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contentrenter
ParticipantI’ve used a personal chef named Kyle Wesendorf before. Her website is http://www.briocooks.com and she’s amazing. She comes to your house with her equipment and cooks whatever you want. Not sure how she’d be as a teacher, but she definitely knows what she’s doing.
ParticipantI rent a 1300 sq ft loft in a cool old building downtown, for $1400/mo. Similarly sized units in the area are listed at between $500 and $600k — which would cost me well over double, even after the tax break.
ParticipantI don’t remember what Rich said — what’s the deal with clustering?
ParticipantI echo the point about wanting to stay informed. I sold in April ’05, I’m renting, and I’m trying to gather information. I’m hoping that when there is a good deal out there I’ll be able to recognize it.
As for the bloodbath that may or may not be brewing, the potential is terrifying to me. I had an opportunity to speak to the CEO of the county and asked if there was a Plan B if property taxes drop significantly, to pay for schools, mental health care, basic infrastructure, etc. He said, “No”, but he didn’t treat me like it was a crazy question, which is both comforting (he’s not stupid) and unsettling (he’s not stupid, but there’s no contingency plan). As previous posts point out, the government is a huge employer in San Diego, and many city/county/state services are stretched to the limit already. A budget decrease of any amount could have far reaching consequences. I’m not necessarily predicting lay-offs; my concern is what will happen to the already-poor, children, sick, and mentally ill during a bad economic downturn. And forget about luxuries like libraries and pools and working street lamps.
As a professional, I’ve watched fellow county employees who make half of what I make leverage themselves like you wouldn’t believe to buy that second or third condo. I’m afraid they are going to be completely wiped out. And my peer colleagues, who earn more money, are almost as bad: off the top of my head, I know four over 100k earners in my office who think their IO loans are a great deal, even though their rates are resetting soon and they’re not paying down any extra principle.
I HOPE I’m wrong. But for me, this whole thing is as compelling as a horror movie. I think I know what’s going to happen, and I don’t want to watch, but I can’t seem to turn away. It’s fascinating and terrifying at the same time.
ParticipantHey! I live downtown and I like it.
I’m in an old, old building, on a block with a check cashing place and a 99 cent store — it couldn’t be more different from the glossy highrises with the gyms and swimming pools. But I can walk to work, walk to the waterfront, walk to the grocery store, etc etc. I move my car so infrequently that I forget where it is in my parking garage, and gritting my teeth during the commute home is a distant memory. I’ve got 1300 square feet for $1400/mo (!!!) and nice, professional, quiet neighbors.
That said, if property values slide and all the new buildings stay vacant, I worry about what might happen. How long can the slick new restaurants with ten dollar cocktails last if everyone’s money dries up?
My lease is up next March (sold my gated-community monstrosity in Chula Vista April 05). I’m not sure what I’ll do then, but for the moment renting downtown is great.
ParticipantHey! I live downtown and I like it.
I’m in an old, old building, on a block with a check cashing place and a 99 cent store — it couldn’t be more different from the glossy highrises with the gyms and swimming pools. But I can walk to work, walk to the waterfront, walk to the grocery store, etc etc. I move my car so infrequently that I forget where it is in my parking garage, and gritting my teeth during the commute home is a distant memory. I’ve got 1300 square feet for $1400/mo (!!!) and nice, professional, quiet neighbors.
That said, if property values slide and all the new buildings stay vacant, I worry about what might happen. How long can the slick new restaurants with ten dollar cocktails last if everyone’s money dries up?
My lease is up next March (sold my gated-community monstrosity in Chula Vista April 05). I’m not sure what I’ll do then, but for the moment renting downtown is great.
ParticipantKudos to everyone! You’re all restoring my faith.
The posts in this thread show that you can be (1) fiscally aware and even (2) fiscally conservative while being (c) compassionate, and aware that most of those here illegally are simply trying to achieve what we all want — some financial security for their families.
ParticipantEnough already. No dessert for either of you.
ParticipantThe last one I saw was at one of the RE offices on the east side of India, north of Beech. Or Cedar. Little Italy.
ParticipantI know you said you’re not trying to advertise for yourself here, but when do you plan to hang your shingle?
Although I’m interested in broad themes, and I spend way too much time obsessively reading sites like this one, I don’t have the interest or energy to pick individual funds. I can be one of your first customers seeking professional financial advice once you make it official.
I’ve spoken with the advisors provided by my funds from time to time (T. Rowe Price and Hartford), but their advice is very general, and very stay the course.
ParticipantOK. So you’re not saying that the stock market is a complete waste of money?
I’m one of those people who had the words “dollar cost averaging” hammered into their head. I started putting 10% of my paycheck into various deferred comp plans right out of grad school, when I was 25. Now I’m 35 and I have 20% taken out of each paycheck (and, just like everyone promised, I really can’t feel it now).
Now I’m worried by everything I’m reading here. I have five different mutual funds, mostly aggressive b/c of my age. But if the stock market tanks too much, or for too long, I could be screwed.
ParticipantRich, Powayseller, anyone . . .
Do you think mutual funds are a bad idea even if they’re tax deferred (e.g. 401 or 457 plans)?
ParticipantI guess I just don’t understand why anyone would want a 50 year loan. I’m 35; don’t mean to be a pessiment, but odds are good I’d be dead before I could pay a 50 year mortgage off. Why would I rent a small house from the bank for 50 years instead of renting a large house from someone else? The only two things I can think of are (1) leaving something for the kids (which I don’t have) and (2) never being forced to move. I think I’d rather have the extra 1000 sqare feet.
ParticipantHow on earth is a 50 year mortgage any different from renting?
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