patrick.net

staynumz says

Philistine says
This gets my vote as the voice of reason here. Get out of CA. It is a dead state, morally and financially.

LOL 'morally'. yes, financially, CA is in a terrible situation. Lots of states are, CA just happens to be one of the worst. It just amuses me that someone would have the gall to say a place is dead 'morally'. Where the f#@k do you live that's so morally superior?

rmm221 says

All of this is a moot point now…
My fiance just lost her job.. aka was fired for very shady reasons along with a handful of other employees. Basically the company after a round of layoffs earlier in the year… Is now setting up people to be fired for unethical reasons so they don’t have to pay unemployment. So now she’s going to have to fight to even get unemployment and we might have to get married at a courthouse so she can get on my health insurance.
We’ll be fine financially because we have a lot saved…But i feel for one of the employees who has two kids and a stay at home wife to support… I’m the main bread-winner making up 2/3 of our total income.. So even if she finds a low-paying job.. all her money will go into savings.
It’s so weird that we were thinking of stretching both our incomes to buy a $529K home last week… And she loses her job the next week. Like it was a sign not to buy…
Just wish the “sign” included unemployment benefits…

Did you realize that a 529K house with no down would run you about 4500/mo?

House Rich, Cash poor...

staynumz says

4X says

Not if Congress keeps giving out tax credits.
I remember when the bailouts were given out to the banking industry there was major outcry as to why no help was given to the homeowners. Now that the help is here, those of us on these threads still continue to cry foul. Including me. My wife told me the other day that if we were home owners i wouldnt be so much against the tax credits….and you know what, she is right!

Did owebama sign the tax credit?

Bush would of signed off on the tax credit too if he were up for another term, why do you think he did nothing as the economy faltered?

staynumz says

Philistine says

We are in the same boat . . . high combined income and yet still renting in H’wood, waiting for prices to get real. They may never. They say the Bay Area is “special,”; apparently, so is much of westside LA. Prices are no different compared to last year, at least where we are looking which is West H’wood/Miracle Mile/Hancock Park area. Possibly Los Feliz.
Not sure I would move to the Valley. That is where LA-area housing is going to decline the most outside of the Inland Empire (and, really, who wants to live there??).
Both of us are on the verge of losing our jobs; our companies are still trying to lay off people. I don’t get how unemployment is so high in LA and a house in a not-terrible neighborhood here is still $1.5mill. Stoopid.
We are disgusted at this point. We have saved $80k downpayment from waiting so long and are ready to just go back to Florida, pay cash for a house, and retire early. I could just clerk at the gas station to pay taxes and the light bill, and opt out of this game altogether

This gets my vote as the voice of reason here. Get out of CA. It is a dead state, morally and financially.

I have been telling my wife that the pacific northwest or atlanta would be a beautiful place to live, its green, its lush and you can have peace of mind with not having to deal with traffic. But, she wants to stick around for her mom.

4X says

rmm221 says
Did you realize that a 529K house with no down would run you about 4500/mo?
House Rich, Cash poor…

yikes, what kind of math are you using? a $529k home w/ 20% down @ 5.25 would cost about $2400/month. Add monthly property tax of $550/month. (and keep in mind that's not even including the mortgage interest tax writeoff) Where are you getting the extra $1500 from? I would hope routine maintenance wouldn't be that much, otherwise that's one hell of a dog of a house to buy....

oh and btw sorry to the OP about your wife losing her job. that sucks.

rmm221,

So sorry about the turn of events. I hope things work out for you guys. The good news is that you didn't get yourselves into debt that you can't handle. I hope that's at least a bright side for you.

Sorry for the bad news OP. That is why I am with Patrick on debt free way of living life. I feel like I may be the renter all my life because CA real estate in Orange county is just too expensive.

I'm so sorry about your fiance's job loss. I wish you the very best - and you can still have a nice wedding on a budget (not withstanding the bathroom attendant in shoebox joke, which was obviously targeted toward people telling you how to live your life).

Someone told me yesterday that things seem to fall into place for the better, you just have to look at it in the correct light.

Evan F. says

4X says

rmm221 says
Did you realize that a 529K house with no down would run you about 4500/mo?
House Rich, Cash poor…

yikes, what kind of math are you using? a $529k home w/ 20% down @ 5.25 would cost about $2400/month. Add monthly property tax of $550/month. (and keep in mind that’s not even including the mortgage interest tax writeoff) Where are you getting the extra $1500 from? I would hope routine maintenance wouldn’t be that much, otherwise that’s one hell of a dog of a house to buy….
oh and btw sorry to the OP about your wife losing her job. that sucks.

Ok, overestimated. I estimate about $750 for every 100K borrowed....which would lead us to 3750/mo for 500k borrowed.

rmm221 says

All of this is a moot point now…
My fiance just lost her job.. aka was fired for very shady reasons along with a handful of other employees. Basically the company after a round of layoffs earlier in the year… Is now setting up people to be fired for unethical reasons so they don’t have to pay unemployment. So now she’s going to have to fight to even get unemployment and we might have to get married at a courthouse so she can get on my health insurance.
We’ll be fine financially because we have a lot saved…But i feel for one of the employees who has two kids and a stay at home wife to support… I’m the main bread-winner making up 2/3 of our total income.. So even if she finds a low-paying job.. all her money will go into savings.
It’s so weird that we were thinking of stretching both our incomes to buy a $529K home last week… And she loses her job the next week. Like it was a sign not to buy…
Just wish the “sign” included unemployment benefits…

I don't think it's weird at all, fate intervened. You could not afford a half million dollar house even with her income. You will look back on this and see it was a blessing.

Sorry about the firing though, I was there once many, many years ago. Sucks working for a company that's plays those games. Getting out of that place was actually the best thing that happened to my career!

Now a true conservative wouldnt even think of applying for unemployment...try not mentioning your wifes plans to take up social assistance from the taxpayers to BAP, TENOUNCETROUT less you want to get in a scuffle.

Just a little humor from a progressive.

4X says

Now a true conservative wouldnt even think of applying for unemployment…try not mentioning your wifes plans to take up social assistance from the taxpayers to BAP, TENOUNCETROUT less you want to get in a scuffle.
Just a little humor from a progressive.

I believe that he's stated that his gf can't get unemployment because they fired her. I could be wrong, I've been wrong before.

Thanks to everyone for the kind words! She's a Smart, talented, and beautiful woman inside and out... Im actually glad she's out of such a toxic work environment... Its just been a stressful few days since they are abruptly ending her health coverage also and she feels helpless dealing with the stigma of a firing when applying for jobs in this economy...

The economy is a bitch right now, but I think future employers will have some compassion. Especially if that employer is well known in the community. The insurance thing is scary, and I won't pull out my soapbox (you're welcome). But she needs to get more insurance within 63 days or risk having a pre-existing condition that will affect her for years to come.

Yet another reason to untether health insurance from jobs. Now they're getting married (possibly very very quickly) to make sure she's covered...

4X, why not take whats being offered eh? They keep extending benefits and CA will be taking what, 10% more out of his income for the next few months too.