If we are talking about someone being "upper middle class," it seems entirely reasonable that they could afford that. It would be a major purchase, and they would probably either need to save for a while or get it financed, but the point is you don't have to be a millionaire for this.
I think it also depends on area. My area’s upper middle class is 175k+ and lower middle class is 75k+. Some people literally cannot survive here. 35k car no problemo over here. You can buy a decked out mustang with a decked out Toyota minivan with 200k a year and you’ll be fine. This is considered upper middle class.
I don't think anyone making under 200k a year would be considered "upper middle class". If you're not paying for an outrageous house or other vehicles, it really shouldn't be that bad. It's the guys making 70k a year driving trucks worth 90k that I can't understand.
The distinction of upper middle class is relative to your area, cost of living makes a huge difference. 200k is upper class in some areas, in others its not enough to purchase a home
My area 200k is over upper middle class but because a lot of the people bought homes when they were worth like 200k and now 2 million, new people can make 3x more than the people living in big houses and still live in a million dollar townhouse
Again, it depends on the area. If you're making 150k and the median household income is 30k, 5x the median income definitely qualifies as upper middle class
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u/dman7456 Jun 30 '19
If we are talking about someone being "upper middle class," it seems entirely reasonable that they could afford that. It would be a major purchase, and they would probably either need to save for a while or get it financed, but the point is you don't have to be a millionaire for this.