If you think a 7ksqft 5-bedroom home with fences and security is within reach of the working class, you have no idea what working class is and/or how much a 7ksqft 5-bedroom home costs.
Buffet probably only needs the fence and security because of his success. If he were an average Joe of no notoriety, he could live there without the security.
If we go off the 4x income to debt ratio a poster above used, a household income of about $162K is needed to be able to afford Mr Buffett's home. That income places you in the 95th percentile of Nebraska household incomes.[1]
That's a pretty narrow slice to be even "upper" middle class.
Like everything, class follows power law. So 0 to 90% is lower class, 90% to 95% is middle class, 95% to 99% is upper middle class, and 99% to 100% is upper class.
Nah. The term is "middle class" where class is defined by the lifestyle/societal-position on a class ladder, not some statistic mean regarding income.
You can have societies with 90%+ population in low class or 50% population in middle class.
History buffs generally know more how it looks for a society to have various levels of classes. I wish we all looked at history more, especially myself if I only had the time to stop rat racing...
