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Strategies & Market Trends : SiliconInvestor All Stars Forum
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To: John Vosilla who wrote (1612)3/19/2008 6:41:41 AM
From: SouthFloridaGuyRead Replies (1) of 1718
 
My friends are generally well to do and are involved in global industries. The last few years have been good to them. Not great like the 90's, but good.

God has been good to me and my family as well. I can't complain. I've been in tough spots, especially in the last recession, but I got smart from it. Life has to kick you in the ass at least once, I guess.

I have only 1 friend who I would consider middle class. She was my former assistant. She and her husband both work, combined income of $100-110k (that is middle class in NYC), 3 kids. Both very generous people.

I guess they are 'surviving'. Right now they are probably scrambling to get the kids ready while I write to you before I head off to my Equinox gym.

They have HELOC, a small amount of credit card debt, etc. I don't think it's unmanageable. They lucked out by buying their house for 250k in 2002 - with 12k down - probably worth at least 500k today. I suspect the HELOC is around 100k. Things are getting tighter for them. They are the only people I can use as a reference point as how the average family is currently coping.

The noose is getting tighter. Life still goes on, but it's not as fun as it used to be for most, I suspect.
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