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I have an opportunity to move back to my old town I love. But Calif is going into a mini recession. Unemployment is huge, house prices are dying.
Do I move into a unstable economy - is that safe? Or does it seem like a great idea beause I WILL have a great job and I can afford a home there finally?
(have I asked this before?)
You can tell I'm scared huh? But I guess the quation is - does a recession really effect anyone who has a stable job?
A recession has long-term effects. Some fringe business might die out when people don't have extra money to spend, or even some larger chains. Alot of it depends on management and the circumstances surrounding the area and the business. Is your job the kind of job that would have nothing to do with a recession?
It sounds to me like you know your answer, but are asking whether you should do it anyway. If you do, then just make sure to try and take extra, unusual precautions to protect your ASSets.
Will you be nearer to solid, supportive family? That may be a good thing.
ibeg4sushi (don't you LOVE that ID?!!) has really sound advice, concerning how "recession-proof" the job, and company, could be. That's important, don't you agree?
I think that if the national economy were in a definite depression, anyone would be wise to hold on to the income one had at the moment. But that's not what's going on now. An important point is that the national election in November will almost certainly vote in a Democrat for president, who will be working with Democratic majorities in Congress; the "recession" will most likely change.
CityGirl, you have to live your life, not a community's or a nation's life. If housing prices are down, that's a golden opportunity to buy or to rent at a lower price. If unemployment is rising, that indicates the company offering you the job really wants you.
Just remember that no matter what path you choose, now or the next thousand times, Life will always show you the best it has to offer you from that path. Go forth in joy!
I have an opportunity to move back to my old town I love. But Calif is going into a mini recession. Unemployment is huge, house prices are dying.
Do I move into a unstable economy - is that safe? Or does it seem like a great idea beause I WILL have a great job and I can afford a home there finally?
(have I asked this before?)
You can tell I'm scared huh? But I guess the quation is - does a recession really effect anyone who has a stable job?
if you have a job there, and want to live there, why not? You do not just yet need to buy. Or you can rent with the option to buy. I do not think any job now is secure. If that will make you happy?
I'm doing it, I'm moving from a place that isn't really being effect much by the recession (not on a grand scale like some states) to South Florida. The town I lived in in Fla was ranked most expensive city in the US just a year and a half ago and was one of the reasons I moved, its now to where we can buy a house 2 min from the beach for $175,000 where it was going for $600,000. The recession has helped me be able to buy a house . Do it if it makes you happy, just have a job thats steady and not in jeopardy of going under.
I'm back to this wuestion - can you beleive I'm still looking for a job (I've gotten many interviews) But finding a company to invest in someone in a recession in the hardest hit city - has been quite a struggle
So now I think - maybe I shouldn't move at all?
I want to - but now I'm terrified. What if I sell my house and new find a house to place my family in? What if we sell and we are worse off?
I thnik that you need to realise that hter worse paert of the recession;lose of jobs is just starting IMO.It at 6.7% now and is like by experts to go to 10%. I would always look before l;eaping inot a area that IU thought would be a hard hit areas;as there are some areas that are and wil be very hard hit.Its like buy a home;it not just afforsding the home but if you cvan afford the upkeep on a home.I saw it ihn the recession in the 70;s when as things goit worese peopel satrted moving in large numbers becuase i some areas it can take years before the economy really recovers in to teh positive even when others start to boom. Make sure you put youreslf in a position to move later if thigns get really bad in the area you move to.JMO
I read recently on a news site of an estimated 3 million losing jobs by 2010....I think the very best you can do for your family is to cut up your credit cards, pay off the loans, and try to have as little "American" debt as you can, so it won't bite you in the butt should a true hardship come. The fewer dollars you owe, the less can be taken away from you. Point blank.
I think if it were me, I'd stay put at this point, but you know, it all comes down to adding up your circumstances. Do you think your current town is being hit harder than most Do you think it won't survive a 10-year economic drought? KEEP your job. Seniority at a company is worth something right now. Newbies get laid off first....But right now, people are getting laid off for all kinds of reasons, with the core reason being of course cost-effectiveness for the company.
Pay off your debts and loans.
Get the wife a part-time job or better to help pay those off.
Add some training to your job, give yourself the edge over your colleagues.
Spend a little more attention at your job.
Polish your resume.
Keep a folder especially for business cards of people with whom you can network with for a job later.
Imagine yourself in prosperity inner balance.
Sell off your extra stuff you don't need, eradicate clutter. Recycle your "stuff" back into liquid cash (ebay! Craigslist! Garage sale! Estate sale!)
And if you are able to sell your house, consider yourself one of the lucky! But if you don't need to move, you don't have to. You will probably get more for your home investment if you can ride out the storm.
Good luck friend!
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