of "new money" people make the effect even stronger. We ended up moving to a neigborhood that's radically different and now I feel guilty for what we have compared to many of the people I see here. Whenever I go back to CDM I feel the things that I miss, but I also realize that there's a lot that I don't miss. As comfortable as I am in my own shoes, walking down to Zinc cafe to get a coffee in my jeans, grubby (albeit clean, just not designer)t-shirt, pony tail and no make up always made me aware that I didn't fit in.</blockquote>


totally random, but that is why I love belmont shore. It's CDM without the new money attitude. Belmont Shore is a safe, upscale area with good schools walkable to shops and Alamitos Bay yet you just feel comfortable regardless of how much money you make or don't make. And there is a lot of wealth in the surrounding area (Naples, Peninsula, Park Estates, Bixby Knolls, etc.)
 
[quote author="thedude" date=1242903716]Where are people getting the money to afford the the homes, let alone the LV and a Lambo? If you can point to something that is real, tangible, and factual I'll believe it. </blockquote>


Well <A HREF="http://headlines.ocregister.com/articles/keuylian-17349-agreement-lamborghini.html">54 lucky people</A> appearently bought some cheap lamborghinis this past year thanks to OC Lamborghini.



And just because... <A HREF="http://www.redfin.com/CA/Laguna-Hills/27641-Fargo-Rd-92653/home/4875565">Vik's home on Redfin</A>... up in Nellie Gail, went on the market right before he got caught. Never seen the home but you can see it from the 73rd (so he's gonna get traffic noise). He bought the lot next to him as well, and uses it as his yard...



Nellie Gail is sure getting its share of notorious residents the past year, between the Ponzi schemer ($156mil), the Workman's Comp frauder ($30mil), and the lambo dealer ($12mil). I always thought they were an old money neighborhood.



Delroy
 
[quote author="irvinehapa" date=1242958019][quote author="reason" date=1242953962][quote author="bkshopr" date=1242953718][quote author="Sunshine" date=1242953551][quote author="bkshopr" date=1242952008][quote author="Sunshine" date=1242916545][quote author="reason" date=1242913335][quote author="Look4house" date=1242912078][quote author="thedude" date=1242903716]Desire will never equal affordability. If the average household income for Irvine really is 90-100K then what you see MUST be over priced. My wife and I are fresh out of college for 1 year and we make a middle 6 figure income with no debt. School, cars, and Coach handbags are paid for. I feel poor renting a one bedroom apartment in Irvine around the QH / TR area. Where are people getting the money to afford the the homes, let alone the LV and a Lambo? If you can point to something that is real, tangible, and factual I'll believe it. Show me the money! I'm not going to believe in the mythology of rich Asians, wealthy ancestors, law degrees, and a Ben Franklin printing press powered by unicorn farts! I do believe in insane financial products inflating a bubble designed and engineered to maximize the profits and benefits for the people at the top in a short sighted dash for personal wealth and self gratification.</blockquote>


1 year out of college with a household income in the 6 figures, no debt and you feel poor? Please sell your Ferrari, go back to school and take Finance 101. No offense, I wish I made that much money when I fresh came out of college.</blockquote>


Lets see. "Thedude" has no debts. "School, cars, and Coach handbags are paid for." <strong>They make "middle 6 figure income". I guess that would be $150k annually</strong> minus income taxes = approx. $70k annually = $5600/mo. He and his wife rent a 1 bdrm in QH/TR which comes out to be $2000/mo. with utilities. The only other expenses I can think for them would be gasoline, groceries, auto insur. and going out on the weekends. That's another $1000/mo. (splurging here).



Take home is $5600/mo. - $2000 rent/utilities - $1000 miscellaneous = $2600 left over.



Huh?! I keep thinking maybe he has car payments. But that's paid for. And there's no student loans. No debts. Could it be too much money spent on alcohol?....alimony?...child support?</blockquote>


"Middle 6 figure income" is not $150k.</blockquote>




Middle 6 figure is (999,999-100,000)/2</blockquote>


999,999-100,000/2 = about $450K, BUT, the starting point of 6 figures is 100K, and so 100K+ 450K=$550K</blockquote>


Thank you for the addentum.</blockquote>


Haha! Are we still at it? Honestly, I have never heard of someone saying "I make in the 'middle 6 figure income'". Cause 6 figure is 100k.....so in the middle could be 100k/2 = $50k....Hahaha!</blockquote>


They could be two lawyers fresh out of USC law or something. They could easily be making $175K at some of the more prestigious law firms in downtown LA. That would be about $350K combined. The enormous student loans would be a killer though.



I can't imagine anyone with a recent undergraduate degree making anywhere near that.</blockquote>


Neither of them are attorneys. I've never heard a recent law school grad ever refer to law school as college. Graduate school, yes, but not college. Similarly, no law school student would ever say that he/she was in college. The fact of the matter is that law students and attorneys (and others who have advanced degrees or who are working towards advanced degrees) take pride in their advanced degrees. Some law students and attorneys take it a step further and have huge egos that lead them to shout "I'm in law school" or "I'm an attorney" from the rooftops. This latter group drove me nuts in law school and they drive me nuts today.
 
[quote author="reason" date=1242917440][quote author="swkin" date=1242916055][quote author="stepping_up" date=1242871101]Doesn't Singapore have signs banning it from the streets as well?</blockquote>


yes, it's pretty sad what hotels would do to please tourist.... you want to taste south east asia? SEA has the some of the most sensual and tactile fruits in the world, let alone the taste... like heaven... come to where the flavor is.... the durian....</blockquote>


You sound like you're a durian wholesaler/distributor. :-)</blockquote>


More like a local that misses home... i have brought some Yanks home with me and the sumptuous fleshy fruits actually aroused one of my female friends, and an older gentlemen who could not stop raving about it... with the exception of durian of course, its an acquired taste, there are Asians who it....
 
[quote author="IrvineRenter" date=1242974242][quote author="bkshopr" date=1242958676]According to my income survey poll several months ago the average IHBers income was $270,000/yr.</blockquote>


Given that the IHB forums get about 1500 visitors a day, it appears that we have managed to capture the interest of the top 2% of wage earners in Irvine.</blockquote>
Or the top 2% of people who need a liar loan.
 
[quote author="Sunshine" date=1243000854][quote author="irvinehapa" date=1242958019][quote author="reason" date=1242953962][quote author="bkshopr" date=1242953718][quote author="Sunshine" date=1242953551][quote author="bkshopr" date=1242952008][quote author="Sunshine" date=1242916545][quote author="reason" date=1242913335][quote author="Look4house" date=1242912078][quote author="thedude" date=1242903716]Desire will never equal affordability. If the average household income for Irvine really is 90-100K then what you see MUST be over priced. My wife and I are fresh out of college for 1 year and we make a middle 6 figure income with no debt. School, cars, and Coach handbags are paid for. I feel poor renting a one bedroom apartment in Irvine around the QH / TR area. Where are people getting the money to afford the the homes, let alone the LV and a Lambo? If you can point to something that is real, tangible, and factual I'll believe it. Show me the money! I'm not going to believe in the mythology of rich Asians, wealthy ancestors, law degrees, and a Ben Franklin printing press powered by unicorn farts! I do believe in insane financial products inflating a bubble designed and engineered to maximize the profits and benefits for the people at the top in a short sighted dash for personal wealth and self gratification.</blockquote>


1 year out of college with a household income in the 6 figures, no debt and you feel poor? Please sell your Ferrari, go back to school and take Finance 101. No offense, I wish I made that much money when I fresh came out of college.</blockquote>


Lets see. "Thedude" has no debts. "School, cars, and Coach handbags are paid for." <strong>They make "middle 6 figure income". I guess that would be $150k annually</strong> minus income taxes = approx. $70k annually = $5600/mo. He and his wife rent a 1 bdrm in QH/TR which comes out to be $2000/mo. with utilities. The only other expenses I can think for them would be gasoline, groceries, auto insur. and going out on the weekends. That's another $1000/mo. (splurging here).



Take home is $5600/mo. - $2000 rent/utilities - $1000 miscellaneous = $2600 left over.



Huh?! I keep thinking maybe he has car payments. But that's paid for. And there's no student loans. No debts. Could it be too much money spent on alcohol?....alimony?...child support?</blockquote>


"Middle 6 figure income" is not $150k.</blockquote>




Middle 6 figure is (999,999-100,000)/2</blockquote>


999,999-100,000/2 = about $450K, BUT, the starting point of 6 figures is 100K, and so 100K+ 450K=$550K</blockquote>


Thank you for the addentum.</blockquote>


Haha! Are we still at it? Honestly, I have never heard of someone saying "I make in the 'middle 6 figure income'". Cause 6 figure is 100k.....so in the middle could be 100k/2 = $50k....Hahaha!</blockquote>


They could be two lawyers fresh out of USC law or something. They could easily be making $175K at some of the more prestigious law firms in downtown LA. That would be about $350K combined. The enormous student loans would be a killer though.



I can't imagine anyone with a recent undergraduate degree making anywhere near that.</blockquote>


Neither of them are attorneys. I've never heard a recent law school grad ever refer to law school as college. Graduate school, yes, but not college. Similarly, no law school student would ever say that he/she was in college. The fact of the matter is that law students and attorneys (and others who have advanced degrees or who are working towards advanced degrees) take pride in their advanced degrees. Some law students and attorneys take it a step further and have huge egos that lead them to shout "I'm in law school" or "I'm an attorney" from the rooftops. This latter group drove me nuts in law school and they drive me nuts today.</blockquote>


Whatever do you mean ? ! ? !



Signed,



Jody Messina, J.D.

University of Denver College of LAW
 
[quote author="Sunshine" date=1243000854]



Neither of them are attorneys. I've never heard a recent law school grad ever refer to law school as college. Graduate school, yes, but not college. Similarly, no law school student would ever say that he/she was in college. The fact of the matter is that law students and attorneys (and others who have advanced degrees or who are working towards advanced degrees) take pride in their advanced degrees. Some law students and attorneys take it a step further and have huge egos that lead them to shout "I'm in law school" or "I'm an attorney" from the rooftops. This latter group drove me nuts in law school and they drive me nuts today.</blockquote>


If you want to talk about self aggrandizement, the basic law degree in every other English speaking country is called a LLB (bachelor of law) but in the USA, the same degree is called a JD (doctor of law). This leads to the ironic situation where the next degree after a JD is an LLM (master of law); yes, only in America, you have to have a "doctorate" degree in order to get a master degree in law.



But the most hilarous thing is the suffix "esquire" which is a British term denoting gentry status. I'm not sure how many attorneys in the USA own land in England but I would suspect not many and yet they all refer to themselves as "esquire."
 
[quote author="bkshopr" date=1242970199][quote author="irvine_grad" date=1242967306][quote author="bkshopr" date=1242958676]According to my income survey poll several months ago the average IHBers income was $270,000/yr.</blockquote>


man. If I had participated in that survey your result would be skewed much lower :P</blockquote>


Then I forbid my daughter becoming an IrvineGrad.</blockquote>


yea...drug dealing just doesn't pay like it used to.....
 
[quote author="irvine_grad" date=1243034538][quote author="bkshopr" date=1242970199][quote author="irvine_grad" date=1242967306][quote author="bkshopr" date=1242958676]According to my income survey poll several months ago the average IHBers income was $270,000/yr.</blockquote>


man. If I had participated in that survey your result would be skewed much lower :P</blockquote>


Then I forbid my daughter becoming an IrvineGrad.</blockquote>


yea...drug dealing just doesn't pay like it used to.....</blockquote>


yeah tell me about it, a legal drug pusher isn't what it used to be...
 
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