[UCGal]

I would disagree with the military not buying houses. I live near Miramar – there are a LOT of homes owned (not rented) by officers in my ‘hood. I can think of 4 families within one block.

does it make financial sense for them… that’s a whole ‘nuther thing. The transaction costs of buying/selling every few years must be a killer… But military folks are buying.

And it’s not just my ‘hood. I have coworkers who are retired military, married to active duty military who own homes.

On a related point to your point… if seniors/retired folks have such low income, how are they going to pay their mortgages… The trend is to serially refi at 30 years… I know so many people that will have significant mortgage payments well into retirement. Either they know their retirement income (401k, SS, if they’re lucky – pension) will be large enough – or they are screwed.

[UCGal]

I would disagree with the military not buying houses. I live near Miramar – there are a LOT of homes owned (not rented) by officers in my ‘hood. I can think of 4 families within one block.

does it make financial sense for them… that’s a whole ‘nuther thing. The transaction costs of buying/selling every few years must be a killer… But military folks are buying.

And it’s not just my ‘hood. I have coworkers who are retired military, married to active duty military who own homes.

On a related point to your point… if seniors/retired folks have such low income, how are they going to pay their mortgages… The trend is to serially refi at 30 years… I know so many people that will have significant mortgage payments well into retirement. Either they know their retirement income (401k, SS, if they’re lucky – pension) will be large enough – or they are screwed.

[UCGal]

I would disagree with the military not buying houses. I live near Miramar – there are a LOT of homes owned (not rented) by officers in my ‘hood. I can think of 4 families within one block.

does it make financial sense for them… that’s a whole ‘nuther thing. The transaction costs of buying/selling every few years must be a killer… But military folks are buying.

And it’s not just my ‘hood. I have coworkers who are retired military, married to active duty military who own homes.

On a related point to your point… if seniors/retired folks have such low income, how are they going to pay their mortgages… The trend is to serially refi at 30 years… I know so many people that will have significant mortgage payments well into retirement. Either they know their retirement income (401k, SS, if they’re lucky – pension) will be large enough – or they are screwed.

[UCGal]

[quote=AN][quote=UCGal][quote=AN]If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.[/quote]

I would assume some of the salary gain was due to promotions and generally having more experience over time. Typically new grads make less than folks with experience. Yet the typical median house probably remains about the same house…[/quote]
I’m comparing fresh grad salary from 1988 to 2002 to 2009.[/quote]
Gotcha. Sorry.

[UCGal]

[quote=AN][quote=UCGal][quote=AN]If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.[/quote]

I would assume some of the salary gain was due to promotions and generally having more experience over time. Typically new grads make less than folks with experience. Yet the typical median house probably remains about the same house…[/quote]
I’m comparing fresh grad salary from 1988 to 2002 to 2009.[/quote]
Gotcha. Sorry.

[UCGal]

[quote=AN][quote=UCGal][quote=AN]If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.[/quote]

I would assume some of the salary gain was due to promotions and generally having more experience over time. Typically new grads make less than folks with experience. Yet the typical median house probably remains about the same house…[/quote]
I’m comparing fresh grad salary from 1988 to 2002 to 2009.[/quote]
Gotcha. Sorry.

[UCGal]

[quote=AN][quote=UCGal][quote=AN]If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.[/quote]

I would assume some of the salary gain was due to promotions and generally having more experience over time. Typically new grads make less than folks with experience. Yet the typical median house probably remains about the same house…[/quote]
I’m comparing fresh grad salary from 1988 to 2002 to 2009.[/quote]
Gotcha. Sorry.

[UCGal]

[quote=AN][quote=UCGal][quote=AN]If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.[/quote]

I would assume some of the salary gain was due to promotions and generally having more experience over time. Typically new grads make less than folks with experience. Yet the typical median house probably remains about the same house…[/quote]
I’m comparing fresh grad salary from 1988 to 2002 to 2009.[/quote]
Gotcha. Sorry.

[UCGal]

[quote=AN]If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.[/quote]

I would assume some of the salary gain was due to promotions and generally having more experience over time. Typically new grads make less than folks with experience. Yet the typical median house probably remains about the same house…

[UCGal]

[quote=AN]If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.[/quote]

I would assume some of the salary gain was due to promotions and generally having more experience over time. Typically new grads make less than folks with experience. Yet the typical median house probably remains about the same house…

[UCGal]

[quote=AN]If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.[/quote]

I would assume some of the salary gain was due to promotions and generally having more experience over time. Typically new grads make less than folks with experience. Yet the typical median house probably remains about the same house…

[UCGal]

[quote=AN]If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.[/quote]

I would assume some of the salary gain was due to promotions and generally having more experience over time. Typically new grads make less than folks with experience. Yet the typical median house probably remains about the same house…

[UCGal]

[quote=AN]If you think 2000-2008 # might be skewed, I know someone who graduated in 1988 as an engineer. He told me fresh grad back then made around 25-30k/yr. Median home price in 1988 was $153,410. So median home price went up 99% over 21 years. Salary for a fresh grad engineer went up between 115%-120%. So, over 21 years, median house price traced fresh grad engineer salary pretty well. I don’t know about other profession, so this might not apply so well.[/quote]

I would assume some of the salary gain was due to promotions and generally having more experience over time. Typically new grads make less than folks with experience. Yet the typical median house probably remains about the same house…

[UCGal]

What an interesting turn this thread has taken.

I agree with the statement that women (and men) can’t have it “all”.

There are tradeoffs for everyone – power career vs time with the family. If you have the high power career, the high income, you typically have a lot more time at the office, or chained to the office via your cell/laptop.

I work in a technical field and was well aware that if I took a break from my career when I had my boys, I’d have a harder time getting back in the marketplace at the same level. Technology advances and the perception of being behind the times, technically, is an interview killer.

That may be less true for non engineering positions. My husband has seen women, in architecture, successfully put their career on hold, then re-enter when they’re ready.

My compromise, I cut my hours to 60% for the first year, then 80% of full time after that. My husband did the same thing. This allowed us to only need childcare 2 days/week when they were babies.

Maybe because we were older parents, our professional reputations were well established and our employers were willing to keep us on a part time basis. If we were new in the job force, that would not have been the case.

We gave up some career advancement opportunities… I was told, explicitly, by a former boss that I would never get a promotion while working part time. (I transfered to a different group and got the promotion.)

If you want the power job, and the salary that goes with it… you’ll spend less time with your kids… regardless of your gender. Most power jobs require very long hours… more than the nominal 40 hour work week.

We chose to not have it all. We live in an older house that is not in Carmel Valley. We don’t drive BMWs. We dress our kids in Target brand stuff rather than designer labels. I’m fine not having it all but still having a job I enjoy and also having time with my kids.

It doesn’t have to be either/or. But compromises have to be made.

[UCGal]

What an interesting turn this thread has taken.

I agree with the statement that women (and men) can’t have it “all”.

There are tradeoffs for everyone – power career vs time with the family. If you have the high power career, the high income, you typically have a lot more time at the office, or chained to the office via your cell/laptop.

I work in a technical field and was well aware that if I took a break from my career when I had my boys, I’d have a harder time getting back in the marketplace at the same level. Technology advances and the perception of being behind the times, technically, is an interview killer.

That may be less true for non engineering positions. My husband has seen women, in architecture, successfully put their career on hold, then re-enter when they’re ready.

My compromise, I cut my hours to 60% for the first year, then 80% of full time after that. My husband did the same thing. This allowed us to only need childcare 2 days/week when they were babies.

Maybe because we were older parents, our professional reputations were well established and our employers were willing to keep us on a part time basis. If we were new in the job force, that would not have been the case.

We gave up some career advancement opportunities… I was told, explicitly, by a former boss that I would never get a promotion while working part time. (I transfered to a different group and got the promotion.)

If you want the power job, and the salary that goes with it… you’ll spend less time with your kids… regardless of your gender. Most power jobs require very long hours… more than the nominal 40 hour work week.

We chose to not have it all. We live in an older house that is not in Carmel Valley. We don’t drive BMWs. We dress our kids in Target brand stuff rather than designer labels. I’m fine not having it all but still having a job I enjoy and also having time with my kids.

It doesn’t have to be either/or. But compromises have to be made.

[Author]

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