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Old 03-13-2016, 02:04 PM
 
28,115 posts, read 63,666,290 times
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Quote:
Originally Posted by CA4Now View Post
Out of curiosity, what year did you buy your first home?
My first home was almost 30 years ago... it was around the time of the worst unemployment since the Great Depression... I was a new Engineering Grad and no one was hiring... it really was bleak plus sky high interest rates...

I've continued to buy every couple of years upgrading to better locations... my first W2 job paid $1.65 an hour... so I know what it's like to save... been paying into social security since age 12.

Oakland Minimum wage is $12.55 an hour now... then it was 1.65... so wage is up note quite 8 times...

So a 15k fixer than would be about 120k now...

A couple of years ago I posted on City Data that Oakland had over a 100 single family homes under a 100k and 45 of those were under 60k... real single family homes in East Oakland.

Still remember having to go to the Oakland School Superintendent to get a special work permit because of my age... ah... the good old days.

The biggest bit of luck was buying my first home it the worst of economic times... which would have been the same as buying between 2009 and 2013.
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Old 03-13-2016, 03:27 PM
 
Location: So Ca
26,727 posts, read 26,806,307 times
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Originally Posted by Ultrarunner View Post
My first home was almost 30 years ago...
Very smart of you!
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