02.15.2009

How are people so rich?

French Mortgage


I was just wondering how are people so loaded and rich?! I know this is a VERY complex issue such as inheritance, investments, and other various issues but it just blows my mind. I have just graduated from college and come from a middle class background and I make somewhere between 65-75k a year but everywhere I look there are people that make my salary look like a third world child laborer wage. For example there was a condominium complex being built next to my work and the value of each condo was anywhere between 2.5 million and 10 million dollar and there were about 75 unit available. Pardon my french but who in the hell in their right mind could afford one of those?! I know you can get a 30 year mortgage but even then you’d have to make A LOT of money to be able to afford one of those. These condos sold like hot cakes and people coming in and out of the parking garage are driving Ferrari’s, Lamborghini’s, Aston Martin’s so obviously they must be making amazing amount of money to able to have a 5 million dollar mortgage and to afford a $280,000 Ferrari. A lot of people say that they are business owners which is probably true but I know LOADS of business owners who don’t make much more than me and even the owner of my IT company which is relatively small could not afford one of those condos.

If hypothetically I was promoted to the Director of IT operations (which would take me at least another 5 years) I’d be lucky to make $125,000-150,000 and even that is probably not enough to afford one of those condominiums. So how in the hell do people have all this money??

Sony Ericsson

How are people so rich?