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Exactly! Within Irvine, about 25% of households make some pretty impressive incomes: 150K+



Leaving 75% of households below 150K... so the 85K average starts to become more reasonable and reliable.



I for one don't think that the experiences of some are abberations - after all, if you live in a SFR neighborhood, you probably will have lots of neighboors that can afford those homes... but as discussed on this blog, Irvine has a high number of apartments and condos... a deceptively high number. Just look at the recent writeup about Woodbridge.



As for that Orchard Hills info... If I remember correctly, several of us received that survey about a year ago? Maybe less? I for one seem to remember indicating that I made far more than I really do... In hopes of encouraging more SFRs and fewer attached products...
 
[quote author="Bubblegum" date=1211708925]Well, let's just use the latest census data from 2006:



Households with familes:



150-199K: 6,495

200K+: 7,478



This is out of 63,646 household w/ families.</blockquote>


What's a family? Does it include DINKs?
 
Bubblegum and GrewupinIrvine,



I've got the latest stats in 2007 for median income in Irvine. Among 156,300, the median familly income is $101,564. It seems that Irvine is attracting more and more high income earners as the median family income is rising every year. Again this is median income. The average could very well be $85,000.



From Bubblegun's stats, If you are making over $200,000 house hold income, that put you in the top 16% of all Irvine households compared to the top 2-3% nationally. It seems that Irvine is truly attracting these affluent households.



http://money.cnn.com/magazines/moneymag/bplive/2007/snapshots/PL0636770.html



Bubblegum, am i correct on this that a household making more than $200,000 is in the top 16% of all Irvine household income?
 
Looks like I mistyped. The 64K number is total households, which includes families and non-family household.



For Families only:



150-199K = 5,512

200K+ = 6,769

Total Families = 42,362

Family Median Income = 103,604

Family Average Income = 126,736



<a href="http://factfinder.census.gov/servlet/ADPTable?_bm=y&-geo_id=16000US0636770&-qr_name=ACS_2006_EST_G00_DP3&-ds_name=ACS_2006_EST_G00_&-_lang=en&-_sse=on">US Census 2006 for Irvine</a>



Family definition



Family Type ? A family consists of a householder and one or more other people living in the same household who are related to the householder by birth, marriage, or adoption. All people in a household who are related to the householder are regarded as members of his or her family. A family household may contain people not related to the householder, but those people are not included as part of the householder?s family in tabulations. Thus, the number of family households is equal to the number of families, but family households may include more members than do families. A household can contain only one family for purposes of tabulations. Not all households contain families since a household may be comprised of a group of unrelated people or of one person living alone ? these are called nonfamily households.

Families are classified by type as either a ?married-couple family? or ?other family? according to the sex of the householder and the presence of relatives. The data on family type are based on answers to questions on sex and relationship that were asked of all people.

? Married-Couple Family ? A family in which the householder and his or her spouse are listed as members of the same household.

? Other Family:

o Male Householder, No Wife Present ? A family with a male householder and no spouse of householder present.

o Female Householder, No Husband Present ? A family with a female householder and no spouse of householder present.
 
I suspect that if / when they release more recent updates that the 150-199 and 200K+ totals would be lower. 2006 was the height of the bubble, RE agents, mortgage brokers, and anybody in that industry probably a boatload of money in 2006.
 
According to the census data, about 20% or more of the 63k+ households moved into Irvine from 2004 on.



About 30K of the households have mortgages, and 40% of those households spent 35% or more of their household income on their mortgage.



In 2000, 24k households had a mortgage, and 25% of those households spent 35% or more of their household income on their mortgage.



Um... if you can't see the problem here, then your econ teacher needs to take your passing grade away, and fast.



Stats don't lie, but liars lie about the stats, and I am not lying.
 
[quote author="PANDA DREAMING OF IRVINE" date=1211719841]Bubblegum and GrewupinIrvine,



From Bubblegun's stats, If you are making over $200,000 house hold income, that put you in the top 16% of all Irvine households compared to the top 2-3% nationally. It seems that Irvine is truly attracting these affluent households.



Entirely correct. Remember, OC and Irvine (Newport Beach) are not indicative of the rest of the United States.
 
Thanks for reposting the Census link and the definition. That really helps. 2006 is an interesting year, as that was pretty much the top for a lot people. I got a hold of a doc from <a href="http://www.californiaforecast.com/">the California Economic Forecast</a> (maybe Zovall will buy a copy of the OC report for the blog and Graph can interpret), but these charts (only a few pages of 43 total - Fair Use!) were pretty interesting to me:



<img src="http://i210.photobucket.com/albums/bb27/evalseraphim/Econforecast_Page_12.jpg" alt="" />



<img src="http://i210.photobucket.com/albums/bb27/evalseraphim/Econforecast_Page_13.jpg" alt="" />



(Sorry for the Riverside data, but I couldn't split it out.)
 
One of of the pages of the census data listed the top 10 employers. From what I remember, UCI was on top, followed by IUSD, then a bit down the list were New Century Financial, Ameriprise (Ameriquest), and near the bottom Option One Mortgage. Then latter three are for the most part, gone. There must have been at least 5000 jobs between those three companies that are gone.
 
not many of the employees from the top two employers will represent irvine housing buyers, then, since most of their wages are too low to buy in irvine.
 
These stats remind me a lot of the Silicon Valley .com bust in 2000 when i was working there. Except this time in Irvine, the tech jobs are like the real estate jobs. These charts are indicating to me that we are in for a deep recession in Orange County, CA.



I agree that average 2006 incomes were at the peak and 2008 numbers are going to be lower, when the new house hold income stats come out, I'm thinking that a $200,000 + a year income should put you in the top 8 - 10% of all households in Irvine. My hats off to you IPO.
 
I apologize for the derailed insert. You asked about the bad Feng Shui of toilet over entry. Plan 1 of Wisteria 2/2 has exactly that. The family living right behind you were faced with cancer. Mom and auntie are both in their early 40's and both just had their cancer removed. They were serious. The little girl is fine. Hang a crystal sphere at the lower level ceiling right below your toilet. I have been tracking residents of plan one and apparently 6 different families recently had cancer operations. Wierd?



[quote author="ipoplaya" date=1211695196][quote author="GrewUpInIrvine" date=1211692932][quote author="awgee" date=1211692024]My opinion - I see alot of tax returns every year, and over $200,000 annually is way more than most and way more than most who live in Irvine and buy homes in Irvine. Most folks who live more affluent lifestyles than Ipop are living on debt, or they have owned their homes for a long time.</blockquote>


I completely agree that most households do not earn 200K or more per year. The statistics make clear that these households are in the top 2-3% nationally. Sure, its not Bloomberg-like wealth, but its nothing to scoff at. Personally, I worked my tail off to get there, and probably had more dumb luck than hard work on top of it all... but I'm still proud of it... but its not like wealth makes you better than anyone else...



I also agree that most people living lavish life-styles cannot afford what they are doing... which is why the REO's are coming.</blockquote>


I can only assume based on my experience that people earn a lot more money than people think. I live for the most part in a median home, 3/2 1600sf detached condo. Next door to the left, double wage earning couple, husband over $100K, probably $110-115K with bonus, wife at around $80K. I don't think either one of them even have advanced degrees, just bachelors. On the other side of me, single wage earner working for Volvo making a good north of $100K as well... In my condo complex of 164 units, I can think of at least 10-15 individuals likely making more than $100K per year. There are bound to be a bunch of people I don't even know that hit that level of comp. Some of the families we know that have moved on to larger homes had $100K+ individual earners as well.



Is this an aberration? My median-size home development is West Irvine (not exactly a super premium Irvine development) has at least over 3% of its earners making $100K+. Likely a few percent more than that. Many of the households of these wage earners are double income households as well... Do the highly compensated but frugal somehow flock to West Irvine? The notion seems absurb. If this is the case in my 1200-1600sf condo development , is it realistic to assume that all those families in much larger Northpark homes make the same or less. As a general rule, wouldn't it be much more likely that there were a greater number of $100K+ per year earners living there?!</blockquote>
 
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