What’s your family income?

[KIBU]

Gee, no body even laughed at my joke. Maybe they even believed that I had 3 wives for real or more likely nobody cares.

Anyway, I need to clarify for my own sake since I am going to post more posts here to ask you a lot more questions…. Here is my real me: I have only 1 wife, I am 30 years old. I also calculated that until I am 65 years old, all we could afford is complete payment of a house (hasn’t bought yet).

[Anonymous]

Me = $335K, girlfriend = $65K. Rent a 1BR/1BA in Del Mar for $1550. Moved here from LA last year. Don’t want to but into a falling market. Colleagues think I’m a weirdo because I’m a loser RENTER. They all need to get over the whole home “ownership” thing. The only people I know who acually “own” their home are my retired parents, who taught me that the best path to happiness and security is to work hard and ALWAYS live well BELOW your means.

[Anonymous]

Me = $335K, girlfriend = $65K. Rent a 1BR/1BA in Del Mar for $1550. Moved here from LA last year. Don’t want to but into a falling market. Colleagues think I’m a weirdo because I’m a loser RENTER. They all need to get over the whole home “ownership” thing. The only people I know who acually “own” their home are my retired parents, who taught me that the best path to happiness and security is to work hard and ALWAYS live well BELOW your means.

[Carlmichael]

22 Single
Former Marine
full time student
transfering to UC Berkeley next year
30k self employed

[Carlmichael]

22 Single
Former Marine
full time student
transfering to UC Berkeley next year
30k self employed

[SD Transplant]

31 (almost 32) married recently
Just got my MBA
60K base + 15k(school reimbursment benefits/year)
wife 30 w/ part time work & working on her accounting degree here (converting some unitfrom EU & learning the GAAP rules here)
30K /year
90K total/year family income

I have a contract with my organization until January 2008 because they’ve paid 80% of my MBA,so it was one of the main reasons I’ve been working there. After January 2008, I’m ready to move on. Company offered me better jobs in Los Angels, Sterling, VA, CT..etc (I’ve turned them down for the time being….I’ve got my parents and brother in San Diego…..and I’m not ready to relocate for just a few more $$$)

[SD Transplant]

31 (almost 32) married recently
Just got my MBA
60K base + 15k(school reimbursment benefits/year)
wife 30 w/ part time work & working on her accounting degree here (converting some unitfrom EU & learning the GAAP rules here)
30K /year
90K total/year family income

I have a contract with my organization until January 2008 because they’ve paid 80% of my MBA,so it was one of the main reasons I’ve been working there. After January 2008, I’m ready to move on. Company offered me better jobs in Los Angels, Sterling, VA, CT..etc (I’ve turned them down for the time being….I’ve got my parents and brother in San Diego…..and I’m not ready to relocate for just a few more $$$)

[cyphire]

I’m an owner of a turnkey software company. We employ over 150 people almost all of whom have college degrees except for yours truly (and one of my other partners). My partner and I started the company in the mid-80’s. The company is not located in CA. So i’m up there in compensation with a bunch of multiples – but I’m not one of those people who make insane money. i.e. I could not buy a nice house on the water.

[cyphire]

I’m an owner of a turnkey software company. We employ over 150 people almost all of whom have college degrees except for yours truly (and one of my other partners). My partner and I started the company in the mid-80’s. The company is not located in CA. So i’m up there in compensation with a bunch of multiples – but I’m not one of those people who make insane money. i.e. I could not buy a nice house on the water.

[what_a_disasta]

32, married, no kids. We do not need to work anymore as our investment dividends yield more than enough to live off.

[what_a_disasta]

32, married, no kids. We do not need to work anymore as our investment dividends yield more than enough to live off.

[patientrenter]

When I first saw this topic, I thought it was asking for information that was too private to share, especially if I ever meet others in person through Piggington. But I am benefiting from seeing how others came to the prevailing real estate outlook here on Piggington from very different ages, living situations, and income and asset amounts, so I’ll contribute mine.

I’m 46, and live in a $1425 2+1+garage Orange County rental apartment on my own with no family obligations, and make $250-500K per year, mostly from a traditional full-time job. I limit my spending to equity investment income, currently about $45-50K after tax, and intend to buy ultimately using cash.

I was tempted to buy in 1996, but the places I could afford for cash were unpleasant, so I (foolishly, as it turned out) didn’t buy then. I didn’t invest much in equities either until very recently, so my housing budget now is very limited. Eventually, I will either move out of state (even though I love it here) or buy when my cash savings exceeds the price of a 2+1+garage condo or better here in Southern CA. That’ll be at least a year from now, and more likely 2-4 years down the road. I’m just trying to lock in my cost of living, so I may buy pretty quickly after the crossover occurs, unless the neighborhood I’m targeting is dropping really badly.

Patient renter in OC

[patientrenter]

When I first saw this topic, I thought it was asking for information that was too private to share, especially if I ever meet others in person through Piggington. But I am benefiting from seeing how others came to the prevailing real estate outlook here on Piggington from very different ages, living situations, and income and asset amounts, so I’ll contribute mine.

I’m 46, and live in a $1425 2+1+garage Orange County rental apartment on my own with no family obligations, and make $250-500K per year, mostly from a traditional full-time job. I limit my spending to equity investment income, currently about $45-50K after tax, and intend to buy ultimately using cash.

I was tempted to buy in 1996, but the places I could afford for cash were unpleasant, so I (foolishly, as it turned out) didn’t buy then. I didn’t invest much in equities either until very recently, so my housing budget now is very limited. Eventually, I will either move out of state (even though I love it here) or buy when my cash savings exceeds the price of a 2+1+garage condo or better here in Southern CA. That’ll be at least a year from now, and more likely 2-4 years down the road. I’m just trying to lock in my cost of living, so I may buy pretty quickly after the crossover occurs, unless the neighborhood I’m targeting is dropping really badly.

Patient renter in OC

[bubble_contagion]

It seems that there is plenty of people with high incomes and large savings waiting on the sidelines. Some will wait for a 5%-10% drop to get in, driving prices up again. This is what is happening now. It seems, without an additional catalist like massive job losses, real prices will stay were they are. Nominal prices will erode with inflation at a snail pace. The US economy may have achieved the dreaded soft-landing.

BTW, mid-30s, married, no kids, $150K/yr, no debt and enough savings for a 20% down even at today’s prices.

[bubble_contagion]

It seems that there is plenty of people with high incomes and large savings waiting on the sidelines. Some will wait for a 5%-10% drop to get in, driving prices up again. This is what is happening now. It seems, without an additional catalist like massive job losses, real prices will stay were they are. Nominal prices will erode with inflation at a snail pace. The US economy may have achieved the dreaded soft-landing.

BTW, mid-30s, married, no kids, $150K/yr, no debt and enough savings for a 20% down even at today’s prices.

[Author]

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