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07.15.08, 17:21 PM General Topics
57 replies
Re; The Housing crisis. What percentage of people in general "have" to move (relo, divorce, new baby) vs. "want" to move (and so will stay put because they dont want to take a loss). [ Reply | Watch | Flag ]
General Topics 07.15.08, 05:21 PM Flag
 

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Very few people have to move. Relocations are optional (except for military) and you don't need a new house because you have a baby. Divorce can force the issue though; although you could argue that divorce is also optional (at least for one spouse). [ Reply | More
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General Topics 07.15.08, 05:23 PM Flag
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I'm not sure I agree. Lots of people end up moving b/c they've lost a job and find a new one in another city. [ Reply | More
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General Topics 07.15.08, 05:24 PM Flag
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OR: But it's not a mandate. It's a choice to take a job in a new city. [ Reply | More
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General Topics 07.15.08, 05:25 PM Flag
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if you loose a job and can't find one where you live, then it is a mandate. Those of us that don't live in huge cities need to move. If my husband lost his job, there would be no other openings in the city we live in [ Reply | More
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General Topics 07.15.08, 05:27 PM Flag
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There is not a single job in the entire NY metro area that you husband could get? I don't believe it. Unemployment is still under 6%. [ Reply | More
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General Topics 07.15.08, 05:28 PM Flag
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np: at a certain career level there might be 3 of your positions in the nearest city. Thats not much. [ Reply | More
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General Topics 07.15.08, 05:29 PM Flag
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So you get a different job. This is still about choice! You may not get to do exactly what you want to do, but there will be something you can do. And if you chose to leave your home city so that you can stay in your position, that is a choice. [ Reply | More
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General Topics 07.15.08, 05:33 PM Flag
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you're being ridiculous. If you're at the top of your career, what do you suggest, taking a job at McDonalds instead of moving? [ Reply | More
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General Topics 07.15.08, 05:35 PM Flag
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I am suggesting that it is a CHOICE to remain in his career of CHOICE as opposed to trying something else. No one is forcing him to remain a journalist. That's his choice. [ Reply | More
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General Topics 07.15.08, 05:36 PM Flag
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ummm, the last post wasn't me (Dh as journalist)... [ Reply | More
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General Topics 07.15.08, 05:38 PM Flag
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np: She is suggesting that it is a choice to move instead of taking one of the jobs that is available locally. [ Reply | More
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General Topics 07.15.08, 05:37 PM Flag
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there are a lot of places in this country that have pretty dead job markets [ Reply | More
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General Topics 07.15.08, 05:38 PM Flag
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It would still be a choice to leave. I haven't seen any treasury agents holding guns to people's heads forcing them to move to cities with more lucrative job opportunities. Got to keep that revenue up! [ Reply | More
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General Topics 07.15.08, 05:40 PM Flag
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but they still wouldn't be able to stay in the house, because they would not longer to be able to afford it. So what's the difference? [ Reply | More
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General Topics 07.15.08, 05:41 PM Flag
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They could chose to get second jobs. People do it all time. [ Reply | More
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General Topics 07.15.08, 05:43 PM Flag
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oh good grief. You're so helpful. Thank you for helping us poor blokes understand our options. [ Reply | More
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General Topics 07.15.08, 05:45 PM Flag
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Who was asking for help? If you want help, ask someone who was around in 1982. They can fill you in on coping mechanisms. [ Reply | More
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General Topics 07.15.08, 05:49 PM Flag
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wait a minute...you're a senior level accountant in the non profit health care sector earning $125k....the closest lateral move outside of the non profit health care sector would be several levels (and pay grades) down. [ Reply | More
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General Topics 07.15.08, 05:36 PM Flag
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And that would be a choice. I work on Wall Street. If I couldn't get another job on Wall Street, I would have two choices. Find a job in banking outside of the city or find a job outside of banking in the city. [ Reply | More
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General Topics 07.15.08, 05:38 PM Flag
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So if you opt to stay in NYC you will be virtually entry level as your banking skills are not transferable at anywhere near your current level. Is this ok with you? [ Reply | More
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General Topics 07.15.08, 05:40 PM Flag
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I would not be entry level. My skills do transfer. But that's besides the point. Personally, I would chose to leave NYC and work in NC or Chicago. But it would be a choice, not a something I would "have" to do. [ Reply | More
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General Topics 07.15.08, 05:45 PM Flag
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Yeah I'm not making the location argument so much as asking you how you think you could come close to matching your present salary outside of your specialty. i think you are being very unrealistic about the options that would be available to you. [ Reply | More
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General Topics 07.15.08, 05:49 PM Flag
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I'm a treasurer at a bank. Banks are not the only organizations that need treasurers. I like banks because I enjoy doing funding and liquidity work. But I would be a treasurer elsewhere if I couldn't find a job in a bank. [ Reply | More
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General Topics 07.15.08, 05:51 PM Flag
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good luck with that with the influx of finance people desperate for jobs [ Reply | More
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General Topics 07.15.08, 05:53 PM Flag
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Finance isn't treasury. No one is walking from a front office position or a P&A role into a treasury role. [ Reply | More
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General Topics 07.15.08, 05:58 PM Flag
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Ummm. I'm not in the NY metro area, yes he would be able to find a ton of jobs in NYC. You posted this in general, not NY [ Reply | More
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General Topics 07.15.08, 05:30 PM Flag
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So there is not a single job (other than the one he has) anywhere is commutable distance to your home? Not one? I still don't buy it. [ Reply | More
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General Topics 07.15.08, 05:32 PM Flag
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nope. My dh is a journalist. Only one major newspaper. [ Reply | More
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General Topics 07.15.08, 05:32 PM Flag
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np: my brother is a journalist at a top-of-the-food chain paper but even I realize he will be finished within 10 years, the biz is dead. What does your DH think? [ Reply | More
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General Topics 07.15.08, 05:34 PM Flag
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so dead. My dh is getting into freelance and doing pretty well at it. [ Reply | More
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General Topics 07.15.08, 05:35 PM Flag
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^^^ but still needs the day job right now [ Reply | More
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General Topics 07.15.08, 05:37 PM Flag
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So why can't he do something else? PR? Communications? Teaching? [ Reply | More
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General Topics 07.15.08, 05:34 PM Flag
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hmmm, b/c he's built this amazing career and doesn't want to start as a lower paid middle level cog? [ Reply | More
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General Topics 07.15.08, 05:36 PM Flag
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He doesn't WANT to. It's his choice to pursue journalism. He wouldn't HAVE to move. He would CHOSE to move so that he could do what he loves. [ Reply | More
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General Topics 07.15.08, 05:41 PM Flag
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we would go into foreclosure if he lost his job. There is nothing else in this town that would pay him enough to keep the house anyway, so it's really not that much of a choice. [ Reply | More
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General Topics 07.15.08, 05:44 PM Flag
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Well then it sounds like you made a pretty bad choice when you bought your house. You took out a mortgage even though you wouldn't be able to afford it if your DH lost the only job locally that he would be willing to take? That's terrible planning. What's the plan if the market isn't moving and DH loses his job? [ Reply | More
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General Topics 07.15.08, 05:47 PM Flag
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I think that you're crazy. We'll be fine, b/c dh isn't going to loose his job (unless he does something stupid to get himself fired), at least not before we can afford to have him go full time freelance. But you're argument that moving is always a choice is pretty flawed. [ Reply | More
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General Topics 07.15.08, 05:50 PM Flag
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ita [ Reply | More
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General Topics 07.15.08, 05:51 PM Flag
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ignore snarky person, you'll just feed the insanity;) [ Reply | More
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General Topics 07.15.08, 05:52 PM Flag
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OMG above poster is the most deluded fascist I've ever heard. i hope this is a sick joke! [ Reply | More
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General Topics 07.15.08, 05:53 PM Flag
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I think that she was just trying to get every riled up. [ Reply | More
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General Topics 07.15.08, 06:00 PM Flag
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^^^really really hoping that she did at least. [ Reply | More
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General Topics 07.15.08, 06:02 PM Flag
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so if the housing market grinds to a halt what percentage would you say will still occur despite the economy...5%, 10%? [ Reply | More
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General Topics 07.15.08, 05:24 PM Flag
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OR: Not everyone lacks equity in their home. Not by a long shot. As for hard figures, I can't say for sure. But I think that the tightening of the credit market will have a much larger impact than the decline in home prices. [ Reply | More
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General Topics 07.15.08, 05:27 PM Flag
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Credit is extremely difficult now but the market is soo flat in many parts of the U.S. is this due to no one moving or fear or what???? [ Reply | More
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General Topics 07.15.08, 05:28 PM Flag
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The market is flat for a few reasons. Tighter lending standards (no more 100% mortgages). Far fewer speculators. Buyers waiting for the market to bottom out before buying. And overbuilding. Many areas are overbuilt with homes that no one wants or needs. [ Reply | More
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General Topics 07.15.08, 05:31 PM Flag
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In major metropolitan area you attribute the rise in house prices to overbuilding and speculators? I'm not trying to be snarky but I read in the WSJ an article about what happens if you HAVE to sell your house and I wondered what % of people that involves? [ Reply | More
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General Topics 07.15.08, 05:33 PM Flag
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Who said anything about major metro areas? But yes, many are overbuilt. Las Vegas, Miami, etc. Then you have the exurbs which created a glut of unwanted homes. [ Reply | More
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General Topics 07.15.08, 05:35 PM Flag
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yes, but if the exburbs go way down, it will drag the rest of the market with (which it is just starting to do where I live). [ Reply | More
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General Topics 07.15.08, 05:43 PM Flag
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in my area, the downturn is many due to foreclosures and short sales, which means the few people that do need to move are screwed. [ Reply | More
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General Topics 07.15.08, 05:40 PM Flag
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what is the connection? [ Reply | More
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General Topics 07.15.08, 05:42 PM Flag
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if you are competing against 10 foreclosures, then you will have to drop your price [ Reply | More
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General Topics 07.15.08, 06:03 PM Flag
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in my area, it is now listed as a "declining area" which means no more mortgage insurance. You now have to bring 20% to closing. This means most people can't afford to buy at the bubble prices. [ Reply | More
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General Topics 07.15.08, 05:32 PM Flag
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Realtor here: yes this is very true and 90% of the U.S. is "declining". Moreover if you buy in a coop or condo a huge percentage of the building must be owner-occupied. [ Reply | More
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General Topics 07.15.08, 05:35 PM Flag
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I wonder if the divorce rate rate will drop because people can't afford to move? [ Reply | More
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General Topics 07.15.08, 05:30 PM Flag
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lol! [ Reply | More
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General Topics 07.15.08, 05:33 PM Flag
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We are moving, sold our place and made a decent profit (about 750K).....but we bought in Manhattan 9 yrs ago. People who are getting hosed are people who bought at the height of the market 2 yrs ago and then had to move because of a job for example. I've seen houses and apts on the market for less than the seller pd 2 yrs ago. That's gotta hurt. [ Reply | More
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General Topics 07.15.08, 06:18 PM Flag
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