I was so excited when I got a big raise (10%), thinking it would change things. Then inflation happened and I'm back to watching my finances.

I don't think that $75k was to live comfortably, I think the $75k was to feel happy about your income.

Ninja edit: found it:

...Daniel Kahneman, who in 2010 published an influential study with fellow Nobel Prize-winner Angus Deaton. The 2010 study found that money could only boost happiness up to a point — about $75,000 in annual earnings. Beyond that figure, the researchers concluded, money had little impact.

but...

Now, new research from a Nobel Prize-winning economist and fellow researchers provides a fresh answer. Money does appear to boost happiness — at least for most people — up to earnings of $500,000, according to the new paper published in this month in the Proceedings of the National Academy of Sciences journal.

https://www.cbsnews.com/news/money-happiness-study-daniel-kahneman-500000-versus-75000/

Housing prices have gone insane

Here's my experience. I make $180,000/yr. Family of five. Wife stays home and has a consulting gig she does when she wants to. We live in Northwest Arkansas. Far from the most expensive place in the country but experiencing massive growth and becoming increasingly expensive. Our only debt is our mortgage and a loan on our minivan. We own our other vehicle outright.

We live reasonably comfortably. Definitely not extravagant. We're also tightwads and I stay in top of our finances. We paid $345k for a fixer-upper home. Average home price in our area for similar homes is probably closer to $450k. It's liveable but ultimately needs a full remodel. I figure it will take about 5 years doing most of it myself. If I had to pay contractors to do all of it, it would not be feasible. Most of them are so busy they don't even give you the time of day anyways.

Material costs are insane. I mean absolutely bonkers. I would guess I'm spending double what I did for the same materials I used for my last remodel project on our previous house, four years ago. The five year plan is partly because we can't afford to go any faster.

If I made $100k/yr, we would never have bought a house. Wouldn't have even been able to save enough for the down payment. I also seriously doubt we would have had our last two kids.

Don't get me wrong, I'm not complaining. I'm pretty fortunate. I have things I worry about but money isn't one of them. I know where my next paycheck is coming from and if it doesn't come, we have enough money in the bank to get by for a while.

The same cannot be said for the vast majority of Americans, even ones making $100k/yr, which is not nearly as good a salary as it used to be.

cries in Los Angeles

I've come to the conclusion that a good chunk of Lemmy users either live in Seattle, or have no actual concept of money.

More likely that most of the people making 6 figures are living in moderate to high cost of living areas plus the inherent draw of tech-minded people on a platform such as this.

Where most people live. That's how averages work.

I live in an extremely rural part of the US on about $65k/yr. It's absolutely not enough. I moved here specifically so I wouldn't need roommates to pay my bills, but I'm looking at that after only two years into my mortgage anyway.

or have no actual concept of money

Right here.

Nailed it

I agree, but a significant portion (maybe even most) of our country's population do live in very high cost of living areas such as the west cost, DC, Boston, and Miami.

The situation is vastly different in most of the country's less remarkable cities, like San Antonio, Minneapolis, Oklahoma City, Pittsburgh, St. Louis, or Nashville, and I think articles like this only ever account for one side of the equation or the other.

To someone living in DFW (my home), "needing" almost $200k is insane. Honestly I doubt I'd know what to do with that money unless I just bought a bunch if shit I don't want.