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Old 10-28-2024 | 02:29 PM
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Originally Posted by tennisguru
The median home price in the USA is just under $360,000. Yes, a few years ago it was around 200, but there are still plenty of properties out there that aren’t 600k+. Obviously where you live will have a big impact. Here are the median home prices for our domicile states:

CA: 673k
GA: 300k
MI: 211k
MN: 294k
NY: 411k
UT: 475k

And since we can commute that opens up even more states. Lots of affordability within a couple hour drive from a domicile. Yes, it’s not going to be a dream house in a dream location, but there are still affordable options out there, especially for people at our income levels.
Median Home Prices by State
You forgot a base, a rainy one out west. Seriously though, I think doing it by state is a poor way to do it as some of these states are huge and the variance is quite high. You could live in California and still be 700 miles from your base at LAX for instance.

A better stat sheet would be the median value in the metro areas of ATL, NYC, DTW, MSP, SLC, LAX, and SEA. A quick google shows SEA with a median price of over 850K and that sure as heck isn’t getting you a mansion. I’d hate to see what LAX is.

Sure you can commute but that’s a separate issue.

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Old 10-28-2024 | 03:09 PM
  #42  
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Originally Posted by tennisguru
The median home price in the USA is just under $360,000. Yes, a few years ago it was around 200, but there are still plenty of properties out there that aren’t 600k+. Obviously where you live will have a big impact. Here are the median home prices for our domicile states:

CA: 673k
GA: 300k
MI: 211k
MN: 294k
NY: 411k
UT: 475k

And since we can commute that opens up even more states. Lots of affordability within a couple hour drive from a domicile. Yes, it’s not going to be a dream house in a dream location, but there are still affordable options out there, especially for people at our income levels.
Median Home Prices by State
Forgot: MA: $528,333
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Old 10-28-2024 | 03:17 PM
  #43  
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Originally Posted by 20Fathoms
You forgot a base, a rainy one out west. Seriously though, I think doing it by state is a poor way to do it as some of these states are huge and the variance is quite high. You could live in California and still be 700 miles from your base at LAX for instance.

A better stat sheet would be the median value in the metro areas of ATL, NYC, DTW, MSP, SLC, LAX, and SEA. A quick google shows SEA with a median price of over 850K and that sure as heck isn’t getting you a mansion. I’d hate to see what LAX is.

Sure you can commute but that’s a separate issue.
LA city is about $950k median. metro area is about $850k.
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Old 10-28-2024 | 03:24 PM
  #44  
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Originally Posted by tennisguru
The median home price in the USA is just under $360,000. Yes, a few years ago it was around 200, but there are still plenty of properties out there that aren’t 600k+. Obviously where you live will have a big impact. Here are the median home prices for our domicile states:

CA: 673k
GA: 300k
MI: 211k
MN: 294k
NY: 411k
UT: 475k

And since we can commute that opens up even more states. Lots of affordability within a couple hour drive from a domicile. Yes, it’s not going to be a dream house in a dream location, but there are still affordable options out there, especially for people at our income levels.
Median Home Prices by State
That California figure is way off! The median home price in CA is most certainly not 673k.
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Old 10-28-2024 | 03:37 PM
  #45  
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Originally Posted by FangsF15
My response was completely irrespective of pilot anything.

If you are a top 2% earner, in one of, if not the richest countries in the world, complaining that you don’t “make a lot of money”, I submit you need some perspective.

That’s not to say we pilots don’t warrant a raise, nor that historically there have been really some hard times. But in the end, I think you’ve lost touch if you don’t think $240,000 annually “isn’t a lot of money”.

I think you also missed the context around his claims around how long it took him to captain, juxtaposed with his statement about what does not constitute “a lot of money”.

240k in California is definitely not a lot of money.


Originally Posted by CX500T
This has been interesting. Conversations between me and my wife have gone along the lines of:

Her: If you told me back in college (90s) we'd be making what we make ($360-370 this year. 80% ER Captain, live in base, did $467k last year being a GS Ninja) I'd wonder how many motocross tracks we own and how big the mansion is.

Me:
If you told me we'd pay over $1M for a house I'd ask how many motocross tracks are on the property and do I have an indoor arenacross track, and how baller is the pool?

In reality, while we make good money, my dad was able to swing a similar house, on a lot more land the same distance from BOS as I am from LGA as a truck driver.

We (legacy pilots) have good paying jobs. But housing has vastly outpaced wage inflation. That's my single biggest bill.

1979 dad buys a large Victorian in good shape, albeit last updated in the 30s, for $69k. On 40 acres. With a carraige house and barn.

Based off CPI inflation that would be $298k today.

You aren't buying that house for under $1.4M if it still had the acreage. Owners after my parents sold off all but 2 acres. It just sold last year for $988k.

Yup. All of this. Finally bought my CA home for 1.425m last year and it's 3,1xx sq ft and on a 5,500 sq ft lot. When we moved to CA (for the second time) in 2019, I told my wife "no way am I taking a mortgage for a 7 figure home." How times changed in/after the pandemic! I still felt a little uneasy when I bought my home, and I still remember my agent saying don't worry, as long as you don't sell quickly, your home one day will be worth over 2m.


I'm coming up on one year and had a realtor call me saying if I was interested, he could sell my house for 1.650m and do it for a 2% agent fee. No thanks. Our future generations are screwed. Our kids generation will be relying on whatever we can pass onto them (housing, inheritance, $$$). People are not going to be able to afford SFHs based on incomes that are not keeping up.
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Old 10-28-2024 | 03:37 PM
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Originally Posted by ShyGuy
That California figure is way off! The median home price in CA is most certainly not 673k.
and a 7% interest rate right now. Yeah, it’s unaffordable and then some if you’re just buying your first house
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Old 10-28-2024 | 03:43 PM
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Originally Posted by 170Till5
and a 7% interest rate right now. Yeah, it’s unaffordable and then some if you’re just buying your first house
Yup, I locked in 6.625% last year November.

And that creates another catch 22. Who's looking to ditch their 2-3% mortgages to sign up for 6-8% to buy a new home?



Originally Posted by CX500T
Three dogs. Dirtbikes. Not wanting to hear every time the neighbors fight, watch a movie, or smell what they are cooking.

I grew up living in literally a closet under the stairs. And spent over a decade either on a boat or in barracks/clu/chu.

Never again.
And all of this. I own a SFH now but previous ownership was a townhome. I don't know what was worse, the noisy neighbors upstairs or the HOA that would keep making up random stupid rules and enforce some really werid stuff. I had enough of living in apartments and townhomes, which I did pretty much all in my 20s and 30s. I'm 40 now and finally bought a SFH. As a SFH, I have no HOA (a hard requirement for me when looking to buy a home). I don't need some Karen-led organziation to tell me what I can or cannot do on my property.
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Old 10-28-2024 | 03:44 PM
  #48  
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Originally Posted by OOfff
LA city is about $950k median. metro area is about $850k.
NY metro is $833k median.
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Old 10-28-2024 | 04:03 PM
  #49  
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Originally Posted by 20Fathoms
You forgot a base, a rainy one out west. Seriously though, I think doing it by state is a poor way to do it as some of these states are huge and the variance is quite high. You could live in California and still be 700 miles from your base at LAX for instance.

A better stat sheet would be the median value in the metro areas of ATL, NYC, DTW, MSP, SLC, LAX, and SEA. A quick google shows SEA with a median price of over 850K and that sure as heck isn’t getting you a mansion. I’d hate to see what LAX is.

Sure you can commute but that’s a separate issue.
Very true. The median in San Jose for example is $1.4 million.
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Old 10-28-2024 | 07:39 PM
  #50  
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Originally Posted by 20Fathoms
Mind showing your math on that one? 600k plus a year at 438 an hour is what, about 114 hrs a month? Without breaking a sweat? When I was on the widebodies green slips were almost nonexistent unless you were in the top third. I actually never got one.

If an outright majority of our 350 captains pull more than 114 hrs a month I’d be surprised, but maybe times have changed since I was international.
Vacation pay, training pay, international pay, reroute pay, profit sharing, paid trip drops, 415C overage pay and GS's. I broke 600k easily on a 334 dollar an hour rate. I was not close the to the highest paid pilot in my category. The guy who was probably at the top was about 50% in category. Keep in mind that when most pilots quote their pay rate they use their W2. They omit things like their 401K contributions.
That 438 dollar an hour rate becomes 525 an hour after you hit the 415C limit on international pay. Many hit that at the end of the first quarter. A 4 day GS with 25 hours pay is worth 26,000.00 dollars. 1 of those a quarter boosts your pay 100,000 a year! Also keep in mind it boosts your disability over 4000 a month if you do that. Thats the best disability insurance you can get and you only need to fly those 4 extra trips 1 out of every 3 years.
Look at a low work tolerance 330CA. Flies a basic schedule of 960 hour a hear. First 6 months gets 214,000K and hits 415C limit. Second 6 months makes 250K. He is at 474,000. He only gets say 2 reroutes as they happen less on international. Say 40 hours pay. He gets two 3 day trips dropped and WS over it. Picks up another 40 hours. Gets 15 hours training pay and flies a bit extra in his 5 vacation months. Let's say 5 extra those months for 25 total. Could ba a lot more! That's another 55,000 or so a year in pay. He's at 524,000. 8% profit sharing puts another 41k in the mix. 565 K now and he flies 1 good GS that year. Boom! 600,000.00

Last edited by sailingfun; 10-28-2024 at 07:59 PM.
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