Contributor
When I was a kid in the '60s, it was common for working class neighbors (auto plant, steel plant, etc.) to have a vacation home on Lake Ozark. Now, I have enough trouble keeping up one home. Some people have too much money. If I was only going to stay in a home in a resort area for 10-20 days a year, I'd rent something.
< insert spurious quote here >
Contributor
I think your underestimating how many wealthy people there are AND how wealthy those people are.
I do work in ski resort areas and mountain towns. People here own 2 million dollar houses, w/ HOA's, don't use AirBnB's to fill it when they're gone, spend $10k's on upgrades every year and use this house a few weeks out of the year.
Maybe there's a few politicians doing it (statistically there has to be, but what like maybe 100 at most?), but I'm sure the majority are a combo of old money turning into even bigger money, etc thru who knows what. Lawyers, doctors, business owners, finance, CEO's, etc. Growing up with connections, growing up with a huge safety net, etc. You know, the American dream.
Yes, I have 3 phase!
Contributor
This is a problem all across the western world. A small percentage of our population gets wealthier and wealthier, and the rest struggle more.
So the wealthy can park their money in real estate or whatever investments they fancy.
It deadens communities, often whole cities - as Rob Luter said about Vancouver. Our friends from London talk about how so much of the city is owned by middle eastern and Russian money, with nobody living there.
Contributor
Meet - Ryan Kaji.
Ryan is 12 years old.
Ryan has a YouTube channel.
Ryan has a net worth of $100 million dollars.
Ryan isn't alone in that. There are several child multimillionaires.
"Life is what happens to you while you're busy making other plans." - John Lennon
Contributor
Kid has a lot of self discipline. Good for him.Originally Posted by Rich Engelhardt
"What you see and what you hear depends a great deal on where you are standing.
It also depends on what sort of person you are.”
Contributor
Says something about our society that a 12 year old with a Youtube channel can build up a net worth of $100 million while about 38 million people in the US, 47 million in Mexico and 2.4 million in Canada live below the poverty line.
Member
I have seen this situation up close a couple of times. There is a house across the street from me that has been empty for 4.5 years. Somebody comes by to remove the snow, and mow the lawn. The house looks great, just nobody living there. Ever! We found out the caretakers are the grandkids of the owners. Still don't know the reason, but if I had to guess, it would be the same reason as the other house I am familiar with. What if the new owner was planning to retire, and bought a new house in a new state. then said owner announced his retirement at work, and the powers that be offered X amount of extra pay and bonuses to keep a valuable worker. They are now just waiting for the time when they can make a 2nd effort at retiring. The second house I am aware of was in the mid nineties, an 11 million dollar property, built into the side of a ski hill in a resort community. A ski in and ski out home. Nice place, and when I was there, nobody had lived there. You could tell people had stayed overnight, but empty house. The owner was a big wig in a Japanese telecommunications firm. After building the house and announcing retirement, he was offered an incredible amount of money to stay on 5 more years. I hope he has time to enjoy such a house when he does get retired, if he is not already.
Brian
Sawdust Formation Engineer
in charge of Blade Dulling
Contributor
I hope you aren't blaming the kid for this. He reviews toys and writes up kid centered science projects.
People pay him, advertisers pay him. How is he at fault for being paid for his work? Are you not paid for your work?
There are probably not a few people that if they knew your salary (or salary when you worked if you are retired) might think you were overpaid.
If you think he is overpaid, who is doing the overpaying? Shouldn't you be faulting all the people subscribing? especially all the advertisers?
"What you see and what you hear depends a great deal on where you are standing.
It also depends on what sort of person you are.”
Contributor
My comment was "Says something about our society", so no I am not blaming the kid. I would say the same thing about that baseball player who just signed a $700 million contract. So, what do you think that says about our society? I know what I think, just curious what the general consensus is.
Contributor
Oh....OK.....
"What you see and what you hear depends a great deal on where you are standing.
It also depends on what sort of person you are.”
Contributor
Saw similar properties in the North Carolina mountains while working insurance claims there. Snowbirds/Florida property owners who only used these luxury homes a couple of weeks per year.
I'm not mad at them.
Contributor
its a weird world. Just bought groceries looked at Kitchen mags not many left. See Taylor Swift person of the year. Instant thought no my retired cabinetmaker friend Bob whos wife has had MS for 55 years and he ran his shop and took care of her and still does full time all this time. 95 out of 100 would have put her in a home. He cares for her like a saint and through all she has had to deal with is still happy and fun.
No offense to Taylor like Jay Leno she gave a whole big gaggle of money to her crew and both of them get that they have more than enough and its important to value people that helped them get there. Speaks highly of her. Just heard someone famous say that forgot who but it was basically its not just me its all these people around me that made this all possible. Humble wish I remembered who it was.
Been around and worked for money. I asked the old guy about an older businessman once worth over 600 million and still working and pushing ever day. he said you dont get it. I said I dont what is it. He said its about power.
Who gives a damn about that, its not power. My friend who cares for his wife thats power.
Oh remembered it was Arnold who said a number of times its not just him its everyone he was working with and how they helped and together did the stuff. Unique man ego under control, there is a sense of humour with it.
Contributor
My orthopedic surgeon is a man that could put himself above others, I'm sure he makes plenty of money. But instead he is a very humble man, tells me he knows everyone that enters his operating room, from the scrub nurses to the janitor. He would be the first to tell you that without them he could not do his job. He lives in a modest home, in a midscale neighborhood. We could use more people like him
Contributor
know of one that has serious car collection old Ferrari, aston Martin and more. So yeah some of them make big coin.
for sure have at least one friend in the 100's of millions and they do lots for helping others. Worked for one guy past well known was told to charge him more that he expected it. Didnt like the logic so just charged him the same. Later on got 15 years work from others that knew I did his work. Paid off more than I ever would have imagined. Hes gone but lived to make people happy.
I like one friend, hours away from dying the surgeon says you should have been in here three weeks ago. So did the whole big deal heart thing, veins didnt work right him cut up more than just the operation. Some point after the surgery in to see the surgeon, he says thank you Dr.... for saving my life. Doctor non chalont. no problem
Ill do anything to a chunk of wood but being a surgeon and the responsibility to not screw up and have to deal with more than you signed up for at times. Amazing what they do.
Contributor
Monterey county California passed a law that homes can not be rented out for less then one month at a time. Hoping to prevent people driving up house prices by using RBNB to pay their mortgages.
BilL D.
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