The interesting part is. We’re only in round 2 of this economic meltdown too…..

Me thinks its gonna be kinda hard to qualify for those full doc, 20% down loans when one is unemployed.

Oh well, such is life…Not a big deal….

SDR, it seems like you’re doing the right thing. You have multiple streams of income….. I wish I had started this much earlier when the times were still good.

BTW: i still owe you an email, because I got a lot of questions… Sorry, I’ve been swamped, and I dont’ want to sound like a (complete) idiot and waste all your time on some loosely written set of questions. But, lately, my salary has been cut in half, considering all the additional responsibility I need to assume for all the work other people use to do, if you know what I mean.

The interesting part is. We’re only in round 2 of this economic meltdown too…..

Me thinks its gonna be kinda hard to qualify for those full doc, 20% down loans when one is unemployed.

Oh well, such is life…Not a big deal….

SDR, it seems like you’re doing the right thing. You have multiple streams of income….. I wish I had started this much earlier when the times were still good.

BTW: i still owe you an email, because I got a lot of questions… Sorry, I’ve been swamped, and I dont’ want to sound like a (complete) idiot and waste all your time on some loosely written set of questions. But, lately, my salary has been cut in half, considering all the additional responsibility I need to assume for all the work other people use to do, if you know what I mean.

[quote=SD Realtor]Recessions and depressions are really not that much fun no matter how much we all want housing to go down. [/quote]

For some time now, I have been concerned that economics of the country were far graver than what I had imagined. That is definitely now the case. There is the usual anecdotal evidence that can be tainted by ones desires but, there is also an ever increasing pool of evidence that points in that direction as well. The number of layoffs announced on a daily basis continues to rise, and it seems as corporate bankruptcy/restructuring seems to be making its way to MSM more regularly.

There are small group of people that I know that regularly question when I’ll get serious about purchasing a house. My reply has been for quite some time has been that I would not as long as such a purchase would mean neglecting other aspects of my life; saving, funding retirement, recreational activities, you know participating in life without living in debt. That response was always met with a look of perplexicity, disgust, or that “man this kid is an idiot” look. It’s all pretty much the same look so it can be very hard to tell which is being displayed.

Now that prices have fallen and the perceived affordability has increased, I still get the same question by a smaller group and I reply with the same answer. The looks now include what I described above with the addition of great concern, despair, and outright fear. I’ve had a few tell me that I’ve made a well thought out choice….A few! The remainder can be broken down into two groups, those with there heads buried in the sand and those that understand the problem but, don’t want to even mention it. As though speaking of the problem would make it worse.

I think the previous generation is starting to realize that they have squandered their futures along with our own. The talk of retirement seems to be increasingly the talk of delayed retirement.

The next decade is going to be a decade of tough choices. The pool of jobs is going to be far smaller than the bodies seeking them.

I do feel a sense of vindication. All that time questioning myself, “Am I doing something wrong”. Being the odd ball pointing out the flaws in the system and being ridiculed for it. Having to defend my right to live as debt free as possible.

I do believe that some of those caught up in the game are deserving of the results. I am unapologetic about that. However, there are a good many of us that are also caught in the trap that didn’t leverage themselves silly.

[quote=SD Realtor]Recessions and depressions are really not that much fun no matter how much we all want housing to go down. [/quote]

For some time now, I have been concerned that economics of the country were far graver than what I had imagined. That is definitely now the case. There is the usual anecdotal evidence that can be tainted by ones desires but, there is also an ever increasing pool of evidence that points in that direction as well. The number of layoffs announced on a daily basis continues to rise, and it seems as corporate bankruptcy/restructuring seems to be making its way to MSM more regularly.

There are small group of people that I know that regularly question when I’ll get serious about purchasing a house. My reply has been for quite some time has been that I would not as long as such a purchase would mean neglecting other aspects of my life; saving, funding retirement, recreational activities, you know participating in life without living in debt. That response was always met with a look of perplexicity, disgust, or that “man this kid is an idiot” look. It’s all pretty much the same look so it can be very hard to tell which is being displayed.

Now that prices have fallen and the perceived affordability has increased, I still get the same question by a smaller group and I reply with the same answer. The looks now include what I described above with the addition of great concern, despair, and outright fear. I’ve had a few tell me that I’ve made a well thought out choice….A few! The remainder can be broken down into two groups, those with there heads buried in the sand and those that understand the problem but, don’t want to even mention it. As though speaking of the problem would make it worse.

I think the previous generation is starting to realize that they have squandered their futures along with our own. The talk of retirement seems to be increasingly the talk of delayed retirement.

The next decade is going to be a decade of tough choices. The pool of jobs is going to be far smaller than the bodies seeking them.

I do feel a sense of vindication. All that time questioning myself, “Am I doing something wrong”. Being the odd ball pointing out the flaws in the system and being ridiculed for it. Having to defend my right to live as debt free as possible.

I do believe that some of those caught up in the game are deserving of the results. I am unapologetic about that. However, there are a good many of us that are also caught in the trap that didn’t leverage themselves silly.

[quote=SD Realtor]Recessions and depressions are really not that much fun no matter how much we all want housing to go down. [/quote]

For some time now, I have been concerned that economics of the country were far graver than what I had imagined. That is definitely now the case. There is the usual anecdotal evidence that can be tainted by ones desires but, there is also an ever increasing pool of evidence that points in that direction as well. The number of layoffs announced on a daily basis continues to rise, and it seems as corporate bankruptcy/restructuring seems to be making its way to MSM more regularly.

There are small group of people that I know that regularly question when I’ll get serious about purchasing a house. My reply has been for quite some time has been that I would not as long as such a purchase would mean neglecting other aspects of my life; saving, funding retirement, recreational activities, you know participating in life without living in debt. That response was always met with a look of perplexicity, disgust, or that “man this kid is an idiot” look. It’s all pretty much the same look so it can be very hard to tell which is being displayed.

Now that prices have fallen and the perceived affordability has increased, I still get the same question by a smaller group and I reply with the same answer. The looks now include what I described above with the addition of great concern, despair, and outright fear. I’ve had a few tell me that I’ve made a well thought out choice….A few! The remainder can be broken down into two groups, those with there heads buried in the sand and those that understand the problem but, don’t want to even mention it. As though speaking of the problem would make it worse.

I think the previous generation is starting to realize that they have squandered their futures along with our own. The talk of retirement seems to be increasingly the talk of delayed retirement.

The next decade is going to be a decade of tough choices. The pool of jobs is going to be far smaller than the bodies seeking them.

I do feel a sense of vindication. All that time questioning myself, “Am I doing something wrong”. Being the odd ball pointing out the flaws in the system and being ridiculed for it. Having to defend my right to live as debt free as possible.

I do believe that some of those caught up in the game are deserving of the results. I am unapologetic about that. However, there are a good many of us that are also caught in the trap that didn’t leverage themselves silly.

As this tide is going out, we’re finding out just about everyone was not wearing a bathing suit. If one is heavily in cash, the world is starting to look very cheap, but getting cheaper. This was the only historically accurate reaction to a huge and very unsustainable growth in debt. There’s no way we could have kept on the path we were on. So now, we begin the correction to sustainability, but with an over correction…as is usual. I’ve been saying this on this site for the last 8 months. While everyone was salivating about rent vs. own cost being equal and cost vs income ratios getting lower. I’ll say it one more time for those that did not seem to believe what I wrote was true. Unemployment will devistate CA real estate. It always has and will. We’re about to get a massive dose of unemployment that’s going to make everyone recalibrate their financial world.

As this tide is going out, we’re finding out just about everyone was not wearing a bathing suit. If one is heavily in cash, the world is starting to look very cheap, but getting cheaper. This was the only historically accurate reaction to a huge and very unsustainable growth in debt. There’s no way we could have kept on the path we were on. So now, we begin the correction to sustainability, but with an over correction…as is usual. I’ve been saying this on this site for the last 8 months. While everyone was salivating about rent vs. own cost being equal and cost vs income ratios getting lower. I’ll say it one more time for those that did not seem to believe what I wrote was true. Unemployment will devistate CA real estate. It always has and will. We’re about to get a massive dose of unemployment that’s going to make everyone recalibrate their financial world.