Wyoming B.S. Thread

I mean maybe. But also no way. I could say the same thing to you about how you think its not so bad

For instance, my mortgage is a few dollars shy of $3000/mo. And that's "low" by todays standards in the part of the county given how property values have sky rocketed and interest rates have gone up(yes I know they are "low" by standards back in the day but when the average cost of a house is over 400k and where I live is really 500-800k, every bit hurts...a lot). When I first started at TR I only made 50k a year as any hourly person. Now I'm 112k salary.

Going by "rules of old" you aren't supposed to pay more than 29% of your gross income towards living expenses. I'm paying MORE than that just for my mortgage. That doesn't include utilities, maintenance, gas/vehicle maintenance(huge cost where I live give how much we have to drive), taxes, insurance, food, ect.

I'm not saying I'm living poorly. But I can't afford to travel with my wife if she wants to visit her family on the east coast, only pay for her to go. If we lost one of our vehicles in an accident, I'd be fucked. If we got majorly hurt, probably fucked a bit(have insurance but I doubt its stellar).

Granted this is also because I refuse to NOT save money as well. I'm not saving like I was though and while I am putting away money, it's not enough long term. I can't max out our IRA, contributions to broker account is really low, as is my 401k. But it still is growing which is better than nothing.


Now, if I had not been a dumb ass(hind sight 20/20) and bought a property ins 2018-2019 like I should have. I'd have anywhere from 1000-1500 extra cash a month with a mortgage of only 1500-2200/mo. No going back now. real-estate is killing us and the "normal" working family. The low end of middle class now is 145-155k house hold income. Comfortable middle class is 180-220k. Which today, isn't impossible given most households have dual income. But plenty dont, mine included. Devin works but probably only brings home after expenses 18-22k a year. Which helps for sure, but isn't significant. And has no really growth potential.


Anyways, all that is to say. 40-80k for a vehicle is still insane and to have a 600-1200/mo car payment on something that depreciates like a rock is crazy. Not that I'm looking to buy anything new, but I do need to buy something in the coming years at least for Devin. And I don't see how that'll be do able without basically never doing anything.

I mean I have half a house I need to finish(garage and upstairs) and I can't afford it. Dream of a shop and that seems impossible to take on another 75-140k project.

Part of it is where I live. But we can't really leave. Too specialized in our job fields and having a stable job in my field is EXTREMELY rare. Only way we could leave is if Devin got a full time job somewhere teaching and I'd have to go full time freelance. Which isn't impossible. But have to see how she goes about trying to do that.


I know we've talked about this at length around the camp fire. But it's still there and not going away any time soon. At this rate, I'm already scared I'll get priced out of my own house from property tax increases in the next 8 years.

Will see how my employer responds though, I have voiced concerns.

But part of me wants to pull a Ben and just go back to renting lol cheaper in a LOT of ways. Sacrifices though too obviously. But there's a reason why they say that a lot of people who just simply will never be able to afford their own home ever and it's encroaching on the middle class fast.

 

On the bright side though life expectancy in the US has started trending down so technically retirement is getting more affordable

 

Whats retirement?

 

A goal that my apathy has entirely erased at this point, House is on the chopping block as is

 

I mean, I did say that the income/wealth gap is getting out of control, and I see that a lot here on the west coast, so in that sense I agree with you. It can - at least partly - explain why the chart I posted, about wages and inflation rising at approximately the same rate, can be misleading, or at least not tell the whole story.

Also, just to be careful about something - that 29% amount is, I think, for housing costs, not all living expenses. Your "fixed cost" living expenses shouldn't be more than 60% of your income. In that light, you're right at 32% for your house, so pretty close.

The point you are bringing up though - that a lot of folks are into housing costs for more than they can afford, is definitely relevant. The "American Dream" of *owning* a *really nice house* has been pushed to younger and younger folks. It's no longer about starting in something small (a "starter") and then eventually, when it's easier to afford and the starter has appreciated, moving to something more expensive (in late 30s/40s). Or, even staying in rentals longer, until the % math works out better with housing cost/income. Instead, many feel that they "deserve" a house, and the housing industry (out to make a buck) is more than happy to oblige, putting people in mortgages/rates that are barely/untenable, knowing that if they fail to pay, that property is there for the foreclosing. (BTW, I don't put you in this 'entitlement' bucket; from our conversations, you seem pretty tuned into what you can make work, even if it is hard work to do so.)

The whole dual income thing is definitely different than a generation or two ago, and is troubling. And, as you know, for your skills/amount of work, I think you're dramatically underpaid, given the overall expenses it seems like Tippet pays out .

 

I mean it's sorta cheaper. I rent a nice place and I pay $2200/mo. Which I try not to think about how high that really sounds. And I dare not compare to my two mortgages that were $1000-$1300/mo, those just don't exist, at least not for a home that I would feel comfortable in, whether due to location, condition, etc. Not having to worry about the unknown expenses is nice, don't have to worry about an old water heater failing, a furnace going out, it's not my expense to burden. But the sacrifice is, I can't partake in one of my favorite things, working on cars. I've adapted and accepted it as a part of life. Focus on other interests now at least.

Since you brought up household incomes, since becoming single again, my household income dropped by 40%, my rent is almost twice my old mortgage, and yet I have more free cash flow than before .... Hmmm.

What's the solution? Idk, I don't think money is the end all be all. Could I keep driving through employment to find better and better paying jobs? Certainly but it's a gamble of working for a boss who makes every day miserable. Not worth the money at that point. Could stop contributing to retirement and assume the govt is gonna shut my down with the microchips they installed during COVID (LOL). I went with "live in a nice and safe place and drive an old truck" as it seemed like the only viable solution. We will see if things get better or worse in the next few years....

 

Yeah we were definitely too picky for our first home. Mainly me honestly ha. Devin was ready to move into several. But even so, I wouldn't call our house super nice. It's good, but it's not like a dream home either. I do find it backwards that in general, 20-30ish year olds are the ones taht would benefit the most from a big house to start families in. And older folks need smaller homes. Ironic.

I think there is potential to make more, a lot more. And hopefully that's true. Will have to wait and see. I definitely had more finical freedom and security 3-4 years ago when I was renting and making less. I do get to work with some great equipment though, my new room has 230k worth of just speakers. Not to mention the cost of building the room. And we just bough 4 vintage mics worth 78k. I'm certain I could do great work with less and instead would have taken a phhhaaattt asss raise haha

Yeah no mortgages like that anymore. That was a big driver for me when we first started looking. I didn't want to spend over 300k to keep the mortgage under 1500/mo. Passed up a few decent places due to that. Would kill for that 1800/mo mortgage now lol

I could likely find a rental out here with a garge so car work could continue for me. I know for you thats not the case, for now. Sure that will change.

And yeah money isn't end all be all. But sucks to feel "stuck" in a lot of ways too purely due to money. Devin constantly is going, lets go here for a weekend or something. Can we do this next year? Answer is always the same. Sure, if we can afford it. Which we usually can't. At that point, it hurts when if you just had a bit more, things would be a lot better.

 

I think you under value your million dollar view. I have an amazing view of the mountains now. And I thought your house itself is very nice. Your garage is a fucking mess though one day it'll all be worth it for you.

I have looked into renting a house next year, my current rent is inline with a rental home. I think the biggest reason I don't is I don't need that much room. I live comfortably in 900sq ft. And if I were to get a house I would want to find one that I can store the van and save myself $200/mo in storage, but I haven't found something that meets my needs in that regard. So no real drive. Plus, I love my view haha

 

Yeah love my view for sure. Wish I had water though. Yet another thing that could be solved with some more cash..

And who knows, my neighbors could spoil my view as they build. Will see I guess.

Bigger house also means potential roommates. Not that I'm for that. But can make it more affordable. I could never go back to roommate though ha I don't know how my brother does it.

 

Haha no way would roomates improve my quality of life... One thing I've been focusing on since the move is simplify simplify simplify. Keep life simple. I have a quiet simple life right now and it's so damn peaceful. Trying to not have to many things. I don't need things.

 

That's a good way to go.

 

Just a reminder that our good friend @SconnieHailer is a damn artist. This came in the mail today.

 

It's in a good home, thank you for the kind words. My best piece yet I do think.

 

Wow, that's beautiful. I'm a huge fan of my 8" Wusthof and usually I don't find myself swayed, but this looks like a great size, well balanced, and all-around fun to use.

 

I'm really enjoying my 05 Sequoia for a daily/family rig. 17mpg avg is better than I was expecting. Stock suspension is very limited in articulation with the sway bars. Don't think it'll ever be as comfortable of an adventure rig as my Shitbox but time will tell.

 

We are still debating which way to go. Would love a new Sequoia, but it's a lot of money. We will need something in the near future. 4runner is great for local stuff, but took a small road trip to Denver this summer and it's too small for a fam of 4 and luggage. Would like to stick with Toyotas, but not ready for mini van life yet lol

 

Hard to argue with mini vans though. My mom was slow to get one but once she did it was he favorite vehicle she ever had. 08 awd sienna.

But I hear you. I'd like to get Devin an AWD wagon of some kind that get 35+mogs as her Honda insight is almost a wagon. Not a lot of options though.

 

Was just looking at this earlier, looks like a fun car. Some friends have the new sienna and they like it

 

Man that Buick wagon with the turbo 2L was actually kind of slick looking. It was made for GM by Opel, but still I would have rocked one of those. Pretty sure they stopped making them though cuz the American market basically does not give a fuck about wagons. If it ain't a crossover or an SUV we're not buying

 

I would buy one of these if I could find a good one