Am I gonna renting the rest of my life on 85-90k a year ? (San Diego: sales, rental)

[NORTY FLATZ]

Originally Posted by Medicallabscientist

Even with 20% down payment that means all I can afford comfortably is a place in the mid to upper 500’s,
So If i cant do it as a healthcare professional making 115,000 a year, no debt, huge cash savings, and tracking every penny on Mint And Personal Capital APP what hope does a regular guy have?

If you only make $115 per year, you ARE a regular guy. To make some real money, you need to be published (regularly.)

Now, if you were pulling down $115 per month, THEN you might have something to offer for a place "where you're willing to hang your scrubs."

If you can only afford something in the "upper $500's" then DO THAT.

You're NOT going to "save your way to wealth." You gotta "make your own wealth."

Working with CRISPR?

BTW~ $500 IS a starter home!

[Medicallabscientist]

Originally Posted by NORTY FLATZ

If you only make $115 per year, you ARE a regular guy. To make some real money, you need to be published (regularly.)

Now, if you were pulling down $115 per month, THEN you might have something to offer for a place "where you're willing to hang your scrubs."

If you can only afford something in the "upper $500's" then DO THAT.

You're NOT going to "save your way to wealth." You gotta "make your own wealth."

Working with CRISPR?

BTW~ $500 IS a starter home!

Sorry for misunderstanding, I am a Clinical Laboratory Scientist not a research scientist, I am just the guy who
runs your lab tests when you have blood work done at the doctors office. I realize my salary for San Diego which has a median household income of 77,000 is pretty ordinary, what I mean is that my attention to detail regarding budgeting, sacrificing of almost all fun and luxury items, avoidance of all debt, and knowledge of personal finance is what is unusual. I would like to live in La Jolla, UTC, Sorrento Valley, of Del Mar due fo proximity to work and the mild climate and unfortunately all I can afford for 500-600K in those area’s is a 1-2 bedroom condo. Where I come from in Michigan 600K will buy you a 3,000 sq foot mini mansion on the same street Kid Rock lives in or perhaps a luxuriant house in Birmingham, Mi where a Detroit RedWings player will be your neighbor. In San Diego you get a 1960’s 1 bedroom apartment. Lol

https://www.realtor.com/realestatean...9_M32043-26294

[C2BP]

Originally Posted by dg628

I’ve been working for a bigger electrical company that isn’t a big name yet. We do a lot of biotech and pharmaceutical/lab stuff. So we constantly have work and everyone says it’s a pretty good merit shop to work for. Plenty of OT but once you reach journeyman level after they send you to ABC (trade school) for your apprenticeship , your looking at low 40s/hr , you could move up to 45/hr ish as a journeyman but the real money won’t be until you make foreman.

If I stick with this company and stay in San Diego for the foreseeable future , will I ever be able to afford anything other than a $&@?hole studio ?

We’re working 56 hour weeks and the money adds up quick with OT but you can’t always depend on OT.

The FED created the biggest Real Estate bubble in the history of the world. It’s super easy to deflate this bubble and inflated fake prices. All you have to do is raise interest rates and prices would deflate 70% and more in some areas.

By protecting everything bubble economy and inflated real estate + stock market the FED is protecting themselves and their own survival.

It’s absolutely crazy and insane what has been done with real estate in America. NAR and their lobby is partially to blame as well. House should be viewed as a shelter and place to live and raise a family, not some kind of investment and speculative rental business.

Higher interest rates would end this speculation quickly and crush or destroy speculators and investors. Higher interest rates is our real cure and medicine. But higher interest rates means a lot of pain and sufferings, defaults and bankruptcies. It means we start from a ground level or zero. Maybe after this election is over the FED will do the right thing and raise rates, cleanse our economic system, allow bankruptcies and defaults to run wild, support our currency and make it stronger, allow majority of our citizens to save money and earn interest, crush real estate prices, rents, education and healthcare cost, bring all prices down to earth so Americans like you can afford to buy a house again.

Remember, this is all FED’s fault and manipulation of interest rates and ZIRP!!!!! That Mad Men Ben Bernanke created another gigantic bubble after the first one imploded back in 2008.

[Racer46]

Originally Posted by C2BP

The FED created the biggest Real Estate bubble in the history of the world. It’s super easy to deflate this bubble and inflated fake prices. All you have to do is raise interest rates and prices would deflate 70% and more in some areas.

By protecting everything bubble economy and inflated real estate + stock market the FED is protecting themselves and their own survival.

It’s absolutely crazy and insane what has been done with real estate in America. NAR and their lobby is partially to blame as well. House should be viewed as a shelter and place to live and raise a family, not some kind of investment and speculative rental business.

Higher interest rates would end this speculation quickly and crush or destroy speculators and investors. Higher interest rates is our real cure and medicine. But higher interest rates means a lot of pain and sufferings, defaults and bankruptcies. It means we start from a ground level or zero. Maybe after this election is over the FED will do the right thing and raise rates, cleanse our economic system, allow bankruptcies and defaults to run wild, support our currency and make it stronger, allow majority of our citizens to save money and earn interest, crush real estate prices, rents, education and healthcare cost, bring all prices down to earth so Americans like you can afford to buy a house again.

Remember, this is all FED’s fault and manipulation of interest rates and ZIRP!!!!! That Mad Men Ben Bernanke created another gigantic bubble after the first one imploded back in 2008.

Interest has an impact but many, many homes are selling for cash so the interest rate is meaningless for those. In addition even if it went up a bit there are still too many people buying who can afford it. A 70% drop is simply a dream.

[1AngryTaxPayer]

Originally Posted by C2BP

The FED created the biggest Real Estate bubble in the history of the world. It’s super easy to deflate this bubble and inflated fake prices. All you have to do is raise interest rates and prices would deflate 70% and more in some areas.

By protecting everything bubble economy and inflated real estate + stock market the FED is protecting themselves and their own survival.

It’s absolutely crazy and insane what has been done with real estate in America. NAR and their lobby is partially to blame as well. House should be viewed as a shelter and place to live and raise a family, not some kind of investment and speculative rental business.

Higher interest rates would end this speculation quickly and crush or destroy speculators and investors. Higher interest rates is our real cure and medicine. But higher interest rates means a lot of pain and sufferings, defaults and bankruptcies. It means we start from a ground level or zero. Maybe after this election is over the FED will do the right thing and raise rates, cleanse our economic system, allow bankruptcies and defaults to run wild, support our currency and make it stronger, allow majority of our citizens to save money and earn interest, crush real estate prices, rents, education and healthcare cost, bring all prices down to earth so Americans like you can afford to buy a house again.

Remember, this is all FED’s fault and manipulation of interest rates and ZIRP!!!!! That Mad Men Ben Bernanke created another gigantic bubble after the first one imploded back in 2008.

S cal single family homes are not going to drop anywhere near what Vegas or Phoenix will. We've already seen that movie. So, for that matter, one can still buy a cheap home across America but the entitled class thinks they should be able to live on the beach for 150 grand. That dream was true in 1970 but add a million or two to that now.

[Racer46]

Originally Posted by 1AngryTaxPayer

S cal single family homes are not going to drop anywhere near what Vegas or Phoenix will. We've already seen that movie. So, for that matter, one can still buy a cheap home across America but the entitled class thinks they should be able to live on the beach for 150 grand. That dream was true in 1970 but add a million or two to that now.

And the cry babies that say ...my boomer grandfather bought a house 50 years ago so cheap and now I can't buy one, it isn't fair, it is their fault. Self centered Cry babies with no understanding.

[C2BP]

Originally Posted by Racer46

Interest has an impact but many, many homes are selling for cash so the interest rate is meaningless for those. In addition even if it went up a bit there are still too many people buying who can afford it. A 70% drop is simply a dream.

We are in the middle of pandemic with highest unemployment rate since the Great Depression. Don’t you think rents and real estate prices should be crashing, DJI value should be cut in half? After initial drop back in March once again our FED came to rescue and reinflated the markets, cuting interest rates to ZERO. Back in 2008 they told us ZIRP would be a temporary policy, now for the rest of our existence we can never normalize interest rates without the crash or total economic collapse.

Without cheap money it’s all over for fake and phony real estate market and those overinflated prices. Remove cheap money, raise rates and real estate prices would correct 70% and more really quickly. You can’t have speculation in real estate with higher interest rates and strong US Dollar. You need cheep money and insane ZIRP policy for that.

[C2BP]

Originally Posted by 1AngryTaxPayer

S cal single family homes are not going to drop anywhere near what Vegas or Phoenix will. We've already seen that movie. So, for that matter, one can still buy a cheap home across America but the entitled class thinks they should be able to live on the beach for 150 grand. That dream was true in 1970 but add a million or two to that now.

If you raise interest rates and remove cheep money speculation in housing would end immediately. Higher interest rates + strong US Dollar = lower housing prices and lower rents. Lower rents means speculation in rentals will end and most of those over-leveraged Landlords would end up bankrupt.

In most areas of SD real estate has been overinflated by 100% and up. Imagine what 7% or 11% interest rates would do to those prices. How about 17% interest rates? It would cut prices more then 100%.

Everything since 2001 has been a scam in real estate.
First bubble or Greenspan bubble imploded back in 2008 and then Mad Men Ben Bernanke created the monster bubble and everything bubble economy with ZIRP and QE shenanigans.

[Cadsuper55]

Not in that area thats 600k for 3bd 2ba starter home in that area

[Redflag71]

Originally Posted by 1AngryTaxPayer

S cal single family homes are not going to drop anywhere near what Vegas or Phoenix will. We've already seen that movie. So, for that matter, one can still buy a cheap home across America but the entitled class thinks they should be able to live on the beach for 150 grand. That dream was true in 1970 but add a million or two to that now.

get into whatever property that you can comfortably afford and then as you reduce your mortgage, equity will follow.

Equity is the name of the game if you want to move up.