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The strategy is, *drum roll,* get educated. Certain skillsets flourished amid the recession. Unemployment is low for the college educated.
For some of us who been living in SV long enough we know better not say..
"Unemployment is low for the college educated."
But regardless of all that... have a read!
Done!
2011 Jan 22, 4:40am
300K in my town with low interest rate 4.75 or so, would be a $1600 mortgage, plus the taxes on that would run about 400 to 500 a month and about 200 for Insurance. $2200 a month is a tall order, if you're in a industry that time leaves behind, and you have to reinvent your self.
HousingWatcher
2011 Jan 22, 7:49am
Unemployment is low for college educated people because it does not count all of the college graduates working in jobs that only require a HS diploma. In the 60 Minutes piece that ran about unemployment in SV a few months ago, it featured a fiber optics engineer worikng at Target for $9 an hour. There was another story about a lawyer working at Radio Shack for $8 an hour. Stories like these are very common.
The numbers also do not include recent college graduates who have yet to enter the workforce.
it featured a fiber optics engineer worikng at Target for $9 an hour. There was another story about a lawyer working at Radio Shack for $8 an hour. Stories like these are very common.
The guy at front desk of my auto shop is a former Seagate engineer. He was at Seagate for 20 years prior to that. People would be surprised what goes on in SV. Seen this so many times over....
it featured a fiber optics engineer worikng at Target for $9 an hour. There was another story about a lawyer working at Radio Shack for $8 an hour. Stories like these are very common.
The guy at front desk of my auto shop is a former Seagate engineer. He was at Seagate for 20 years prior to that. People would be surprised what goes on in SV. Seen this so many times over….
One of the sad thing about engineers is that the company doesn't need you any more after the technology is developed.
I was suprised that the lawyer has a tough time. Don't they do well when lots people go foreclosure or bankrupt?
Yea, I suppose I should not have mentioned college educated. Bernake croaked that line out. It's all about staying marketable.
I was suprised that the lawyer has a tough time. Don’t they do well when lots people go foreclosure or bankrupt?
When the number of local corporate clients shrink so does the need for lawyers and auditors(CPA). In both professions you need near perfect grades, passing the bar or cpa exam which is no cake walk, and lots of experience. So far we lost over 200 corporations since 2000 which had a ripple effect on other legal and financial services.
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there is no job security in US. Even if you feel confortable at your present job, you have to always to prepare for the worst- if you loose your
job.
we have the present economic situation. Is not great. Everything you read or hear you have to take with a grain of salt.
therefore, if anyone is contemplating buying a home in this year, only if you have enough downpayment, so that your loan monthly
payment is payable with one income (if you lucky to have dual income), and don't even think about following the lenders' guidelines of front/back end ratios.
To be safe, if you loose your job, make sure you have saved money to pay your monthly mortage for at least one year.
So the lower your mortgage payment, the safer you are.
Example of what I mean, in a good location (willow glen, campbell, fremont) I think 300K loan would be pretty safe ,
easy to make payments, and still have money left. That means, have a 300-400K as downpayment.
#housing