Poor six-figure family

[NotCranky]

“Anyway, still don’t understand why they have a financial advisor that advises them into hole after hole. ”

A union tribune pet no less.

Speaking of holes..my inlaw’s financial advisor had to send out a flyer to his clients asking to borrow money to drill a new well. I don’t bring it up during the holidays or any other time. Doesn’t mean they are all bad… no offense to financial advisors. I do wonder why people don’t just ask for good information from smart friends?

[Artifact]

That is tough in San Diego – I rent a small 2 bedroom apartment and that alone puts me above the 1/5th line – I choose to live in Encinitas, but my rent is only 1500 – so I would have to net 7500/month or 90K/year to meet that requirement – I hopefully will get to that point in another year or two, but I am not there yet.

Yes, I could live in a less expensive area of San Diego, but I work in Encinitas, so the cost of driving/commuting would increase to move and the rent would not be thast much lower. I looked around the last time my lease was up and there was just not anything really worth moving for that would save any money over what we have.

I am married with children, so we do need at least 2 bedrooms, and as someone pointed out earlier, young children cost a lot – my wife stays home with them. My point is not to complain, we choose to live in a smaller place in a nicer area so we can save some money and try to get ahead. It was also important to us for my wife to stop working and stay home with our children until they go to school. It makes things tighter financially, but it was important to us, so we have put ourselves in a position to make that happen while still remaining financially responsible.

I mostly just wanted to point out that to meet the 1/5th of your net income to housing is tough in San Diego for anyone not making over 100K per year – and since the median household income in San Diego is around 70K – that means a lot of people here are pretty much out of luck. Of course anyone who bought prior to 2000 or so has no problem with this assuming they have not refinanced…

[Artifact]

That is tough in San Diego – I rent a small 2 bedroom apartment and that alone puts me above the 1/5th line – I choose to live in Encinitas, but my rent is only 1500 – so I would have to net 7500/month or 90K/year to meet that requirement – I hopefully will get to that point in another year or two, but I am not there yet.

Yes, I could live in a less expensive area of San Diego, but I work in Encinitas, so the cost of driving/commuting would increase to move and the rent would not be thast much lower. I looked around the last time my lease was up and there was just not anything really worth moving for that would save any money over what we have.

I am married with children, so we do need at least 2 bedrooms, and as someone pointed out earlier, young children cost a lot – my wife stays home with them. My point is not to complain, we choose to live in a smaller place in a nicer area so we can save some money and try to get ahead. It was also important to us for my wife to stop working and stay home with our children until they go to school. It makes things tighter financially, but it was important to us, so we have put ourselves in a position to make that happen while still remaining financially responsible.

I mostly just wanted to point out that to meet the 1/5th of your net income to housing is tough in San Diego for anyone not making over 100K per year – and since the median household income in San Diego is around 70K – that means a lot of people here are pretty much out of luck. Of course anyone who bought prior to 2000 or so has no problem with this assuming they have not refinanced…

[Artifact]

That is tough in San Diego – I rent a small 2 bedroom apartment and that alone puts me above the 1/5th line – I choose to live in Encinitas, but my rent is only 1500 – so I would have to net 7500/month or 90K/year to meet that requirement – I hopefully will get to that point in another year or two, but I am not there yet.

Yes, I could live in a less expensive area of San Diego, but I work in Encinitas, so the cost of driving/commuting would increase to move and the rent would not be thast much lower. I looked around the last time my lease was up and there was just not anything really worth moving for that would save any money over what we have.

I am married with children, so we do need at least 2 bedrooms, and as someone pointed out earlier, young children cost a lot – my wife stays home with them. My point is not to complain, we choose to live in a smaller place in a nicer area so we can save some money and try to get ahead. It was also important to us for my wife to stop working and stay home with our children until they go to school. It makes things tighter financially, but it was important to us, so we have put ourselves in a position to make that happen while still remaining financially responsible.

I mostly just wanted to point out that to meet the 1/5th of your net income to housing is tough in San Diego for anyone not making over 100K per year – and since the median household income in San Diego is around 70K – that means a lot of people here are pretty much out of luck. Of course anyone who bought prior to 2000 or so has no problem with this assuming they have not refinanced…

[Artifact]

That is tough in San Diego – I rent a small 2 bedroom apartment and that alone puts me above the 1/5th line – I choose to live in Encinitas, but my rent is only 1500 – so I would have to net 7500/month or 90K/year to meet that requirement – I hopefully will get to that point in another year or two, but I am not there yet.

Yes, I could live in a less expensive area of San Diego, but I work in Encinitas, so the cost of driving/commuting would increase to move and the rent would not be thast much lower. I looked around the last time my lease was up and there was just not anything really worth moving for that would save any money over what we have.

I am married with children, so we do need at least 2 bedrooms, and as someone pointed out earlier, young children cost a lot – my wife stays home with them. My point is not to complain, we choose to live in a smaller place in a nicer area so we can save some money and try to get ahead. It was also important to us for my wife to stop working and stay home with our children until they go to school. It makes things tighter financially, but it was important to us, so we have put ourselves in a position to make that happen while still remaining financially responsible.

I mostly just wanted to point out that to meet the 1/5th of your net income to housing is tough in San Diego for anyone not making over 100K per year – and since the median household income in San Diego is around 70K – that means a lot of people here are pretty much out of luck. Of course anyone who bought prior to 2000 or so has no problem with this assuming they have not refinanced…

[Artifact]

That is tough in San Diego – I rent a small 2 bedroom apartment and that alone puts me above the 1/5th line – I choose to live in Encinitas, but my rent is only 1500 – so I would have to net 7500/month or 90K/year to meet that requirement – I hopefully will get to that point in another year or two, but I am not there yet.

Yes, I could live in a less expensive area of San Diego, but I work in Encinitas, so the cost of driving/commuting would increase to move and the rent would not be thast much lower. I looked around the last time my lease was up and there was just not anything really worth moving for that would save any money over what we have.

I am married with children, so we do need at least 2 bedrooms, and as someone pointed out earlier, young children cost a lot – my wife stays home with them. My point is not to complain, we choose to live in a smaller place in a nicer area so we can save some money and try to get ahead. It was also important to us for my wife to stop working and stay home with our children until they go to school. It makes things tighter financially, but it was important to us, so we have put ourselves in a position to make that happen while still remaining financially responsible.

I mostly just wanted to point out that to meet the 1/5th of your net income to housing is tough in San Diego for anyone not making over 100K per year – and since the median household income in San Diego is around 70K – that means a lot of people here are pretty much out of luck. Of course anyone who bought prior to 2000 or so has no problem with this assuming they have not refinanced…

[seattle-relo]

I feel bad for these people, not sorry, just bad that things are just going to get worse for them, and that they can’t see that yet. I think they should have just let their house foreclose, in the long run they’d just be better off. If they had nonrecourse loans (which I think they had) they wouldn’t be 1099 taxed, all they would have was bad credit -not the end of the world. Now with the changes that Countrywide made, they will be in more trouble because then they will be taxed and possibly sued when the eventually end up in foreclosure sometime down the road. Wow, I wonder how much they paid for that guy to give them awful advice?

I have some good friends in Texas who are the poster children for hyperconsumption, and they just never get it, and I think they never will. One day I suggested the book The Millionaire Next Door, and they just laughed at me. “What, save money? Don’t spend half your income on housing! Ha! That’s crazy!” They were in such a great position when they moved, they could have bought a very nice house for cash, but no…they bought a McMansion, and put in a 100K outdoor kitchen and pool. They have already taken out a second to pay off credit cards (which they ended up not paying them, and spending it on other things). They are hurting, but haven’t learned their lesson.

It seems that people need to hit bottom, and really experience the consequences of their decisions to finally have the courage to make changes. They are in denial, just like an addict, and need help to see through the mess they’ve gotten themselves into. Unfortunately the help they seek out (bad financial planners, loan officers to refi, etc), continues to enable them…It’s like a counselor at a drug treatment center giving a heroin addict cocaine…makes no sense.

[seattle-relo]

I feel bad for these people, not sorry, just bad that things are just going to get worse for them, and that they can’t see that yet. I think they should have just let their house foreclose, in the long run they’d just be better off. If they had nonrecourse loans (which I think they had) they wouldn’t be 1099 taxed, all they would have was bad credit -not the end of the world. Now with the changes that Countrywide made, they will be in more trouble because then they will be taxed and possibly sued when the eventually end up in foreclosure sometime down the road. Wow, I wonder how much they paid for that guy to give them awful advice?

I have some good friends in Texas who are the poster children for hyperconsumption, and they just never get it, and I think they never will. One day I suggested the book The Millionaire Next Door, and they just laughed at me. “What, save money? Don’t spend half your income on housing! Ha! That’s crazy!” They were in such a great position when they moved, they could have bought a very nice house for cash, but no…they bought a McMansion, and put in a 100K outdoor kitchen and pool. They have already taken out a second to pay off credit cards (which they ended up not paying them, and spending it on other things). They are hurting, but haven’t learned their lesson.

It seems that people need to hit bottom, and really experience the consequences of their decisions to finally have the courage to make changes. They are in denial, just like an addict, and need help to see through the mess they’ve gotten themselves into. Unfortunately the help they seek out (bad financial planners, loan officers to refi, etc), continues to enable them…It’s like a counselor at a drug treatment center giving a heroin addict cocaine…makes no sense.

[seattle-relo]

I feel bad for these people, not sorry, just bad that things are just going to get worse for them, and that they can’t see that yet. I think they should have just let their house foreclose, in the long run they’d just be better off. If they had nonrecourse loans (which I think they had) they wouldn’t be 1099 taxed, all they would have was bad credit -not the end of the world. Now with the changes that Countrywide made, they will be in more trouble because then they will be taxed and possibly sued when the eventually end up in foreclosure sometime down the road. Wow, I wonder how much they paid for that guy to give them awful advice?

I have some good friends in Texas who are the poster children for hyperconsumption, and they just never get it, and I think they never will. One day I suggested the book The Millionaire Next Door, and they just laughed at me. “What, save money? Don’t spend half your income on housing! Ha! That’s crazy!” They were in such a great position when they moved, they could have bought a very nice house for cash, but no…they bought a McMansion, and put in a 100K outdoor kitchen and pool. They have already taken out a second to pay off credit cards (which they ended up not paying them, and spending it on other things). They are hurting, but haven’t learned their lesson.

It seems that people need to hit bottom, and really experience the consequences of their decisions to finally have the courage to make changes. They are in denial, just like an addict, and need help to see through the mess they’ve gotten themselves into. Unfortunately the help they seek out (bad financial planners, loan officers to refi, etc), continues to enable them…It’s like a counselor at a drug treatment center giving a heroin addict cocaine…makes no sense.

[seattle-relo]

I feel bad for these people, not sorry, just bad that things are just going to get worse for them, and that they can’t see that yet. I think they should have just let their house foreclose, in the long run they’d just be better off. If they had nonrecourse loans (which I think they had) they wouldn’t be 1099 taxed, all they would have was bad credit -not the end of the world. Now with the changes that Countrywide made, they will be in more trouble because then they will be taxed and possibly sued when the eventually end up in foreclosure sometime down the road. Wow, I wonder how much they paid for that guy to give them awful advice?

I have some good friends in Texas who are the poster children for hyperconsumption, and they just never get it, and I think they never will. One day I suggested the book The Millionaire Next Door, and they just laughed at me. “What, save money? Don’t spend half your income on housing! Ha! That’s crazy!” They were in such a great position when they moved, they could have bought a very nice house for cash, but no…they bought a McMansion, and put in a 100K outdoor kitchen and pool. They have already taken out a second to pay off credit cards (which they ended up not paying them, and spending it on other things). They are hurting, but haven’t learned their lesson.

It seems that people need to hit bottom, and really experience the consequences of their decisions to finally have the courage to make changes. They are in denial, just like an addict, and need help to see through the mess they’ve gotten themselves into. Unfortunately the help they seek out (bad financial planners, loan officers to refi, etc), continues to enable them…It’s like a counselor at a drug treatment center giving a heroin addict cocaine…makes no sense.

[seattle-relo]

I feel bad for these people, not sorry, just bad that things are just going to get worse for them, and that they can’t see that yet. I think they should have just let their house foreclose, in the long run they’d just be better off. If they had nonrecourse loans (which I think they had) they wouldn’t be 1099 taxed, all they would have was bad credit -not the end of the world. Now with the changes that Countrywide made, they will be in more trouble because then they will be taxed and possibly sued when the eventually end up in foreclosure sometime down the road. Wow, I wonder how much they paid for that guy to give them awful advice?

I have some good friends in Texas who are the poster children for hyperconsumption, and they just never get it, and I think they never will. One day I suggested the book The Millionaire Next Door, and they just laughed at me. “What, save money? Don’t spend half your income on housing! Ha! That’s crazy!” They were in such a great position when they moved, they could have bought a very nice house for cash, but no…they bought a McMansion, and put in a 100K outdoor kitchen and pool. They have already taken out a second to pay off credit cards (which they ended up not paying them, and spending it on other things). They are hurting, but haven’t learned their lesson.

It seems that people need to hit bottom, and really experience the consequences of their decisions to finally have the courage to make changes. They are in denial, just like an addict, and need help to see through the mess they’ve gotten themselves into. Unfortunately the help they seek out (bad financial planners, loan officers to refi, etc), continues to enable them…It’s like a counselor at a drug treatment center giving a heroin addict cocaine…makes no sense.

[mixxalot]

These folks are idiots!!! Pure and simple and shows how dumb even engineers and computer people can be. I would love a new house and car but not until I had no debt and savings would I even consider it.

[mixxalot]

These folks are idiots!!! Pure and simple and shows how dumb even engineers and computer people can be. I would love a new house and car but not until I had no debt and savings would I even consider it.

[mixxalot]

These folks are idiots!!! Pure and simple and shows how dumb even engineers and computer people can be. I would love a new house and car but not until I had no debt and savings would I even consider it.

[mixxalot]

These folks are idiots!!! Pure and simple and shows how dumb even engineers and computer people can be. I would love a new house and car but not until I had no debt and savings would I even consider it.

[Author]

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