Oil companies have no fear it seems

[MBV77]

This is especially true for those trying to get their lives going and buying homes and vehicles for the first time. Sure 250k is a lot to those who already have homes at old valuations but it’s really not a lot to get going right now. Housing is just crazy. New families will struggle a lot more than established

$250,000 a year is almost a gross of $21,000 a month. If you can’t but a house and establish a family on that right now then you’re doing it wrong. My guess is that 80%(Probably higher) of the members on this site don’t have a household income of $250K a year.


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[slayr]

$250,000 a year is almost a gross of $21,000 a month. If you can’t but a house and establish a family on that right now then you’re doing it wrong. My guess is that 80%(Probably higher) of the members on this site don’t have a household income of $250K a year.


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Understand what you’re saying, but let’s take 20% of that for 401k, then take taxes from that amount (higher tax bracket, too), then take insurance….the net amount is much less lucrative than you originally think.

[Colton]

Understand what you’re saying, but let’s take 20% of that for 401k, then take taxes from that amount (higher tax bracket, too), then take insurance….the net amount is much less lucrative than you originally think.

You could say the same (minus tax bracket) for a wide range of incomes

[PondPopper]

No offense man but you are talking about 10 years ago, the price of housing sky rocketed 2 years ago

Although I do agree that those saying “250 isn’t what it used to be” still make a **** load more than most people.

Oh it can be done but you'll have to let the Jones's run off and leave you and be OK with it..
I'm old enough to remember when a "starter home" was 750-1100 sq. feet and a new vehicle for young newly wed couple was the most basic vehicle on the lot..

Today that is 2500-3000 sq ft and both are driving 70k-90k vehicles... The amount of debt people are comfortable living in these days is interesting to say the least. Its definitely the new trend.

My wife is a broker.. I see it weekly.

[Colton]

Oh it can be done but you'll have to let the Jones's run off and leave you and be OK with it..
I'm old enough to remember when a "starter home" was 750-1100 sq. feet and a new vehicle for young newly wed couple was the most basic vehicle on the lot..

Today that is 2500-3000 sq ft and both are driving 70k-90k vehicles... The amount of debt people are comfortable living in these days is interesting to say the least. Its definitely the new trend.

My wife is a broker.. I see it weekly.

Right. I agree that if you’re paycheck to paycheck at 250k it’s your own fault, I’m just saying 250k annually is a **** load more money than most households bring in.

[tps7742]

You are thinking inside your little box. The increased demand in the US is from exports to countries that were supplied by Russia.

I think the biggest misconception people have about oil companies is that they make their money selling gasoline and diesel to the end users on the street.

Oil companies make a majority of their profits from exploration/drilling and refining margins.

While the marketing arm is set up to make money, it is mostly used to help move product so they can refine more.

This fellow has been in or around refineries.

[PondPopper]

Right. I agree that if you’re paycheck to paycheck at 250k it’s your own fault, I’m just saying 250k annually is a **** load more money than most households bring in.

For sure..

[Mayhem]

$250,000 a year is almost a gross of $21,000 a month. If you can’t but a house and establish a family on that right now then you’re doing it wrong. My guess is that 80%(Probably higher) of the members on this site don’t have a household income of $250K a year.


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I’m with you on this. Let’s say they net 15k a month, that’s is still a great sum of money monthly. The problem is everyone that makes 250k a year thinks they have to live in a 500-700k home and drive 80k cars and trucks.

They are living beyond their means or just have no idea how to budget.


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[tps7742]

Just wait until those folks up north get to pay for a load of heating oil.

There will be a lot of homes with very little heat with these prices in that part of the country.
And remember. When heating oil production starts going up the price of diesel and jet fuel increases due to their production going down.

Gonna be cold in Yankee country.

You have been in the refining business so long you probably pee black oil.

[Greenheadless]

This thread is very telling of today’s society……..

[bphillips]

I’m with you on this. Let’s say they net 15k a month, that’s is still a great sum of money monthly. The problem is everyone that makes 250k a year thinks they have to live in a 500-700k home and drive 80k cars and trucks.

They are living beyond their means or just have no idea how to budget.


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The problem with those new to that money though is housing cost (and everything else). Developers do not build the small starter homes much anymore so there just isn’t cheaper ones to buy often. We built 8 years ago and could sell for almost double what we have in ours. Easily done with 250k then but would have to struggle for the same today. Wages have not gone up much at all in that time. Any of us who are established can agree it’s a lot of money but for those who are not it really won’t go as far for them

[bphillips]

$250,000 a year is almost a gross of $21,000 a month. If you can’t but a house and establish a family on that right now then you’re doing it wrong. My guess is that 80%(Probably higher) of the members on this site don’t have a household income of $250K a year.


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80% probably aren’t first time buyers either like those I’m referencing. To those established it should still be a lot. I promise I know how far that will go yesterday and today. It’s changed A LOT

It’s honestly kinda depressing to know what new families looking for their first home are looking at who make 100k/year. That money should go a lot farther than it is

[MBV77]

Understand what you’re saying, but let’s take 20% of that for 401k, then take taxes from that amount (higher tax bracket, too), then take insurance….the net amount is much less lucrative than you originally think.

I know exactly how lucrative it is. You are arguing that $250K a year is hard to live on. It’s very easy to live on with a family of 5 and save a lot of money.


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[PondPopper]

I’m with you on this. Let’s say they net 15k a month, that’s is still a great sum of money monthly. The problem is everyone that makes 250k a year thinks they have to live in a 500-700k home and drive 80k cars and trucks.

They are living beyond their means or just have no idea how to budget.


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BINGO and then when there is the slightest blip on the radar screen such as a simple property tax increase, which will never be avoided, its game over and FOR SALE signs go up... I can honestly see why divorce rates are so high these days... Financial stress is a marriage killer..
People are fighting over homes the day they hit the market down here and some are paying WAAAY over asking price and actual appraisal values, even though they are advised that is not a wise business move.. Its absolutely insane. When the correction happens, and it will, many will be upside down... THEY DO NOT CARE..

[DedDuk]

If a household has a 250k income and are struggling, then that household has a lot of stupid it in. I dont care if its old money or new money.