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an
an
12 years ago
Reply to  Rich Toscano

Rich, what kind of name
Rich, what kind of name calling did you get around 2004-2005 by the permabulls?

poorgradstudent
12 years ago

Rich, I’m pretty stunned that
Rich, I’m pretty stunned that you get hate mail, considering your approach is generally just to post data and let it speak for itself. From my own job search (Biotech industry) and knowing what my wife’s company (Tech sector) is doing I can anecdotally say things are definitely improving in non-bubble sectors. Plus, is it really that controversial to say employment is significantly better than it was this time a year ago? Things were TERRIBLE a year ago and still aren’t amazing, but it really has gone from “there are no jobs” to “there are a few jobs and quite a bit of competition”.

CricketOnTheHearth
12 years ago

General Atomics’ UAV division
General Atomics’ UAV division (based in Poway) just had a job fair this Friday/Saturday and I have been hearing anecdotally from acquaintances there for months that they are hiring like mad. (As a matter of fact, they have been hiring like mad for years.)

That said, I had trepidations about throwing my lot in with them as the governments (of various countries, now) are their main customers and we all know how financially sound the government is 😛
As pointed out by a coworker who is a Navy veteran, if the contract gets pulled, beaucoup people land on the street.

On a different topic, I do feel that 6X/7X annual pay for the price of a dwelling is excessive; it is far beyond the recommended 3X annual pay and I frankly don’t see how a homeloaner can reasonably carry that unless they take a magic mortgage or receive an inheritance that allows them to put 80% down. So 6X/7X annual pay may be the historical average for San Diego house prices, but I disagree with you that it is “reasonable” (if I have undersood your previous comments about “reasonableness” aright).

an
an
12 years ago
Reply to  Rich Toscano

Rich, I’m not sure if Cricket
Rich, I’m not sure if Cricket is comparing apples and oranges. I did a quick run of the ratio of median home price vs median income for a few zip code and I noticed that as the area gets more expensive, the higher the ratio become. Here are a few examples:
92126: $345,000/$87,569 = 3.9x
92129: $492,500/$96,208 = 5.1x
92130: $738,000/$99,315 = 7.4x
92067: $1,718,500/$202,688 = 8.5x

The only logical explanation I can think of is, the more expensive the area, the more $ buyer have as a down payment.

an
an
12 years ago
Reply to  Rich Toscano

Rich Toscano wrote:[
Of

[quote=Rich Toscano][
Of course that would be the case… but that doesn’t mean that its valid to compare the following two numbers:

1. countywide median home price / countywide PER PERSON (including renters and retirees) income

2. the house you buy / YOUR HOUSEHOLD income

They are just two totally different numbers, and the correlation between neighborhood income and expensiveness doesn’t change that fact one bit.

I would add that platitudes about 3x your income are complete generalizations anyway… clearly that will vary from market to market and clearly SD will be higher than average. But it doesn’t matter, because trying to compare the above two ratios is completely invalid.[/quote]
Rereading your post, I totally agree. Everyone have a choice to be conservative or liberal with their expenditure on their dwelling.

Anonymous
Anonymous
12 years ago

I can personally attest that
I can personally attest that Rich has once worked for an honest living (back when we worked together at HP in RB). He was a good enough programmer, although I do appreciate his current work better. Keep up the good work.