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powayseller
ParticipantJosh, I was thinking the same thing. When your neighbor loses his construction job or lending job or real estate attorney job, where will she/he go? This housing market bust is nationwide, and I am glad that people here are finally seeing it. SD is the worst, but it is natinowide, it is global.
powayseller
ParticipantPerry, please read my opening post. My question was about my own experience and a story I heard, and that’s why I asked if this was just an aberration, or if we have rising wages for illegals.
Second, hiring a cleaning crew just once doesn’t mean I have to pay taxes for them. I believe the rule applies if you pay someone more than a certain amount, or hire them regularly. Does everyone who hires a day laborer fill out a W-2?
Perry, rising costs don’t mean you can pass them along. Often you have to figure out how to lower your profit margins.
I still don’t have the answer to my question, which is: are illegals getting paid more now than they were last year or the year before?
Payroll surveys show that wages are flat, but how are the wages of illegal labor? Is it rising? Come one, how can a cleaning person charge as much as a technicians with a bachelors degree? What is driving that?
July 21, 2006 at 5:12 PM in reply to: President of MBARL Warns of Fraud in Stated Income Loans #29180powayseller
Participantpowayseller
ParticipantDaCounselor, downturns and bubble busts are always worse than anybody expects. That’s why I’m betting on a 50% price drop. We’ve already lost 10-15% on North County homes. According to Jim Klinge at bubbleinfo.com, North County homes are back at 2004 pricing. In the last cycle, the highest drops came in years 3-5, so the highest drops are yet to come. This time, the intensity will be greater due to exotic loans and our economy’s reliance on construction and real estate.
50% might be too optimistic. Maybe a 55% nominal drop will do it.
powayseller
ParticipantWouldn’t they have more luck selling by lowering the price?
Do you think we will see more owner carry types of offers?
July 21, 2006 at 3:36 PM in reply to: President of MBARL Warns of Fraud in Stated Income Loans #29167powayseller
ParticipantSteven, I found your post in the main page, sort of buried, and wanted to highlight it in the forums. Welcome to the forums. What does your company do? Could you tell us more about what you do, what you’re seeing out there? Also, if you know of anyone whose ARM is about to reset and cannot handle their new payment, would they consent to an interview with the LA Times? contact [email protected]
powayseller
ParticipantWhich countries can agree on one thing enough to make a world currency? Who is collaborating on it? Could you post a summary when you’re done reading it?
powayseller
ParticipantJosh, you can be harsh. The truth is, nobody likes a small p***.
powayseller
ParticipantYes I see. Scroll down to the bottom of the page to read people’s views about Amarillo. Some are:
Nothing special about this place. — 14 weeks ago
Not worth it!
Just another dirty little Texas town.
Why would you want to go? He left as soon as he could and doesn’t want to go back. There is really nothing there. If you are driving across country then you probably want to stop there because its the only city in between two huge stretches of highway. But really, there is nothing to see in Amarillo except driving through you can see Cadillac Ranch which is kinda neat.
Apr 08, 09:33PM PDT | 0 comments
FallingFaceUp
Lamoni
Just not impressed — 27 weeks agoNot worth it!
There are places I would have much rather been in Texas.
Jan 11, 12:58PM PST | 0 comments
powayseller
ParticipantI wish I could answer this. I have not traveled much, and have not read about history, cultures, or politics. I’m real one-dimensional.
powayseller
ParticipantNeither reply addresses whether we are seeing an upward shift in illegal/independent contractor/off the books worker wage demands.
I doubt the cleaning people file a W-2. If they did, I would have been given a receipt.
powayseller
ParticipantI had no idea that a La Jolla address carries such a price premium. Wow! You can get a beautiful Carmel Valley home for that price. Why get that old small La Jolla house for over a million? I don’t get it.
I think prices will go down 50% over the next 5 years. If history is any guide, years 3-5 will see the largest drops. We are in year 1 now, since the yoy median just turned negative.
Some landlords on this forum wrote that a gross rent multiplier of 8-10 should be used for rental property. So the property should cost less than 8 times annual rent. I expect we will return to that level.
Rents and housing prices have a fundamental support in wages.
powayseller
ParticipantThose who think the US is still a superpower, I disagree. At one time, we were the manufacturing capital, but now we are the world’s biggest debtor nation.
Our civilization will end someday, just as the others, and the dollar will no longer be the world reserve currency. Look at other reserve currencies, and how long they lasted. The last one to go away is the British pound.
Michael Sherman, in Scientific American, researched 60 civilizations, both ancient and modern. He found the average life span of each was 421 years. Modern civilizations have a life span of 305 years. These societies collapse because they ran out of resources, and their leaders did not plan for this.
One of the best-known examples of a collapsed society is Easter Island. They built great big statutes in honor of their chiefs, until they had cut down every tree and eliminated their food supply. Stupid, right?
But we also are short-sighted, because we are creating asset bubbles, consuming more than we produce, and are dependent for our survival on a resource that we must get from other countries: oil. Why do we not replace our short-sighted closed-minded leaders, since they are not making tough decisions today for our greater good tomorrow? They are not protecting us from the upcoming energy crisis, asset bubbles, underfunded social security and medicare, and all the other problems we discuss.
powayseller
ParticipantThank you for asking my opinion, it is an honor to be asked by you.
The thing that surprises me is that consumer spending is 70% of GDP. Is it that high in other countries?
During the Depression, people learned to be VERY frugal. The difficult times caused a new way of looking at lifestyle and what is important in life. Will this next recession be big enough to cause a cultural shift?
What do you think VCJIM? Why are your values so different from the majority?
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