where does the cash come from

[sandm]

seeing the thread on the new tige boat has me again wondering.
we came through lake havasu last weekend and stopped at the channel for lunch. spring break was going on. I was amazed at all the multi-engined powerboats in the channel and tied up. betting there was north of 100 on the lake. knowing these cost over 150k to get a basic magic/sceptre/dcb it also was interesting to see the number being piloted by high20-mid30 year olds.
know a lot is cali money it makes me wonder where all the cash is coming from and what these people are doing to pay for them.

guess I shouldn't be surprised tho as one of my buddies at work has a friend that deals poker at one of the casinos on the strip. guessing shes around 27-30. just paid cash for an '18 c7 droptop.

[sivs1]

First, didn't realize you left Utah and went down to Vegas! Congrats, hope it's a good move for you.

I live in Park City Utah, many many many multi million dollar homes all over, a lot of which are vacation homes used only 3 to 4 weeks a year and the remaining weeks they have staff living in them to insure nothing goes wrong. More recently we've seen an influx of people from out of the country coming in and paying cash for these homes. $5,000,000 cash for a home. Not in my lifetime unless I win Powerball and Utah refuses to have a lottery!

If I do a Zillow search for Park City and $5,000,000 minimum price, the filter maxes out at 500 homes.

Crazy!

[zabooda]

We need another hard market crash as it is a good reality check. Plus it's a great way to buy homes, boats and RVs cheap. These people live for now and they will learn.

[dakota4ce]

It does make you wonder—however, it’s pointless to care or ponder. Work on your own situation and make it the best is how I try to focus as much as I can.

Wishing for a market crash might be the strangest thing I have ever heard. That hurts everyone, but most of all the generation that is looking to retire. Literally crushes them, and they’re not strung out in debt in lots of cases—they’re simply trying to save and be smart as best they can.

I don’t want to appear high and mighty—I used to wonder constantly and it actually stressed me out a little! Feels good to not give a rats ass about how they got their money (or huge loan in most cases). I have what I need and in fact way more than I deserve probably...

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[RC_Hinojosa]

I have what I need and in fact way more than I deserve probably...

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I echo this sentiment!! It's taken a lot of hard work and #grinding but it's way to easy to lose sight of where you came from. Things like what dakota4ce said are the kinda things to help keep me grounded. I am blessed and have to constantly remind myself that.

[rdlangston13]

I wonder the same thing when I roll through Houston and it seems like every neighborhood is packed full of half million dollar houses. Given what the national average family income is, it is hard for me to fathom there are that many people able to put down that much on housing. A couple days ago there was some article talking about how much money you needed to make to buy a house is Houston and this article said you only need to make $38,000 a year to afford a $160,000 house. I thought that was crazy and there is no way someone who makes $38k can spend that much on a house but someone at work corrected me and said that the norm is for your house to cost 5x you annual. We way under bought but don't tell my wife! lol

[sandm]

I echo this sentiment!! It's taken a lot of hard work and #grinding but it's way to easy to lose sight of where you came from. Things like what dakota4ce said are the kinda things to help keep me grounded. I am blessed and have to constantly remind myself that.

don't get me wrong, not complaining as I have a good job, nice rides and about to close on a house that we never thought would be a reality(view of vegas strip is KILLER) but it's still amazing to me to see all the spending and not wonder.

[MJHSupra]

I’m with ya. I do not loose sleep on the topic, but when I pass by a bunch of 200k+ cig boats w/20-30yo, I wonder.

Even funnier when I see their tow rigs at the boat ramps.


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[russellsmojo]

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[sandm]

I hear ya but not what I was seeing

orange Sleek Boat was a good 100k plus used. dual engines and a bumpin stereo and hearing the engines when they left a few minutes after we arrived they were blown and had serious cams. couple on board were, at most, low 30's. 2 small kids under 5 and she was a good 6-8months pregnant.

def. makes ya wonder...

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