[no_such_reality]

As I said previously, rent it, sell it or live it. It all depends. It is RE, and location, location, location. If you don’t have a job or business in the area, rent it or sell it.

The even bigger thing is when was it given.

Either way, it’s a $300,000 windfall. It’s inheritance that smokes 99% of the population’s inheritances.

It is a silver spoon.

Do you know why? I’d sell it, take all but about $50K the proceeds pay my house down to a really low conforming loan and refi into a 15 yr fixed. I’d than make an extra principal payment while saving about $300/month for five years, then take the $50K rainy day money, along with another little rainy day pile and just pay it off. Provided I haven’t had great misfortune requiring me to hit the funds.

Again, I’m in OC, my business is in OC. Many people, live in OC. Hence, that little gem in Buena Park is reality for many. Just like the house in Escondido is reality in SD. The job markets are slightly different, commutes different, but economic realities are the same.

[no_such_reality]

BG, again, you’re missing the point. Taxes are high and are one component of the high expenses it takes to live here. Meanwhile opportunities are falling and the Gen-Y you like to rail against in Cali has lower expectations than their parents. We’ve had that discussion before, areas where the up coming generations have lower expectations than the current generation stagnate and decline.

Housing and other expenses attribute greatly to the housing disconnect and the general dissatisfaction with SoCal once people are done with their single years.

There is a continued pressure on the upper middle class that influences out migration of that critical tax and consumer base. As people begin to look elsewhere, they are seeing more opportunity, less government interference, less expenditures and equal quality of life issues.

California, through tax policy, regulation and good fortune is accelerating the income divide between the haves and the have nots with the the middle ground disappearing. We as society in California will not survive the continued drain on quality jobs and lowered quality of life expectations for middle income $50K-$150K people and people starting out from college.

When I say good areas, I mean desirable. IOW, coastal. In LA/OC that’s west of the 405. In OC, almost all SFRs sub-$400K are in neighborhoods that are either bad as in dangerous or have a high concentration of one ethnicity. OC is fairly self segregated. As you move inland, particularly, the IE, I see no reason not to move to Phoenix, SLC, Denver, Texas. You’ve got the same climate and you’re two hours from the beach anyway.

Here’s a nice little house. Only $380,000 for 1100sf and 3/1.75.

To buy it you need what? A $100K income if doing a 3% FHA loan, PITI will then be about 27% of your gross.

That neighborhood? Not horrible, not great. Renting though, is even more expensive. And that’s now, it was even worse over the last decade.

As for the Escondido house, think about the economic advantage of not having rent, what’s that? $1400-$2200 a month they’re not forking over? That’s if they could live in Escondido. If not rent it. As for fixing, well, rent to repairs is a pretty solid repair schedule. Imagine how poor their life would be if they weren’t left the house.

[no_such_reality]

BG, I know plenty of those Asian and East Indian immigrants. Many are in debt up to their eyeballs. And that’s inspite of both of them being highly educated, highly employed and frankly, they’re wondering how to get off the financial treadmill too.

I also know plenty that are working their backsides off scraping to build wealth and get enough capital to open that 2nd franchise or buy the next rental.

BTW, have been to fly-over land lately? Asian and East Indian immigrants are common.

Negative connotations aside of your post, you make our point, you need to down-grade your material lifestyle or make $200K plus to be in the good parts of Cali. And unless someone left you a house, $100K in Cali is lower middle income existence and it just gets worse as you go down from there. And I’m OC/LA where the housing and expense issue is even more pronounced than SD.

Regarding friends #2 & #3, yes, friend #2, was single making $100K+ and basically feeling poor. To get a house he’d have to stretch to buy crappy and in a crappy hood.

Friends #3 same, she was making $100K and hubby another $50Kish. Ironically, making more now in St. Louis.

the 8% plus sales taxes, the 9.3% income tax, just extra kicks in the shins.

And yes, all five of them where in the $100-$300K range. Elsewhere, that’s really good money. In SoCal, that’s comfy with trade offs.

[no_such_reality]

The practical thing, IMHO, is to flee the area if threatened, call 911 on the way out and report multiple people shooting at you and your children in the general area you are at. (if they are).

Or if you don’t feel threatened, i.e. just guntards having a good time and not threatening, start screaming.

It depends. But in my past experience, guntards being stupid and shooting in the general direction of people are typically not good gun owners, they’re out drinking, partying and or have a variety of other reasons they shouldn’t have firearms. i.e they’re on probation, ex-felons. Let them deal with the cops for blithely lobbing bullets around.

[no_such_reality]

[quote=SK in CV][quote=no_such_reality]However, my point was to counter the ‘everybody will come crawling back to SD meme'[/quote]

Point taken. People leave for a lot of reasons. I left and it had nothing to do with taxes. I’m quite content but still expect I’ll be back some day.[/quote]

Probably when you retire and have amassed a nicer nest egg than is possible in California.

As someone else said, California’s real problem is the out migration of the $75K-$200K crowd. The people that make lots of bank but in Coastal California are just getting by.

[no_such_reality]

I agree, mint the coin. It’s the kind of shock that the public needs.

Or, raise the debt limit to $20 trillion, give that card up and kill it when they hit it in October 2014 right before election if they don’t curtail to the CBO projections (which without the tax increases they won’t).

We are spending junkies. We need to hit bottom. So put a great big pile of debt coke in front of the government and let them loose.

[no_such_reality]

[quote=SK in CV]
So none of them actually left because of the tax increase on very high income taxpayers.[/quote]

They left because of high taxes on them!

And perceived better opportunities elsewhere.

Your prior link to the Stanford study is very good. It really highlights the problem of California’s current tax paradigm. When the group you’re relying on to generate the bulk of your taxes can shift due to economic reasons by 50% in two years, you’re going to have continual problems.

However, my point was to counter the ‘everybody will come crawling back to SD meme’

[no_such_reality]

[quote=craptcha]Would it be ok for squat350 to bring a gun and shot back if it happens again? He likely does not have a diagnosis that would prevent him from getting a gun, he felt threatened and he had his offspring with him (isn’t there a legal requirement for parents to protect their children?).[/quote]

Assh*les are assh*les. Does it matter if they have a gun or are just road raging in 6000lb SUV? Do you want to flip-off and cut-off the SUV that just past you screaming because you were only doing 75mph on the I15?

[no_such_reality]

[quote=bearishgurl]
Uhhh, Mike? Hello?? Your “friends” haven’t been gone long enough to crawl back to SD broke and desperate to “start over” after asking to “rent a room” from you “for just six months.”
[/quote]

Hmm, let’s see.

Friends #1, moved to Phoenix 5 years ago. Happier than a bikini watcher on main beach in August. They were shaking their heads at the taxes we past over Christmas.

Friend #2, moved to Austin 6 years ago. No longer stressed, feeling broke and living in a nice house on an acre instead of scraping by in a one bedroom apartment in beach town.

Friends #3, went St Louis 6 years ago. Happy, job is good, lots of opportunity. Has a 15 minute commute instead of an hour plus from the IE to the coast.

Friend #4, went to Atlanta 4 years ago. Happy, started her own business, less stressed now.

Friend #5, Vegas 5 years ago. Came back 3 years ago. Not happy there, not all that happy here.

That’s an 80/20 success rate.

[no_such_reality]

Squatter, the open market is an illusion. Right now, all those offers filling up the voicemail aren’t worth the digital space they take up. Cash offers are being thrown around with virtually no intent to perform. They regularly flake within hours of having their offer accepted. We just bought a place for a rental, of the five offers on it, we were the lowest. Why’d we get it? The two cash offers above us flaked in the first 24 hours. The seller wanted it sold and didn’t want to deal with the FHA buying process, wasn’t worth the 5% price difference.

Don’t waste your emotional energy thinking you got screwed out of this house. It’s not worth it.

As for the listing, a simpler explanation is an RE Agent, just fluffing their MLS stats.

Speedy sale, check!
Above asking price, check!

[no_such_reality]

Hmm, he’s not on kickstarter. I’m surprised as it seems like a good launch to select a funding level that will allow him to do an initial run large enough to get better pricing.

He could even do a $50 pledge logo’d t-shirt.

$100 pledge a branded shoe care bag

$200 pledge, cap toe shoes.

$350 pledge, both shoes.

Target source of say $250k?

etc.

What’s a decent bulk run on a shoe manufacturing order? 500? 1000? 2000?

[no_such_reality]

[quote=SK in CV][quote=no_such_reality]The administrative requirements are pre-requisites to the SOW which act as a barrier to entry and essentially act as an unnecessary and esoteric requirement. i.e. a mil-spec hammer when a $5 hammer from HD would do the job.[/quote]

You may think it’s unnecessary and esoteric. But it’s also part of the process of doing business with almost every Fortune 500 company. It is not solely a government thing. It is a big organization thing. And the federal government is as big as it gets.[/quote]

Yes, that’s what I said back on page 1. That barrier to entry runs basically both ways. Once in, management in large organizations lose incentive to treat contractors as contractors and they become just part of “the cost of doing business”.

[no_such_reality]

[quote=SK in CV][quote=no_such_reality]
That’s the mil-spec issue in a nutshell.[/quote]

No, it’s really not. It has nothing to do with SOW’s. It’s purely administrative.[/quote]

The administrative requirements are pre-requisites to the SOW which act as a barrier to entry and essentially act as an unnecessary and esoteric requirement. i.e. a mil-spec hammer when a $5 hammer from HD would do the job.

[no_such_reality]

[quote=SK in CV][quote=no_such_reality]So you’re saying it’s a $600 Mil spec hammer.[/quote]

No, nothing at all like that. Whole different issue and not even marginally related.[/quote]

Actually it is.

You said it when you said “Do you have any idea the hoops that you have to jump through to be an approved federal contractor? (I’ve been through that process, becoming an approved contractor for Apple is the only more tedious process I’ve ever seen.)”

That’s the mil-spec issue in a nutshell.

[no_such_reality]

[quote=SK in CV]
Do you have any idea the hoops that you have to jump through to be an approved federal contractor? (I’ve been through that process, becoming an approved contractor for Apple is the only more tedious process I’ve ever seen.) I’m not saying it never happens, but it’s extraordinary when an federal employee leaves their position and immediately become direct contractor to the federal government without an intermediary. Beyond the hoops required to become an approved federal contractor, the federal government contracts out specific jobs/duties, not positions. They contract with XYZ Company to provide technical support for abc functions. Not 40 hours a week that meets a specific job description.[/quote]

So you’re saying it’s a $600 Mil spec hammer.

I’ve been on both sides of the fence in large companies.

Again, the big money is going direct. Other than that, in large corporations, frankly, a lot of the contractors are gravy boat, lazy management, or short sighted.

In the defense industry, a lot of the contractors simply because the government contract to the company is cost plus…

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