[sdcellar]

Okay, how about we end this “argument” and try to simplify things a bit. Rt.66, do you think it’s out of the question that some homeowners will give themselves their own form of debt relief simply by ignoring their second for some period of time?

Maybe their credit will take a hit. Maybe they’ll have this nasty debt liability they’ll have to take care of some number of years down the road. Maybe a lot of things, but they’ll get to “keep” their house, keep junior in the same school and maybe down the road when “life is better” they (believe) they’ll be able to get things back in order.

Does this seem like a reasonable premise to you? There is one solid argument that I can think of and another one that’s hedgey, but not interesting. Anyway, what do you think?

[sdcellar]

[quote=sdrealtor]JP
The unemployment news of major employers is headline news and easy to find. The signs of employment will always be harder to see as they are found in the entrepreneurial start ups in small office parks throughout the region.[/quote]Agreed, but the startup space still seems pretty rough at the moment. I only know of the VCs that I know of, but that particular group still seems pretty beholden to the now one-year old Sequoia Capital Death Spiral slideshow. From what I hear, many are making another pass through their portfolio companies looking for addtional “efficiencies”.

VCs aren’t the only source of funding for startups, of course, but they do provide the larger pools, and funding equals jobs. Plenty of folks might be bootstrapping their own companies and it even probably more prevalent right now, but that requires a longer cycle to provide much in the way of job creation.

[sdcellar]

[quote=sdrealtor]JP
The unemployment news of major employers is headline news and easy to find. The signs of employment will always be harder to see as they are found in the entrepreneurial start ups in small office parks throughout the region.[/quote]Agreed, but the startup space still seems pretty rough at the moment. I only know of the VCs that I know of, but that particular group still seems pretty beholden to the now one-year old Sequoia Capital Death Spiral slideshow. From what I hear, many are making another pass through their portfolio companies looking for addtional “efficiencies”.

VCs aren’t the only source of funding for startups, of course, but they do provide the larger pools, and funding equals jobs. Plenty of folks might be bootstrapping their own companies and it even probably more prevalent right now, but that requires a longer cycle to provide much in the way of job creation.

[sdcellar]

[quote=sdrealtor]JP
The unemployment news of major employers is headline news and easy to find. The signs of employment will always be harder to see as they are found in the entrepreneurial start ups in small office parks throughout the region.[/quote]Agreed, but the startup space still seems pretty rough at the moment. I only know of the VCs that I know of, but that particular group still seems pretty beholden to the now one-year old Sequoia Capital Death Spiral slideshow. From what I hear, many are making another pass through their portfolio companies looking for addtional “efficiencies”.

VCs aren’t the only source of funding for startups, of course, but they do provide the larger pools, and funding equals jobs. Plenty of folks might be bootstrapping their own companies and it even probably more prevalent right now, but that requires a longer cycle to provide much in the way of job creation.

[sdcellar]

[quote=sdrealtor]JP
The unemployment news of major employers is headline news and easy to find. The signs of employment will always be harder to see as they are found in the entrepreneurial start ups in small office parks throughout the region.[/quote]Agreed, but the startup space still seems pretty rough at the moment. I only know of the VCs that I know of, but that particular group still seems pretty beholden to the now one-year old Sequoia Capital Death Spiral slideshow. From what I hear, many are making another pass through their portfolio companies looking for addtional “efficiencies”.

VCs aren’t the only source of funding for startups, of course, but they do provide the larger pools, and funding equals jobs. Plenty of folks might be bootstrapping their own companies and it even probably more prevalent right now, but that requires a longer cycle to provide much in the way of job creation.

[sdcellar]

[quote=sdrealtor]JP
The unemployment news of major employers is headline news and easy to find. The signs of employment will always be harder to see as they are found in the entrepreneurial start ups in small office parks throughout the region.[/quote]Agreed, but the startup space still seems pretty rough at the moment. I only know of the VCs that I know of, but that particular group still seems pretty beholden to the now one-year old Sequoia Capital Death Spiral slideshow. From what I hear, many are making another pass through their portfolio companies looking for addtional “efficiencies”.

VCs aren’t the only source of funding for startups, of course, but they do provide the larger pools, and funding equals jobs. Plenty of folks might be bootstrapping their own companies and it even probably more prevalent right now, but that requires a longer cycle to provide much in the way of job creation.

[sdcellar]

It’s certainly not unheard of for debt to be settled at ten cents on the dollar, so to suggest that such a thing is ludicrous is, well, ludicrous.

Not saying that it’s easy or happens all the time, and I certainly have no idea how often it’s applied to mortgage debt, but it does happen in general.

More importantly, I don’t think every single last underwater homeowner is as eager to walk away from their home you might think.

[sdcellar]

It’s certainly not unheard of for debt to be settled at ten cents on the dollar, so to suggest that such a thing is ludicrous is, well, ludicrous.

Not saying that it’s easy or happens all the time, and I certainly have no idea how often it’s applied to mortgage debt, but it does happen in general.

More importantly, I don’t think every single last underwater homeowner is as eager to walk away from their home you might think.

[sdcellar]

It’s certainly not unheard of for debt to be settled at ten cents on the dollar, so to suggest that such a thing is ludicrous is, well, ludicrous.

Not saying that it’s easy or happens all the time, and I certainly have no idea how often it’s applied to mortgage debt, but it does happen in general.

More importantly, I don’t think every single last underwater homeowner is as eager to walk away from their home you might think.

[sdcellar]

It’s certainly not unheard of for debt to be settled at ten cents on the dollar, so to suggest that such a thing is ludicrous is, well, ludicrous.

Not saying that it’s easy or happens all the time, and I certainly have no idea how often it’s applied to mortgage debt, but it does happen in general.

More importantly, I don’t think every single last underwater homeowner is as eager to walk away from their home you might think.

[sdcellar]

It’s certainly not unheard of for debt to be settled at ten cents on the dollar, so to suggest that such a thing is ludicrous is, well, ludicrous.

Not saying that it’s easy or happens all the time, and I certainly have no idea how often it’s applied to mortgage debt, but it does happen in general.

More importantly, I don’t think every single last underwater homeowner is as eager to walk away from their home you might think.

[sdcellar]

Yeah, I don’t know where this notion of job loss only (or even primarily) hitting the blue-collar comes from either. I talk to technical recruiters all the time and if anybody’s got their pulse on the San Diego job market, you think it might just be them. They tell me it’s bad out there.

Agree also, jp, that the real issue is job creation. There’s no question that positions are being eliminated. The question that remains is when the positions will come back.

[sdcellar]

Yeah, I don’t know where this notion of job loss only (or even primarily) hitting the blue-collar comes from either. I talk to technical recruiters all the time and if anybody’s got their pulse on the San Diego job market, you think it might just be them. They tell me it’s bad out there.

Agree also, jp, that the real issue is job creation. There’s no question that positions are being eliminated. The question that remains is when the positions will come back.

[sdcellar]

Yeah, I don’t know where this notion of job loss only (or even primarily) hitting the blue-collar comes from either. I talk to technical recruiters all the time and if anybody’s got their pulse on the San Diego job market, you think it might just be them. They tell me it’s bad out there.

Agree also, jp, that the real issue is job creation. There’s no question that positions are being eliminated. The question that remains is when the positions will come back.

[sdcellar]

Yeah, I don’t know where this notion of job loss only (or even primarily) hitting the blue-collar comes from either. I talk to technical recruiters all the time and if anybody’s got their pulse on the San Diego job market, you think it might just be them. They tell me it’s bad out there.

Agree also, jp, that the real issue is job creation. There’s no question that positions are being eliminated. The question that remains is when the positions will come back.

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