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CoronitaParticipantBump….
This “mcmansion” just went pending…
So once again, most of you are wrong…again….End of discussion.
No longer available…
Next property.
CoronitaParticipant[quote=spdrun]San Diego vs Sillycon Valley: in San Diego, you see people actually GOING HOME at 5-6 pm. Not as much silliness like people taking company-store buses home at 10 pm. Not so much tech-hipster-startup-dudebro culture either. Normal people. Good unpretentious restaurants. Very little stuff catering to pretentious hipster twits.
Quantity of money may be lower, but standards for “work ethic” are fairly normal, not encouraging of martyrdom.[/quote]
That’s not true. Ask Qualcomm engineer that works in QCT or any Broadcom engineer that is in Rancho Bernardo or Intel engineer that works in Rancho Bernardo or many of the tech startups here or many of the defense contractors here (the ones that are left). Or the Samsung engineers here. Or the Sony engineers that are still here..Or the Intuit engineers, especially during mini-peak and peak tax filing….They burn the same hours as silicon valley slave driving companies. It really depends on the culture of the place that you work. In the Bay Area, my hours weren’t that bad. I am an early person, but I didn’t find many people in the office before 10-10:30am and most of them were out of the office by 7pm, mostly to avoid commute traffic, since many of them lived further away.
And wrto the bay area, only a small percentage of people actually do financially well, most are average at best. So, wrto to being pretentious, I’d say it’s much more here than up there, because up there for an average person, the cost of living is so much higher, that they can’t afford to be pretentious…. Here, on the other hand, at least where I live, I see more BMW’s/Mercedes/Audi’s than I do Honda Accords and Toyota Camrys, and appearances do appear to matter more down here than up there, at least along the coast parts of town. Just look at how many plastic surgery places there are acattered all across SD (not nearly as bad as in L.A.)
The biggest drawback for SD is the ability to job hop. If you’re a worker bee, you can burn a lot more bridges up there without worrying about it. Down here, you really don’t want to burn any bridges, because the community is really tiny. And that goes both ways. Your best tech workers down here also know about some of the worst managers in the community.
If you want crunchy people, stay out of CA.
CoronitaParticipantThe sucky part about Qualcomm Stadium is regardless of whether the Chargers stay or not, it’s not going to be the same as it was before….For folks that use their parking lots for driving events…..
Oh well, looks like more track days elsewhere.
CoronitaParticipant[quote=svelte]If you want to start picking it down to the finer points, then you also have to factor in what that $110M would have earned elsewhere in 4 years…
He sure didn’t make any money, and it certainly looks like he lost money to me![/quote]
He probably bought a tract home in Carmel Valley or Encinitas.I hear they are pretty expensive these days.
CoronitaParticipant[quote=bearishgurl]
But, there you have it. Your “peers” in SV have the potential to eventually make 2-3 times your salary but they have to make certain sacrifices to do so. [/quote]This is the worst idea to live in the Bay area. Most average people don’t go there for the salary. The salary is only pays the bills, barely. Most people that just goes there for the salary cannot afford to own the homes there, since affordability is even less than here.
The only reason one would go there is to work for stock options with the hope that one can hit the big one or if you are going there a C-level or higher executive.
My salary up there was about 25% higher when I was there during peak bubble. That’s squat and that’s before tax. Especially these days, if you break $200k up there as an enginerd (which isn’t hard to do), you’re also subject to additional “wealth” tax at both the federal and state level, so your effective take home pay in proportion to real estate prices up there is considerably worse versus here if you are below that threshold.
It’s not possible on one salary alone for the majority of worker bees to afford living in most of the places in the bay area that is ok..The rent also will eat into most of your salary since, again, you pay rent with after tax dollars and rent is so high there.
What the bay area does illustrate is that salary is the worst way to accumulate wealth for most people (unless you are an exec). Up there, if you can’t even afford to own your own primary, good luck being able to own investment properties that generate income.
So this is where I sort of chuckle. Some of my colleagues up there that weren’t so lucky with the stock option roulette might have pretty large salaried base packages (I’d say maybe 25% more), but they have no real estate investments, limited stock they purchased themselves, the same 401k (since everyone maxes out the same), and they still rent.
Salaries pays bills. That’s it. Most people will never get ahead on salary alone.
If it wasn’t for my “luck” to go through two companies that went public and 1 that was acquired during the boom, I wouldn’t have stayed nearly as long as I did. And in hindsight, wasn’t totally screwed over by the Ericcson merger and was able to stay with Qualcomm during that time, I would have been financially much better off today.
CoronitaParticipantI don’t even think a 1000 people layoff at qualcomm would impact north county home prices in a meaningful way. Nor would it impact mira mesa.
CoronitaParticipantIt’s crapshoot what really would happen. My guess as as useful as anyone else’s guess. That’s why I don’t believe in making financial decisions based on extreme viewpoints. As much as we’d like to think we can outsmart the markets, most people can’t or at least not for an extended period of time.
I don’t know what will really happen in the bay area. It moves in it’s own ways, and no longer living there, I wouldn’t be able to comment on it.
CoronitaParticipantI do think home prices in the bay area will correct though once tech goes into decline.
CoronitaParticipant[quote=The-Shoveler]The Rates are so low right now that no one will want to refi out of their existing loan (unless they absolutely have too IMO).
I see this also affecting the average time between moves and maybe more people holding onto their primary as a rental if they do.
It is a once in a life time event IMO,[/quote]
That’s one of the reasons why I’m inclined to think home prices are not going to crater once rates do start to rise if they do rise slowly, provided the rest of the economy doesn’t go south. I think the majority of the buyers (at least in the more higher end homes) are probably well financed since loan requirements are still pretty stringent. I don’t think we see too many people putting <20% down for more expensive homes. I don't see a mass panic for people to sell when their payments are locked in at a historical low rate. It would be different if the buying pool were weak buyers with questionable finances, but I don't think the majority of buyers are in this category, at least not in the higher end. Things probably will trickle down when rates go up, but that seems like it might be a slow drip down...So for example, I think I'm going to end up keeping my primary and if were to sell, I probably wouldn't need to desperately drastically drop my price in a higher interest environment, since I would most likely just end up keeping it. The payments are so low and/or maybe by that time, I have no payments on this house since I was able to get a 15 year with payments that are lower than what monthly rent rates would be.
CoronitaParticipant[quote=The-Shoveler]Once rates start to go up the time between refinancing could be maybe 15-20 years?[/quote]
Once rates start trickling up, I can’t think of a reason for me to refinance my primary. Although my outstanding loan amount would be less, and refinancing at a higher rate would only lower my monthly payments at the trade off of restarting another 15 or 30 year loan and paying more at the end of the term. Hopefully if things work out well, I’ll be done with this mortgage anyway.
Refinancing a rental for a cashout to buy other things or taking out a new loan to buy another primary, is something different though. That, I guess, would depend on the current market rate for mortgages.
CoronitaParticipantFor me..when rates fall .50% or more AND if mortgage balance is > $200K
CoronitaParticipantI think it’s great that kids want to learn music. For my own kid, I just want them to want to learn, not me pushing them all the time to do it. Then again, at a young age, kids don’t always know what they want or not want to to so some pushing around I guess is necessary. So I don’t know. I tried this reverse psychology thing in which I waited until my kid saw every other kid start to play an instrument. My kid then asked me for lessons, to which I said no because it’s a huge time commitment on both parent and kid, and I would only consider it if they could want to practice themselves. In my ideal world, my kid should come home everyday and want to practice themselves without me nagging about it. So far, it seems to work. We’ll see how long it lasts. This could backfire one day in which If i say, if you don’t want to practice, then there’s no point in continuing with taking lessons, to which my kid might one day just say “ok…”
CoronitaParticipant[quote=FlyerInHi][quote=flu]
There’s an app for that.[/quote]Playing music is more romantic.[/quote]
There’s an app for that too.
CoronitaParticipant[quote=FlyerInHi][quote=cvmom] But when I see how much he enjoys it now, I think all those lessons were a long-term gift that we gave him.[/quote]
An accomplished person plays a musical instrument. It’s a life skill.
It’s great when you’re dating and want to woo the person you fancy.[/quote]
There’s an app for that.
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