Supercharged
Az.
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Joined: 01/01/2005
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AO_hitech wrote:Supercharged wrote:If you don't put down 20% then it is my 20% that is up along with other tax payers. That would make you a free loader.
I guess that makes 95+% of us (in this area) freeloaders. I guess it's a good thing you are there for them. Thanks, they'd never buy a house without you. First of all it isn't 95%, second there is no reason one can't live in a apartment or with family and save the money to make a down payment on house.Third maybe you live in a area that is way above your heads price wise. Move to a area where homes are affordable and live you life there. It I had a stump in my field, I think I would choose to plow around it.
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Skid Row Joe
On the road in America
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Joined: 04/26/2006
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There'll always be complainers/experts on the economy out there. Especially ones that know nothing about stock markets. As far as I'm noticing, the time they complain about hard times here, they could be earning money somewhere. Ironies of ironies..... LOL!
I have a sweet tender nature, however I enjoy sharing my thoughts and opinions.
Fulltiming RVer & homeowner.
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AO_hitech
SF Bay Area
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Joined: 08/09/2004
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Supercharged wrote:First of all it isn't 95%, second there is no reason one can't live in a apartment or with family and save the money to get into a house.Third maybe you live in a area that is way above your heads price wise. Move to a area where homes are affordable and live you life there. It I had a stump in the field I think I would choose to plow around it.
You are living in a dream world. I'm going to pack up my three kids, wife and move in with Mom and Dad. Yeah, that's going to happen. Move into an apartment, why? It's isn't going to save me enough to purchase a house, not in my lifetime. Move, sure thing. Up root the kids and move to somewhere where I can't find work, sure thing. That'll work.
Those that can easily put 20% down are lucky, and possibly very good/lucky at finances. I'm sure they all think they are just good, but there was more luck that they are willing to admit.
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Supercharged
Az.
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Joined: 01/01/2005
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AO_hitech wrote:Supercharged wrote:First of all it isn't 95%, second there is no reason one can't live in a apartment or with family and save the money to get into a house.Third maybe you live in a area that is way above your heads price wise. Move to a area where homes are affordable and live you life there. It I had a stump in the field I think I would choose to plow around it.
You are living in a dream world. I'm going to pack up my three kids, wife and move in with Mom and Dad. Yeah, that's going to happen. Move into an apartment, why? It's isn't going to save me enough to purchase a house, not in my lifetime. Move, sure thing. Up root the kids and move to somewhere where I can't find work, sure thing. That'll work.
Those that can easily put 20% down are lucky, and possibly very good/lucky at finances. I'm sure they all think they are just good, but there was more luck that they are willing to admit. When one is giving free housing with a 0% loan, and now your 0% int. went up to maybe 6% which is still very cheap int. for a home. Your problem of having 3000 plus feet in your home. This is why you can't save any money. I grew up in one about 1200 sq. ft. with 7 people living in it. One bath. We all lived, put aside 20% to buy our homes. You need to get off the baby bottle and get rid of the toys for awhile and look after your family first.
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AO_hitech
SF Bay Area
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Joined: 08/09/2004
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Supercharged wrote:When one is giving free housing with a 0% loan, and now your 0% int. went up to maybe 6% which is still very cheap int. for a home.
I certainly never got anything like that. However, the interest only loans are what got us here; see my first post on the subject.
Supercharged wrote: Your problem have 3000 plus feet in your home. This is why you can't save any money.
I don’t live in any such house. I don’t own one either. I use to, but divorce killed that. Now all I can afford is rent. And rent out here is plenty. My house isn’t enough more than an apartment (min legal apartment for the number of people) to ever save up 20% in my lifetime.
Supercharged wrote:I grew up in one about 1200 sq. ft. with 7 people living in it. One bath.
Interestingly so did I. Three bedrooms. However, today, it is illegal for 7 people to live in a three bedroom apartment.
Supercharged wrote:You need to get off the baby bottle and get rid of the toys for awhile and look after your family first.
What baby bottle would that be? I might get on one if I knew what it was. I don’t have any toys to get rid of. My MH is OLD (1985) and the boat is even older (1975) and paid for. The MH isn’t, but the payments are so low that even if I combine that with the small amount I’d save from living in an apartment I’d never even get close to a 20% down payment in my lifetime. And I make way more than average.
NO ONE who makes the average wage (for this area, I don’t know other areas) and supporting a family can save enough to make a 20% down payment on the average house in any reasonable timeframe. They will need help of some sort. Money will have to come from somewhere else. But, only those fortunate enough to get money from somewhere else should be allowed to purchase a house. 
Fortunately for the rest of us, very few people share your opinion.
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PopBeavers
San Jose, CA
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Joined: 03/19/2005
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Supercharged wrote:AO_hitech wrote:Supercharged wrote:First of all it isn't 95%, second there is no reason one can't live in a apartment or with family and save the money to get into a house.Third maybe you live in a area that is way above your heads price wise. Move to a area where homes are affordable and live you life there. It I had a stump in the field I think I would choose to plow around it.
You are living in a dream world. I'm going to pack up my three kids, wife and move in with Mom and Dad. Yeah, that's going to happen. Move into an apartment, why? It's isn't going to save me enough to purchase a house, not in my lifetime. Move, sure thing. Up root the kids and move to somewhere where I can't find work, sure thing. That'll work.
Those that can easily put 20% down are lucky, and possibly very good/lucky at finances. I'm sure they all think they are just good, but there was more luck that they are willing to admit. When one is giving free housing with a 0% loan, and now your 0% int. went up to maybe 6% which is still very cheap int. for a home. Your problem of having 3000 plus feet in your home. This is why you can't save any money. I grew up in one about 1200 sq. ft. with 7 people living in it. One bath. We all lived, put aside 20% to buy our homes. You need to get off the baby bottle and get rid of the toys for awhile and look after your family first.
You have just described the typical home that has a price of more than 350k around here. It used to be more.
The house I grew up in, that mom and dad bought for 17k in 1963, was 3 BR, 1 bath, LR, Dine, kitchen, 2 car garage, 1000 square feet on a 6000 square foot lot. Five kids, mom and dad and grandma makes 8. Mom sold it in 2003 for 469k. Today it would sell for about 540k. At its peak it was almost 700k.
The price of land close to San Francisco may be going down, but it isn't going down very fast and it won't go down very far until the unemployment rate gets closer to 25 percent. When people are willing to drive 80 miles each way to work it keeps the price of housing that is close to the jobs pretty high.
You can find a decent studio apartment for a little over a grand each month.
Housing prices are dropping rapidly where the jobs aren't. Stockton has been hit hard. People that were living in Stockton and working in San Francisco can now afford to move closer to their job, contributing to too many vacant houses in Stockton. There aren't near as many jobs in Stockton as there are in San Francisco.
I can heat my 2300 square foot home for less than $100 per month. I understand some parts of the US coast a little more to heat. I can go camping year round. Because so many people want to live here, prices are high and will remain high, compared to other places. It will continue to go down. I just can not see houses around here dropping to the price of homes in places like Racine, WI (I have relatives ther) where a similar home is 115k.
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Supercharged
Az.
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Joined: 01/01/2005
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You look like some one who should pack up the old 1985 Rv and go to N.D. where anyone can find a good job, in Oil,Constution,building wind mills, what ever, lots of work. You could buy a home up there for $175,000 that would cost you $750,000 in Ca. The kids would like the snow and you need a fresh start somewhere else. You could never live in that part of CA. long enough to dig out of your housing problem.
* This post was
edited 10/09/08 05:54pm by Supercharged *
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AO_hitech
SF Bay Area
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Joined: 08/09/2004
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That's okay, I'll stay here. No one requires 20% down payment to purchase a house...
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PopBeavers
San Jose, CA
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Joined: 03/19/2005
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Supercharged wrote:You look like some one who should pack up the old 1985 Rv and go to N.D. where anyone can find a good job, in Oil,Constution,building wind mills, what ever, lots of work. You could buy a home up there for $175,000 that would cost you $750,000 in Ca. The kids would like the snow and you need a fresh start somewhere else. You could never live in that part of CA. long enough to dig out of your housing problem.
Any place that has snow and no ski lifts to ski down the mountains is not a place I would want to live. I can drive to the snow in about 4 hours, ski all day and then be back home near the beach by bedtime. Snow is nice to visit but I wouldn't want to live in it.
I have no interest in physical labor. I did that when I was 18 and didn't like it. I prefer to sit at my desk to work. If I don't feel like driving 10 miles to the office I just sit at my desk at home and do my work there. I can work in my pajamas. As long as my DSL and/or dial up line works and at least one of my seven computers is working I am good to go. We have a couple of people in Denmark, China and Taiwan. It is better to be in the office some of the time, but I don't need to be there all of the time. If I didn't need to be there at all then I could live anywhere I wanted that had broadband.
I just did a quick job search for the kind of work I do. I only searched one site. 344 showed up for California, one in ND, and I even tried SD, they had 8. Most of the ones in SD are contract for 3 to 6 months. Then what? The one in ND is a little more stable, one to three years.
If I took the one job in ND and didn't like it, can I find another job within 10 miles of that one? I doubt it. I would have to move to another state. No flexibility in choosing what company I want to work for. I would be stuck in a rut.
There is no work in ND for guys like me.
I want the job my cousin had several years ago. It was a work at home job. So they spent 5 years living on their sailboat in the Caribbean. It paid pretty good, $125.00 per hour. She had to pay her own phone bill and internet access though. She could have worked in ND, but I'm pretty sure she liked living at sea better.
If I had family in ND I would feel different, but my kids like California and they said they aren't going anywhere else.
I have nothing against ND. It just isn't attractive to live there for guys like me.
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Matthew_B
The boonies near Dallas, Oregon
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Joined: 08/18/2005
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Supercharged wrote:You look like some one who should pack up the old 1985 Rv and go to N.D. where anyone can find a good job, in Oil,Constution,building wind mills, what ever, lots of work.
I've been figuring that I could do oil work as a safety valve if I got laid off and I'm desperate... but the investments in oil are going to stop in a real hurry with the falling oil prices.
I'm not too worried though, I just quit one job and I'm starting a new one on Monday. I was told that if I ever want to come back, give them a call... even though they just laid off 20% of the workforce.
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