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I beg to differ, you don't need $50k a year. You probably already have a car, and you don't need a new one right away? so all you would be paying for it most likely is insurance. And if you did buy a car, you have the option of leasing it. Monthly payments are not that bad. You don't need a house right away, live in an apartment a couple of years. save your money and invest, then you can buy your house. you will have plenty of money to buy food also. So I don't think $50k a year is the minimum you would need to make.
Take a quick moment and notice where his location is. Santa Cruz, CA. $30k plenty? Hardly. Poor guy probably eats mac 'n cheese a lot.
I live just one state over where the taxes are much lower but real estate is rapidly climbing to that of CA. I'm 25, my base pay is 28K but have never made less than 37K at this job due to overtime, profit sharing, etc... That's a pretty good wage for this area, but there's still no way I can afford to buy a house. The average rent for apartments is around $600 a month, however the average house payment on a very good interest rate is about $1200 a month. Possible with a second income? Of course. But I don't have that luxury.
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Also, you can take a loan from the bank.
I'm a bit puzzled by this comment. Yes, you will be taking out a loan from the bank to purchase a house. If you could buy a house outright, there wouldn't even be a discussion here.....
Anyway, back to the topic. At first glance, having the local government step in just because you're not going to school seems ridiculous and I'm sure I felt that way when I was 16. Fast forward 9 years later and I realize that they have a vested interest in keeping kids in school. Non-educated, non-diploma'd 18 year olds have a few options:
1. Low paying job(you will most likely not be buying any real estate)
2. Welfare, disability, unemployment...etc
3. Crime
4. Realize you need to go back and get some education
Let's take a look at these individually:
1. Nothing necessarily wrong with this one, but I bet the city would love to see people paying property taxes on a home instead of having millions of apartment complexes soaking up all that money.
2. These are out of control as it is, although welfare reform has fixed most of the "career welfare moms", disability is easy to get if you know how to do it and can live better off than I can in my current job. Huge money sinks for the state(some have it under control better than others of course).
3. Crime is not only costly to the police, don't forget the courts, rehab programs, probation departments, and possibly insurance companies. Let's not leave out the victimes here as well....
4. This is where they should be ideally, only reason I threw it in.
So, I believe the law does need to get involved here. I like to keep government out of my life in most cases, but there are situations where I think more good comes out of it than bad. This is one of them.