[Coronita]

You know, you guys can't have it both ways!

If domestic jobs are getting outsourced, thats gonna hit domestic asian job seekers just as hard as anybody. Especially those in the IT jobs that can be most easily sent overseas.

 

…Unless your skills are better than others…. Or you work for a company that requires some 2nd language to bridge gaps.

Sorry Kewp, but unless you haven't noticed, some of the successful companies tech companies here in San Diego are run by foreigners or have foreign roots. Also, in tech field there’s a high probability your next boss/employer will be asian (like it or not). Simply because, these companies overseas are outgrowing and outperforming our domestic counterparts. Like someone previously alluded to Huawei is giving Cisco's run for the money, most electronics are made in China, and most software or a good portion of it is made in india.

As far as your MBA analogy. I'm really lost. Because actually I have a lot of relatives and buddies that graduated from Wharton, Stanford, Harvard…And usually top 10 mba's don't end up working at these normal companies in marketing or sales unless they totally foobared their MBA degree or want an easier life/family constraints….The big bucks are over on Wall Street, VC's, LBO shops, Management Consulting (Mckinsey,Bain,BCG), hedge funds, or computational finance on W.S.. And in those jobs, you can't suck at math period….(BTW: a good portion of these hires are computational finance/risk analysis/etc are indians/asians/russians/eastern europeans because of their computation abilities. Hedge funds also hire a good portion of these folks)

 

…..And if you're not in the top 10 mba's, it's pretty useless for these positions, because they won’t talk to you..You’re stuck with the traditional marketing/sales positions at a company…and really isn't significant enough to really be considering it to be your primary source of income imho. Last time I checked, none of the schools in local San Diego would i consider to have any relevant MBA program that would really make any significant salary differential. And talking to folks from USD, UCSD, SDSU who gave me what numbers they are seeing, seemed to confirm that. (Was considering an MBA here locally, but it wouldn’t really add value to what I currently do, and really wouldn’t open doors to things that would offer significant higher pay).

You have to understand what happened during the dot bomb..A lot of non-techies became techies, and then were pushed out because their skills really sucked. Then they went to go get their MBAs, so there's a flood of MBAs at all sorts of levels. Most of them are pretty useless. The only place where I see them add merit are at companies that stick to formality (typically defense companies)…But no one in their right mind would work at those companies because the pay in those companies suck overall…..I have nothing against MBAs. But just having one doesn't mean much these days unless you actually do something with it. And while you could probably learn some things from the program, I would say in general you could learn from everything whether you really had one or not. Plenty of immigrants I know here that run companies and businesses without an MBAs, and they significantly better than you and I ever will be.

 

[Coronita]

You know, you guys can't have it both ways!

If domestic jobs are getting outsourced, thats gonna hit domestic asian job seekers just as hard as anybody. Especially those in the IT jobs that can be most easily sent overseas.

 

…Unless your skills are better than others…. Or you work for a company that requires some 2nd language to bridge gaps.

Sorry Kewp, but unless you haven't noticed, some of the successful companies tech companies here in San Diego are run by foreigners or have foreign roots. Also, in tech field there’s a high probability your next boss/employer will be asian (like it or not). Simply because, these companies overseas are outgrowing and outperforming our domestic counterparts. Like someone previously alluded to Huawei is giving Cisco's run for the money, most electronics are made in China, and most software or a good portion of it is made in india.

As far as your MBA analogy. I'm really lost. Because actually I have a lot of relatives and buddies that graduated from Wharton, Stanford, Harvard…And usually top 10 mba's don't end up working at these normal companies in marketing or sales unless they totally foobared their MBA degree or want an easier life/family constraints….The big bucks are over on Wall Street, VC's, LBO shops, Management Consulting (Mckinsey,Bain,BCG), hedge funds, or computational finance on W.S.. And in those jobs, you can't suck at math period….(BTW: a good portion of these hires are computational finance/risk analysis/etc are indians/asians/russians/eastern europeans because of their computation abilities. Hedge funds also hire a good portion of these folks)

 

…..And if you're not in the top 10 mba's, it's pretty useless for these positions, because they won’t talk to you..You’re stuck with the traditional marketing/sales positions at a company…and really isn't significant enough to really be considering it to be your primary source of income imho. Last time I checked, none of the schools in local San Diego would i consider to have any relevant MBA program that would really make any significant salary differential. And talking to folks from USD, UCSD, SDSU who gave me what numbers they are seeing, seemed to confirm that. (Was considering an MBA here locally, but it wouldn’t really add value to what I currently do, and really wouldn’t open doors to things that would offer significant higher pay).

You have to understand what happened during the dot bomb..A lot of non-techies became techies, and then were pushed out because their skills really sucked. Then they went to go get their MBAs, so there's a flood of MBAs at all sorts of levels. Most of them are pretty useless. The only place where I see them add merit are at companies that stick to formality (typically defense companies)…But no one in their right mind would work at those companies because the pay in those companies suck overall…..I have nothing against MBAs. But just having one doesn't mean much these days unless you actually do something with it. And while you could probably learn some things from the program, I would say in general you could learn from everything whether you really had one or not. Plenty of immigrants I know here that run companies and businesses without an MBAs, and they significantly better than you and I ever will be.

 

[Coronita]

Home price above $500K are McMansion speculators or fradulent loan purchasers. E.g., As I drove by one home priced at 750K I noticed the 12 people living, eating and parked in the front yard. I am sure that given the style of clothing (white t-shirts and long black shorts covering arm tattoos) that these individuals were not lawyers, doctors or people with professional degrees who make over 100K in order to purchase expensive homes) Some neighborhoods can go from nice street to ghetto. . . when you see a 600K home with a 1999 Ford Focus and a Ford F150 packed with a Lawnmower you can do the Math? I forsee complete financial meltdown and 12,000,000 new credit applications to purchase the aftermath.

 

Thanks for the info…Oops. On the weekends, I'm outside wearing a t-shirt covered in paint mowing the lawn with a hand push mower in Carmel Valley. Maybe that's why my neighbors hate me. But I guess it's because I'm cheap and don't want to pay $60 to hire a gardener to mow 5 feet of grass. (I don't even have extended cable).

 

[Coronita]

Home price above $500K are McMansion speculators or fradulent loan purchasers. E.g., As I drove by one home priced at 750K I noticed the 12 people living, eating and parked in the front yard. I am sure that given the style of clothing (white t-shirts and long black shorts covering arm tattoos) that these individuals were not lawyers, doctors or people with professional degrees who make over 100K in order to purchase expensive homes) Some neighborhoods can go from nice street to ghetto. . . when you see a 600K home with a 1999 Ford Focus and a Ford F150 packed with a Lawnmower you can do the Math? I forsee complete financial meltdown and 12,000,000 new credit applications to purchase the aftermath.

 

Thanks for the info…Oops. On the weekends, I'm outside wearing a t-shirt covered in paint mowing the lawn with a hand push mower in Carmel Valley. Maybe that's why my neighbors hate me. But I guess it's because I'm cheap and don't want to pay $60 to hire a gardener to mow 5 feet of grass. (I don't even have extended cable).

 

[Coronita]

O.K. hawk, those are fair rules. I need to research the murrieta zips before placing my bet but I will place a side wager of a shot of choice at the pub that 92592 falls last. I will gladly buy you a shot if you find me a 92592 down 50% because I'll buy the shot and the house. To answer the question the other poster said of why would anyone pay 500-700 for a home out here despite being far from San Diego, good question. The answer is that it is overpriced and with gas rising it will go down first but that doesn't mean San Diego isn't overpriced as well. The reality is that not everyone works in the city. I have mostly worked in North San Diego County for the last fifteen years and a 25 minute drive isn't that big of a deal to me. The schools, crime rate and people are directly in comparison to Carlsbad, 4-s or Poway, well above any other reamaining N. County city and probably half the price of those three communities. They either don't want to live in the places they can afford or they don't actually drive to Downtown S.D. You may be suprised at the amount of jobs in North County San Diego and how expensive the housing is or how rotten the schools and neighborhoods are in the 400-500k areas of N. County. When I got out of college I got a job in Vista and the drive from San Diego took longer than the drive to work from Temecula, it was cheaper, nicer and safer than my options at the time so I moved. I can only guess that other have come over the years for similar reasons.

 

I'm just trying to understand the rationale to buying in temecula at a high price. Because at $700k, you could buy something inland (albeit smaller yard possibly). I'm just trying to understand the rationale of why a $700k home in say temecula would make sense, but a $700k home in say 4s ranch or rancho penisquito wouldn't. I always thought that more jobs/opportunities are inland and the schools would be better, but I guess I'm wrong.

[Coronita]

O.K. hawk, those are fair rules. I need to research the murrieta zips before placing my bet but I will place a side wager of a shot of choice at the pub that 92592 falls last. I will gladly buy you a shot if you find me a 92592 down 50% because I'll buy the shot and the house. To answer the question the other poster said of why would anyone pay 500-700 for a home out here despite being far from San Diego, good question. The answer is that it is overpriced and with gas rising it will go down first but that doesn't mean San Diego isn't overpriced as well. The reality is that not everyone works in the city. I have mostly worked in North San Diego County for the last fifteen years and a 25 minute drive isn't that big of a deal to me. The schools, crime rate and people are directly in comparison to Carlsbad, 4-s or Poway, well above any other reamaining N. County city and probably half the price of those three communities. They either don't want to live in the places they can afford or they don't actually drive to Downtown S.D. You may be suprised at the amount of jobs in North County San Diego and how expensive the housing is or how rotten the schools and neighborhoods are in the 400-500k areas of N. County. When I got out of college I got a job in Vista and the drive from San Diego took longer than the drive to work from Temecula, it was cheaper, nicer and safer than my options at the time so I moved. I can only guess that other have come over the years for similar reasons.

 

I'm just trying to understand the rationale to buying in temecula at a high price. Because at $700k, you could buy something inland (albeit smaller yard possibly). I'm just trying to understand the rationale of why a $700k home in say temecula would make sense, but a $700k home in say 4s ranch or rancho penisquito wouldn't. I always thought that more jobs/opportunities are inland and the schools would be better, but I guess I'm wrong.

[Coronita]

Fearful"It is a sense of superiority. When you know better, and sit on the sidelines during an asset bubble,"

I made the best purchase deal of my life in San Diego in 2004.Many of my friends were still doing fine.It's called experience. The excuse you use actually only works for the last two years. What about the rest of the time? It's convenient to compare yourself to losers.I bet you are young. You are sitting in a really great position now. Your time will come.
Best wishes

 

I have to side with Rustico on this one. Everyone always has 20 20 vision in hindsight. I'm not sure what's worse, folks who blindly rush in, or folks who never take advantage of a situation   The former imho is too reckless, the latter are the forever skeptics at everything.

As far as sitting on the sidelines. The way I look at it…There are different reasons why a lot of folks are sitting on the sidelines. Some are sitting there because they made an active decision (sold home,  renting because they believed homes are coming down).Some just don't care if they rent. Others are sitting on the sideline because they were priced out.  I'm not going to judge the buy/rent decision or whose in what category. It just seems like there's a lot of confusion these days about folks that were proactively smart sideliners versus the coincidental sideliners. Just like there are those who sold homes and made money out of smart decision making process, and those who happen to have just done that out of coincidence (I'll admit, I'm more the latter).

What I don't understand is that for most folks that hope for a utter demise, I don't think they're really going to be in that much better shape then everyone else if the financial market completely collapses. Because if we really do have a financial crisis, unless you are sitting on millions in gold,

tough credit tightening + high mortgage rates + inflation/dollar devaluation  ==> home still not affordable.

And if you are sitting on gold millions, you're probably not one of the folks wishing for people's demise because there's really no point. 

 

 

[Coronita]

Fearful"It is a sense of superiority. When you know better, and sit on the sidelines during an asset bubble,"

I made the best purchase deal of my life in San Diego in 2004.Many of my friends were still doing fine.It's called experience. The excuse you use actually only works for the last two years. What about the rest of the time? It's convenient to compare yourself to losers.I bet you are young. You are sitting in a really great position now. Your time will come.
Best wishes

 

I have to side with Rustico on this one. Everyone always has 20 20 vision in hindsight. I'm not sure what's worse, folks who blindly rush in, or folks who never take advantage of a situation   The former imho is too reckless, the latter are the forever skeptics at everything.

As far as sitting on the sidelines. The way I look at it…There are different reasons why a lot of folks are sitting on the sidelines. Some are sitting there because they made an active decision (sold home,  renting because they believed homes are coming down).Some just don't care if they rent. Others are sitting on the sideline because they were priced out.  I'm not going to judge the buy/rent decision or whose in what category. It just seems like there's a lot of confusion these days about folks that were proactively smart sideliners versus the coincidental sideliners. Just like there are those who sold homes and made money out of smart decision making process, and those who happen to have just done that out of coincidence (I'll admit, I'm more the latter).

What I don't understand is that for most folks that hope for a utter demise, I don't think they're really going to be in that much better shape then everyone else if the financial market completely collapses. Because if we really do have a financial crisis, unless you are sitting on millions in gold,

tough credit tightening + high mortgage rates + inflation/dollar devaluation  ==> home still not affordable.

And if you are sitting on gold millions, you're probably not one of the folks wishing for people's demise because there's really no point. 

 

 

[Coronita]

Though I'd agree that the media are usually are confused, you are incorrect. If you read the article there is a column on the right-hand side listing assets and liabilities. Net worth = Assets- liabilities. Assets were estimated at nearly 2.4 million Liability (primarily mortgage debt) was ~ 750K You could argue that their assets aren't worth as much as they estimate. But please get the facts straight before typing.

 

Exactly what I was saying. The couple can liquidate the vacation home. Wife is choosing not too, but instead cutting expenses elsewhere (medication). Also hubby going back to work…From a financial perspective they can exit just fine, but are choosing not too. That part is dumb, but this couple isn't exactly taking it up in the shorts.

Actually, my real question is why did this couple want to be in an article in Money? To demonstrate what not to do? Why do people like to opening disclose their net worth. It's one thing to post in blogs without really identifying who you are…But an article…

 

I generally find the Money articles pretty dumb. My favorite dumb articles are all the "Millionaire in the Making" ones. Every single article, the primary home's equity was part of computation. Yeah whatever. And who isn't a millionaire these days using that metric.

[Coronita]

Though I'd agree that the media are usually are confused, you are incorrect. If you read the article there is a column on the right-hand side listing assets and liabilities. Net worth = Assets- liabilities. Assets were estimated at nearly 2.4 million Liability (primarily mortgage debt) was ~ 750K You could argue that their assets aren't worth as much as they estimate. But please get the facts straight before typing.

 

Exactly what I was saying. The couple can liquidate the vacation home. Wife is choosing not too, but instead cutting expenses elsewhere (medication). Also hubby going back to work…From a financial perspective they can exit just fine, but are choosing not too. That part is dumb, but this couple isn't exactly taking it up in the shorts.

Actually, my real question is why did this couple want to be in an article in Money? To demonstrate what not to do? Why do people like to opening disclose their net worth. It's one thing to post in blogs without really identifying who you are…But an article…

 

I generally find the Money articles pretty dumb. My favorite dumb articles are all the "Millionaire in the Making" ones. Every single article, the primary home's equity was part of computation. Yeah whatever. And who isn't a millionaire these days using that metric.

[Coronita]

What i don’t understand is how the heck does a person spend $700-$800k for homes in temecula? I’m sure it’s a nice home but it’s soooo far away from central san diego….

Any thoughts?

[Coronita]

What i don’t understand is how the heck does a person spend $700-$800k for homes in temecula? I’m sure it’s a nice home but it’s soooo far away from central san diego….

Any thoughts?

[Coronita]

I hear about friends of friends that made a killing day-trading during the dot-com boom but I haven't heard of anyone making any money at it in the last few years. One of my buddies went to a seminar and dropped $3,000 for a computer program that tells him what/when to buy/sell. It was worthless! He might as well have have used a random number generator to make his picks. Total loss of 3K. I think he roughly broke even on his day trading – some gains, some losses but the software was a total loss.

 

I have found that most people that talk about making a killing day-trading only tell you when they are right, and never when they are wrong. Although most people think they are professionals, most are not. There are probably a handful of folks that could probably day trade that don't work for institutions, but for the rest of us, it's not going to work. Either (1) we get to emotional or (2) we are out gunned by the I-banks or both. Also, one reason I stopped trying to day trade…. Pain in the ass end of year tax calculations even for my cpa.. It just wasn't worth the time for me, because I didn't personally  do that well to really justify the pain in the ass things at the end of the year. If you think you're one of the handful of folks that can actually be successful, by all means try it.

[Coronita]

I hear about friends of friends that made a killing day-trading during the dot-com boom but I haven't heard of anyone making any money at it in the last few years. One of my buddies went to a seminar and dropped $3,000 for a computer program that tells him what/when to buy/sell. It was worthless! He might as well have have used a random number generator to make his picks. Total loss of 3K. I think he roughly broke even on his day trading – some gains, some losses but the software was a total loss.

 

I have found that most people that talk about making a killing day-trading only tell you when they are right, and never when they are wrong. Although most people think they are professionals, most are not. There are probably a handful of folks that could probably day trade that don't work for institutions, but for the rest of us, it's not going to work. Either (1) we get to emotional or (2) we are out gunned by the I-banks or both. Also, one reason I stopped trying to day trade…. Pain in the ass end of year tax calculations even for my cpa.. It just wasn't worth the time for me, because I didn't personally  do that well to really justify the pain in the ass things at the end of the year. If you think you're one of the handful of folks that can actually be successful, by all means try it.

[Coronita]

Hahahahaaaa !!! I hope nobody wonders where all those old Wal-Mart greeters come from !! They pissed away their retirement ! hahahahahaaa…now they will work until they die….fools

 

Wow, that's mean. Actually what are you doing shopping at Walmart to begin with 🙂 ? Second, this couple isn't in exactly dire financial shape. Read the article again. They are choosing to bleed because they don't want to sell their vacation home, which they should be able to pocket about $500k from.  

[Author]

Posts