what is your definition of 'a poor'

[WalterMitty]

discuss.

[Speed of Sound]

hhhmmm...wow. not only is this really hard to decide, its also almost impossible to give a true opinion without offending someone. I'll abstain.

[Jake]

A worker

[Virginian87]

This is tough to define.  Statisically isn't it anyone living below the poverty line as defined by the Census Bureau?

[Cashcow]

< $300,000/yr

[Virginian87]

< $300,000/yr

That's what the Republican Party would like to think.

Sorry to sound partisan, but that joke was too good to pass up.

[MaC]

'a poor'--see "opebo"

[KillerPollo]

'a poor'--see "opebo"

or BRTD

[Josh/Devilman88]

Poor, you can't pay your bills.

[Jake]

Are people in debt poor?

[JohnFKennedy]

Poor, you can't pay your bills.

OT

Josh, do you take French? There are several mistakes in your signature.

[WalterMitty]

Are people in debt poor?

it depends.

what kind of debt and how much.

[Josh/Devilman88]

Poor, you can't pay your bills.

OT

Josh, do you take French? There are several mistakes in your signature.

yes probly is

[TheresNoMoney]

A poor is a person with a low-income job (or no job) who struggles to pay basic neccessities like rent, food, and clothing.

[Gabu]

A poor is... someone without much money.

An exact quantitative definition is pretty much entirely arbitrary; how much money one needs to have to not be poor anymore would probably depend on the combination of your own amount of wealth and your own perception of how poor you are.

I think there's one thing we can all agree is not inherent in being poor, and that's the action of doing work.  Very poor people can do little work and very rich people can do a lot of work.  I have no idea where the heck opebo came up with that one.

[Jake]

Are people in debt poor?

it depends.

what kind of debt and how much.

I'm talking the average middle class family that buys to much on their credit card. They certainly are not poor.

[Colin]

A poor is whoever opebo thinks is not part of the "rich".

[Protect Trans Hoosiers]

Anyone unable to purchase a home in his/her housing market.  Either you are "landed" or you are a "peasant."  Those who can't afford a home are the modern peasant.  That to me is what it means to be poor.

[WalterMitty]

Anyone unable to purchase a home in his/her housing market.  Either you are "landed" or you are a "peasant."  Those who can't afford a home are the modern peasant.  That to me is what it means to be poor.

there for a minute i thought opebo wrote that.

[Protect Trans Hoosiers]

Anyone unable to purchase a home in his/her housing market.  Either you are "landed" or you are a "peasant."  Those who can't afford a home are the modern peasant.  That to me is what it means to be poor.

there for a minute i thought opebo wrote that.

That's low.

[dazzleman]

Anyone unable to purchase a home in his/her housing market.  Either you are "landed" or you are a "peasant."  Those who can't afford a home are the modern peasant.  That to me is what it means to be poor.

That's a somewhat reasonable definition, though I think it should be qualified by saying it's a mature adult who has been working for a few years.  Many young people can't afford to buy a house because they're just starting out and haven't been able to save any money yet.

Of course, there's the real definition of poor, and the obebo definition of "a poor."  In the opebo world, a poor is basically anybody who has to work, but doesn't own the company.

[Protect Trans Hoosiers]

Anyone unable to purchase a home in his/her housing market.  Either you are "landed" or you are a "peasant."  Those who can't afford a home are the modern peasant.  That to me is what it means to be poor.

That's a somewhat reasonable definition, though I think it should be qualified by saying it's a mature adult who has been working for a few years.  Many young people can't afford to buy a house because they're just starting out and haven't been able to save any money yet.

Yeah, it needs a lot of qualifiers, but it's basically a good metric.  If you are older than 30, have a family, have been steadily working, managing your money properly, but you still can't afford to buy a home, you are poor.

Also home ownership is the #1 key to building wealth.

Er... at least until the housing bubble goes *pop*.

[dazzleman]

Anyone unable to purchase a home in his/her housing market.  Either you are "landed" or you are a "peasant."  Those who can't afford a home are the modern peasant.  That to me is what it means to be poor.

That's a somewhat reasonable definition, though I think it should be qualified by saying it's a mature adult who has been working for a few years.  Many young people can't afford to buy a house because they're just starting out and haven't been able to save any money yet.

Yeah, it needs a lot of qualifiers, but it's basically a good metric.  If you are older than 30, have a family, have been steadily working, managing your money properly, but you still can't afford to buy a home, you are poor.

Also home ownership is the #1 key to building wealth.

Er... at least until the housing bubble goes *pop*.

I think that even if the bubble goes pop, it will come back, and the drop won't be that severe.  It's not like the internet bubble, where the companies simply went away and weren't missed.  Everybody needs a place to live.

I think that people who permanently are unable to buy a house will generally have a very hard time building wealth.  A house is a great hedge against inflation.  When you rent, you can basically expect your rent to increase every year, and you are always at the mercy of market conditions, unless you live in a rent-controlled apartment.

With a house, you freeze a good chunk of your living costs, since your house payment doesn't go up except for the real estate tax component, unless you have an adjustable rate mortgage.  Over the long run, housing will appreciate even if there is a bubble right now, and you can build equity.

Also, one day, your house will be paid off, and you'll live there without a house payment.  That will never happen if you rent.

[TheresNoMoney]

Also home ownership is the #1 key to building wealth.

Buying assets in general (stocks, real estate, businesses) is the key to building wealth.

[Protect Trans Hoosiers]

Also home ownership is the #1 key to building wealth.

Buying assets in general (stocks, real estate, businesses) is the key to building wealth.

Real estate out-performs them all, and you can't live in your share of Microsoft .