San Diego Job Market sector breakdown

[NYSD1995]

Originally Posted by jlcalle

And Sass, does your other half work too?

Believe it or not many people in towns like Denver are able to get by on one income. It isn't pretty but they can manage. Ain't nobody able to do that in SD. Again, 20 something college students aren't who were speaking of.

We are a one-income family, my wife is a SAHM.

A big reason we are considering a place like Denver is that it takes the pressure off my income, the same multi-month job loss in a city with significantly lower housing costs is a lot less damaging than it would be in an expensive city like San Diego. Since I am in tech, job losses can and do happen with fairly predictable regularity.

[sav858]

Originally Posted by jlcalle

Right.. CA foreclosures are so vast the state had to issue a moratorium on them. You should immediately quit whatever line of work you are in (if you are employed and not in school) and become a financial adviser. You'll make a ton more money than at your current job if you can prevent the millions of CA homeowners from default who are upside down.

Perhaps you missed the part where I said "if you know how to manage your life and finances" b/c if one did then they shouldn't be getting foreclosed on for the most part. Some people try to hold onto a lifestyle when they should be adjusting immediately to a new reality. Whatever financial mistakes you made in SD or others make doesn't make a difference in my life or other people's except all the foreclosures sure do make it possible for people like me to be able to buy a nicer place in a better location than what was available before.

[NYSD1995]

Originally Posted by sav858

Perhaps you missed the part where I said "if you know how to manage your life and finances" b/c if one did then they shouldn't be getting foreclosed on for the most part. Some people try to hold onto a lifestyle when they should be adjusting immediately to a new reality. Whatever financial mistakes you made in SD or others make doesn't make a difference in my life or other people's except all the foreclosures sure do make it possible for people like me to be able to buy a nicer place in a better location than what was available before.

Certainly you can understand that not everyone losing their home did so simply because of bad financial decisions? Many people speculated and lost, but a lot of people simply lost their jobs. Literally millions of people are out of work. I think you are underestimating the impact that a job loss can have on a family and homeowner. Especially for younger people and new homeowners, it's just not realistic to think that everyone who buys a house is going to have 100k in the bank for an emergency. I know my parents didn't.

[sav858]

Originally Posted by Sassberto

Certainly you can understand that not everyone losing their home did so simply because of bad financial decisions? Many people speculated and lost, but a lot of people simply lost their jobs. Literally millions of people are out of work. I think you are underestimating the impact that a job loss can have on a family and homeowner. Especially for younger people and new homeowners, it's just not realistic to think that everyone who buys a house is going to have 100k in the bank for an emergency. I know my parents didn't.

Yes but I was thinking of CA more specifically. People losing their homes b/c of job losses happens all over the country no matter where you are. A lot of the people losing their homes in CA are losing them b/c of bad financial decisions imo. Overpaying for a home they really couldn't afford to begin with. And even for those that do lose jobs and eventually their home, some I don't think adjusted quickly enough to their new reality. Trying keep the beemer, big house, etc.. and not stripping down quickly enough to maximize their savings/safety net.

But my original point I was trying to make it I don't see how being laid off in SD is going to worse on one financially than anywhere else IF they are not overspending on housing and other things such as car payments to begin with. Of course plenty of people here do overspend on those things.

[NYSD1995]

Originally Posted by sav858

Yes but I was thinking of CA more specifically. People losing their homes b/c of job losses happens all over the country no matter where you are. A lot of the people losing their homes in CA are losing them b/c of bad financial decisions imo. Overpaying for a home they really couldn't afford to begin with. And even for those that do lose jobs and eventually their home, some I don't think adjusted quickly enough to their new reality. Trying keep the beemer, big house, etc.. and not stripping down quickly enough to maximize their savings/safety net.

I agree, what you describe did happen, but I think that was more common in the first wave of foreclosures over 06-08. The real estate agent with the bimmer and 3 speculative houses... definitely was a real phenomenon.

Buy once the national economy tanked in late 08, I think that the impact has shifted more towards "regular" people. I work for a company that laid off 400 people in *one day*, including a hard working, honda-driving middle class guy who's wife had a baby literally the week before. Thousands of lives impacted over 09 that had nothing to do with over-extended lifestyles or housing speculation.

[sdlife619]

Living a luxurious lifestyle when you have no money, IMO is part of the reason why California is a little worse off than other states. People are so badly in debt here because of all the materialistic crap they buy, that it's now biting them in ass big time.

We all need to live in moderation, if you can't afford to buy that new car, that new appliance for your home, a new garage door, then don't buy it! Unless you have cash in hand or know that your able to pay it off the following month, it's that simple. We as a society need to stop living off credit cards, easy credit was much too available in the past, and I'm glad that some of the major credit card companies are finally saying NO to people and shortening the credit limit. Hopefully this will prevent people from buying a bunch of stuff they probably will never pay back, and will create a sense a responsibility from now on.

I understand that the economy needs to pick up, and the government wants us to start spending again, but we need to realize that the excess spending from consumers, and the fact the a lot of Americans lost there jobs, everyone isn't so "Spendy" these days, and wont be a for a long long time.

Your needs must come first, sadly that's never the case for most people.

[sdurbanite]

Originally Posted by jlcalle

Pro services includes business services- lawyers, consultants, scientists, economists, etc.. Often very skilled labor.

The chart looks like a lot of cities nationwide. Education and healthcare just hanging on and everything else in the toilet.

It looks like the stats that support the pie chart that Sassberto linked to comes from the American Factfinder Census. And just looking at other cities (Dallas and San Antonio) similar in size to SD, the percentage of retail jobs is actually lower here than in both SA and Dallas. Also, the percentage of professional/scientific/mangement occupations are higher in SD. Can you tell I love this stuff? I can't get enough facts and figures... Yay, Census 2010!

But who knows, you can find stats that show different data, depending on the source.

San Diego city, California - Selected Economic Characteristics: 2006-2008

Dallas city, Texas - Selected Economic Characteristics: 2006-2008

San Antonio city, Texas - Selected Economic Characteristics: 2006-2008

Originally Posted by sav858

40K jobs gone in Denver is a higher percentage of jobs in the metro region than 23K jobs in San Diego is. Denver and SD are nearly the same size with close to the same amount of people employed overall, so I'm not sure how SD is a "small town" compared to Denver, a town the same size.

Exactly. There are just over 3 million people in the SD Metro and about 2.5 mill in Denver Metro, but if you add Boulder it would be closer in population. I don't know where the small town thing comes from.

[sdurbanite]

At least VC investment in San Diego is still hanging in there. Guess we can give credit to the biotech community for this.

https://www.pwcmoneytree.com/MTPubli...sp?page=region

[blauskies]

Tesla Motors in San Carlos laid off a bunch of people and now is hiring, this is the tech industry. Happened here with Motorola too. Thanks for doing a good job now take this cardboard box empty your desk and leave.