[UCGal]

That isn’t downtown – if your subject line has the address right – it’s FAR east of downtown – Euclid Ave area – just barely north of the 94 freeway.

I’d need more details to know if it’s a good investment. I didn’t see any of the units in 5030 A in the MLS accept for a short sale that was contingent.

It looks like these are converted apartments. The HOAs are over $200/month, so that needs to figure into the calcs.

[UCGal]

That isn’t downtown – if your subject line has the address right – it’s FAR east of downtown – Euclid Ave area – just barely north of the 94 freeway.

I’d need more details to know if it’s a good investment. I didn’t see any of the units in 5030 A in the MLS accept for a short sale that was contingent.

It looks like these are converted apartments. The HOAs are over $200/month, so that needs to figure into the calcs.

[UCGal]

That isn’t downtown – if your subject line has the address right – it’s FAR east of downtown – Euclid Ave area – just barely north of the 94 freeway.

I’d need more details to know if it’s a good investment. I didn’t see any of the units in 5030 A in the MLS accept for a short sale that was contingent.

It looks like these are converted apartments. The HOAs are over $200/month, so that needs to figure into the calcs.

[UCGal]

I can add my anectdotal, personal data.
I work for a large employer as an engineer and have for quite a while. I graduated well before 2000 – so my salary has plateaued. The days of 4.5% increases each year haven’t been seen since the early 2000’s at my employer. Even with promotions my coworkers and I are falling behind.

2009 increase 0% (corporation wide frozen salary)
2008 increase 2%
2007 increase 3%
2006 increase 2%
2005 increase 0% (changed a policy that slammed the California based workers)
2005 increase 2%
2003 increase 4.5%
2002 increase 4.6%
2001 increase 3.5%

I get very good performance reviews, before someone snarks that I must be a slacker.

If you factor in how much our bonuses have been hit – it’s even worse. We (my coworkers and I) are falling behind.

Then factor in the fact that they cut our 401k match to zero earlier this year… That’s a 3% paycut this year.

Wage deflation is real. But it could be worse. My husband is an architect and he’s only working part time due to lack of work. That’s REAL wage deflation. (He’s part of that mythical U6 number- underemployed.)

[UCGal]

I can add my anectdotal, personal data.
I work for a large employer as an engineer and have for quite a while. I graduated well before 2000 – so my salary has plateaued. The days of 4.5% increases each year haven’t been seen since the early 2000’s at my employer. Even with promotions my coworkers and I are falling behind.

2009 increase 0% (corporation wide frozen salary)
2008 increase 2%
2007 increase 3%
2006 increase 2%
2005 increase 0% (changed a policy that slammed the California based workers)
2005 increase 2%
2003 increase 4.5%
2002 increase 4.6%
2001 increase 3.5%

I get very good performance reviews, before someone snarks that I must be a slacker.

If you factor in how much our bonuses have been hit – it’s even worse. We (my coworkers and I) are falling behind.

Then factor in the fact that they cut our 401k match to zero earlier this year… That’s a 3% paycut this year.

Wage deflation is real. But it could be worse. My husband is an architect and he’s only working part time due to lack of work. That’s REAL wage deflation. (He’s part of that mythical U6 number- underemployed.)

[UCGal]

I can add my anectdotal, personal data.
I work for a large employer as an engineer and have for quite a while. I graduated well before 2000 – so my salary has plateaued. The days of 4.5% increases each year haven’t been seen since the early 2000’s at my employer. Even with promotions my coworkers and I are falling behind.

2009 increase 0% (corporation wide frozen salary)
2008 increase 2%
2007 increase 3%
2006 increase 2%
2005 increase 0% (changed a policy that slammed the California based workers)
2005 increase 2%
2003 increase 4.5%
2002 increase 4.6%
2001 increase 3.5%

I get very good performance reviews, before someone snarks that I must be a slacker.

If you factor in how much our bonuses have been hit – it’s even worse. We (my coworkers and I) are falling behind.

Then factor in the fact that they cut our 401k match to zero earlier this year… That’s a 3% paycut this year.

Wage deflation is real. But it could be worse. My husband is an architect and he’s only working part time due to lack of work. That’s REAL wage deflation. (He’s part of that mythical U6 number- underemployed.)

[UCGal]

I can add my anectdotal, personal data.
I work for a large employer as an engineer and have for quite a while. I graduated well before 2000 – so my salary has plateaued. The days of 4.5% increases each year haven’t been seen since the early 2000’s at my employer. Even with promotions my coworkers and I are falling behind.

2009 increase 0% (corporation wide frozen salary)
2008 increase 2%
2007 increase 3%
2006 increase 2%
2005 increase 0% (changed a policy that slammed the California based workers)
2005 increase 2%
2003 increase 4.5%
2002 increase 4.6%
2001 increase 3.5%

I get very good performance reviews, before someone snarks that I must be a slacker.

If you factor in how much our bonuses have been hit – it’s even worse. We (my coworkers and I) are falling behind.

Then factor in the fact that they cut our 401k match to zero earlier this year… That’s a 3% paycut this year.

Wage deflation is real. But it could be worse. My husband is an architect and he’s only working part time due to lack of work. That’s REAL wage deflation. (He’s part of that mythical U6 number- underemployed.)

[UCGal]

I can add my anectdotal, personal data.
I work for a large employer as an engineer and have for quite a while. I graduated well before 2000 – so my salary has plateaued. The days of 4.5% increases each year haven’t been seen since the early 2000’s at my employer. Even with promotions my coworkers and I are falling behind.

2009 increase 0% (corporation wide frozen salary)
2008 increase 2%
2007 increase 3%
2006 increase 2%
2005 increase 0% (changed a policy that slammed the California based workers)
2005 increase 2%
2003 increase 4.5%
2002 increase 4.6%
2001 increase 3.5%

I get very good performance reviews, before someone snarks that I must be a slacker.

If you factor in how much our bonuses have been hit – it’s even worse. We (my coworkers and I) are falling behind.

Then factor in the fact that they cut our 401k match to zero earlier this year… That’s a 3% paycut this year.

Wage deflation is real. But it could be worse. My husband is an architect and he’s only working part time due to lack of work. That’s REAL wage deflation. (He’s part of that mythical U6 number- underemployed.)

[UCGal]

[quote=Zeitgeist]That is a growth industry and should be reason enough to buy land there for future investment.[/quote]

Private prisons are a growth industry, I agree. I have family that live in Florence AZ – home to a state prison, a county lockup, an INS facility (aka prison), and at least one CCA facility. This is a small town that found their economic niche.

(And yes 1 cousin is a corrections officer and another used to be a social worker in the the prison system.)

Hey – for that matter, why not move to Florence – you can pick up a 2007 home for well under $100k.
http://www.homes.com/listing/91331243/6775_E_Flynn_Ave_FLORENCE_AZ_85232

And, hey, they put in the super Walmart over in Coolidge – so it’s not the boonies anymore.

[UCGal]

[quote=Zeitgeist]That is a growth industry and should be reason enough to buy land there for future investment.[/quote]

Private prisons are a growth industry, I agree. I have family that live in Florence AZ – home to a state prison, a county lockup, an INS facility (aka prison), and at least one CCA facility. This is a small town that found their economic niche.

(And yes 1 cousin is a corrections officer and another used to be a social worker in the the prison system.)

Hey – for that matter, why not move to Florence – you can pick up a 2007 home for well under $100k.
http://www.homes.com/listing/91331243/6775_E_Flynn_Ave_FLORENCE_AZ_85232

And, hey, they put in the super Walmart over in Coolidge – so it’s not the boonies anymore.

[UCGal]

[quote=Zeitgeist]That is a growth industry and should be reason enough to buy land there for future investment.[/quote]

Private prisons are a growth industry, I agree. I have family that live in Florence AZ – home to a state prison, a county lockup, an INS facility (aka prison), and at least one CCA facility. This is a small town that found their economic niche.

(And yes 1 cousin is a corrections officer and another used to be a social worker in the the prison system.)

Hey – for that matter, why not move to Florence – you can pick up a 2007 home for well under $100k.
http://www.homes.com/listing/91331243/6775_E_Flynn_Ave_FLORENCE_AZ_85232

And, hey, they put in the super Walmart over in Coolidge – so it’s not the boonies anymore.

[UCGal]

[quote=Zeitgeist]That is a growth industry and should be reason enough to buy land there for future investment.[/quote]

Private prisons are a growth industry, I agree. I have family that live in Florence AZ – home to a state prison, a county lockup, an INS facility (aka prison), and at least one CCA facility. This is a small town that found their economic niche.

(And yes 1 cousin is a corrections officer and another used to be a social worker in the the prison system.)

Hey – for that matter, why not move to Florence – you can pick up a 2007 home for well under $100k.
http://www.homes.com/listing/91331243/6775_E_Flynn_Ave_FLORENCE_AZ_85232

And, hey, they put in the super Walmart over in Coolidge – so it’s not the boonies anymore.

[UCGal]

[quote=Zeitgeist]That is a growth industry and should be reason enough to buy land there for future investment.[/quote]

Private prisons are a growth industry, I agree. I have family that live in Florence AZ – home to a state prison, a county lockup, an INS facility (aka prison), and at least one CCA facility. This is a small town that found their economic niche.

(And yes 1 cousin is a corrections officer and another used to be a social worker in the the prison system.)

Hey – for that matter, why not move to Florence – you can pick up a 2007 home for well under $100k.
http://www.homes.com/listing/91331243/6775_E_Flynn_Ave_FLORENCE_AZ_85232

And, hey, they put in the super Walmart over in Coolidge – so it’s not the boonies anymore.

[UCGal]

To sum up what they are saying:

– First time home buyers might be able to *buy* a house, but they can’t afford to *keep* the house. Especially if the ARM adjusts, there are taxes/HOAs not accounted for in the calcs, and they have an unexpected bill that puts the 40% threshold to close to the edge.

.. Heaven forbid they have normal things happen, like unpaid maternity leave, a car break down, etc…

[UCGal]

To sum up what they are saying:

– First time home buyers might be able to *buy* a house, but they can’t afford to *keep* the house. Especially if the ARM adjusts, there are taxes/HOAs not accounted for in the calcs, and they have an unexpected bill that puts the 40% threshold to close to the edge.

.. Heaven forbid they have normal things happen, like unpaid maternity leave, a car break down, etc…

[Author]

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