Who else is getting beat by the economy?!

[tosugrad]

I am a teacher in Alberta and I am lucky to be in a strong union - we took a crap kicking for years in this industry but amazingly enough we received 25-30% raises in the last 4 years...I make just under $100,000 - (which is not much compared to most who own NSXs) so I think I will be able to get through this long narrow window and be able to pay my car off...lol...but it is going to be a long drawn out process and this failing economy is going to reset the prices that many labor intensive jobs pay out to workers - the automotive industry is just the beginning folks! Obama and Harper are NOT going to give us anything...they are going to TAKE THINGS AWAY...mainly pay!!

Dam

$100k as a teacher? Is this typical in Canada? Maybe thats why we are so screwed up down here :biggrin:

 

[BATMANs]

Right now is a good time to rent instead of own:

This is located 5-10 mins from me.

http://sfbay.craigslist.org/pen/apa/1002176227.html

Great view, almost no crime, center of silicon valley, good schools.

Plenty of parking for the NSX.


And yes......... u will get some serious ass with this place.....

 

[tosugrad]

Right now is a good time to rent instead of own:

This is located 5-10 mins from me.

http://sfbay.craigslist.org/pen/apa/1002176227.html

Great view, almost no crime, center of silicon valley, good schools.

Plenty of parking for the NSX.


And yes......... u will get some serious ass with this place.....

Must have rented fast. Already removed by author.

 

[Factor X Motorsports]

We are absolutely feeling the economy here in Las Vegas. Many of my friends out here are having their hours cut substantially or being cut all together. Many have also stopped paying for their homes and are content with walking away. Some have not paid in over a year and have yet to receive any notice! Perhaps the banks are that swamped??? My wife works on quite a few shows on the strip and some of the productions have now cut back on the performers chiropractic care. Casinos are cutting jobs, projects are being halted, unemployment is nearing 10%, etc... The upside to the Vegas market is investment property are going at firesale prices and cashflow very nice.

Even my interests in California are showing signs of slowing, we have lost a few tenants in some shopping centers and are now giving close to 30% cuts in rent till the economy improves. Rite Aid is a major tenant and it looks like they may have liquidity concerns in the near future... Rents in the apartment complexes have also been reduced by about 20% to help those in need. I suspect we will need to drop rents 40-50% when its all said and done to help the tenants survive this hard time.

Hopefully all the banks just show their cards once and for all so we know where we stand and can estimate a floor instead of trickling it out quarter to quarter causing more and more fear in the market place.

 

[BATMANs]

Must have rented fast. Already removed by author.

Data from three real estate research firms found:


The valley's housing stock fell in value by $44.2 billion, from $404.5 billion to $360.3 billion from the third quarter of 2007 to the third quarter of last year, according to Zillow.com. The company also said homes sold at a loss accounted for 50 percent of homes sold in the third quarter of 2008.


The largest losses were concentrated in a few cities. Double-digit losses were recorded from the third quarter of 2007 to the same period in 2008 in San Jose, Gilroy, San Martin, Morgan Hill, Milpitas and Santa Clara.


Some high-price communities saw increases in median home prices in the first nine months of 2008, according to a study by Marcus and Millichap. Using DataQuick data, the study found home-price gains during 2008 of 17 percent in Palo Alto; 8.8 percent in Cupertino; 7.6 percent in Mountain View and 5.7 percent in Los Gatos. Other communities posting gains included Los Altos, Monte Sereno and Saratoga.

People that procure in may 'hood usually have their finances well-managed.

I've never heard of sub-prime mortgages in my 'hood.

It's one of the few towns/cities in the USA that can be self-sustaining from property taxes. In otherwords, we don't need state or federal $$$$ to survive.

Of course that average price is about $1.8 million......

 

[JonBoy]

I got my raise today. Better raise than last year and it looks like I'll be assuming some of my boss' responsibilities throughout the year as he moves on to newer and better things (at his own request). Still waiting to see if I make chief engineer this year or not.

Chalk me down as a very thankful guy that I'm blessed in what will surely be a rough year for many a family. :smile:

 

[hondacuraplanet]

I got my raise today. Better raise than last year and it looks like I'll be assuming some of my boss' responsibilities throughout the year as he moves on to newer and better things (at his own request). Still waiting to see if I make chief engineer this year or not.

Chalk me down as a very thankful guy that I'm blessed in what will surely be a rough year for many a family. :smile:

If you do make Chief Engineer, you'll have to change your avatar :biggrin:

 

[steveny]

I'm in a strange situation. I'm an independent consultant. I've been with 1 client for the past 3 years. They are really struggling financially and many of the projects are on halt... therefore they don't have work for me. However, there are several projects very close to being approved so they don't want to let me go. I've been billing 40 hour weeks for the past 2 months... basically sittin around at home... waiting.

Sounds kinda like a no show. If you don't know what that is fa-get-bout-it.

 

[NetViper]

I've been billing 40 hour weeks for the past 2 months... basically sittin around at home... waiting.

Sounds like a dreamjob. You could golf every day and charge someone for it.