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Missed the bottom again ?


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2009 Oct 5, 2:04pm   19,346 views  109 comments

by steady market watcher   ➕follow (1)   💰tip   ignore  

Something crazy has gone on for the last couple of months. A lot of people who have been waiting years to take the plunge into home ownership have finally done so. Here are some of the points that were made by the newly crowned home debtors....

- We have been hoping too for prices to fall, but leave alone offering asking price, we have been outbid on offers several times and were finally having offers accepted only if we offered more than 10% above asking price.
- Interest rates are the lowest they have been in years. We are not going to miss our opportunity to buy Bay area real estate. It hurt missing the boom last time and we cannot go through that again.
- Kids are growing and if we wait for homes being 3X ( or even 5x) times AGI, it will never happen.
- Peer pressure. All my friends who have waited have bought homes. Surely all cannot be wrong...
- I do nto care if real estate goes down. I want to live in my own place and I am not looking to flip.
- Restaurants are full these days. Looks like all the stimulus is working.
- Rents are going up. I just got a 10% increase for my 2 bed 2 bath. Heck, with all this money pumping, what is the guarantee that your rent stays steady, especially when you are in a good school district ?
- The $8K incentive
- Lots of Indians especially buying. These guys spend 60% on housing and for dual income husband wife software engineers, $500K mortgages are cheap considering their inclination to save and spend on property.

Looking at how the Fed and the govt. have manipulated the market and offered all sorts of outlandish programs to aid home debtors, it does feel like I am being short-changed here. Are there options available to sue the government for discrimination based on choice of housing ?

#housing

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108   thomas.wong87   2009 Oct 11, 6:00pm  

Leigh says

unemployment continues to climb…this party is still swinging!

This came up from a headhunter. Read the last line..... Mfg, R&D, Accounting leaving our shores..
so much for the talk about high paid dual incomes couples....

Director of Philippines Accounting Operations Center
This outstanding opportunity is in the Philippines!
As Director of Accounting/Finance, you will be responsible for overseeing all aspects of the Accounting Operations Center located in the Philippines. These responsibilities include supporting both Philippines and U.S. operations.
The Philippines perspective of this position involves hiring, training and oversight for Accounting Operations Center employees; coordinating the month end, quarterly, and annual financial close processes with the Dallas and India accounting and finance staff; processing A/P, payroll, and all internal and external reporting of financial results and analyses of the Philippines operations on a consolidated basis; ensuring the Philippines operations are compliant with all reporting requirements and monitoring the adequacy of certain reserves.
Support of U.S. operations will involve certain invoicing, payroll, cash application and accounts payable functions for field operations and corporate accounting, process documentation, ad hoc projects, identification of additional processes to migrate and subsequent transitioning of those tasks to the Philippines.
This position also provides support to the company's independent auditors regarding transactions and accounting processes to ensure results are properly stated.
• Manage the Philippines Accounting Operations Center (U.S. support) – 70%
• Hire, develop and oversee the continuity of Philippines accounting department employees
• Oversee the transition of various accounting processes from U.S. to Philippines
So now your employers accounting will come from overseas....

109   thomas.wong87   2009 Oct 11, 6:02pm  

here is the link...http://monster.com

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