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Old 03-11-2010, 05:26 PM
jdl964 jdl964 is offline
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is that accurate HowardRoark?

If so it may confirm some of my concerns.
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Old 03-11-2010, 05:35 PM
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Statewide employment between 11-13%. Counties report anywhere from 10.x to 14.x %.
Lots of homes for sale for months on end. Cars for sale. Small businesses closing. Large businesses cutting back.
Old established restaurants closing. Job creation? Ha!
The only green shoots I anticipate seeing will be in my garden in a month or so. Food prices on the rise. Gasoline at $2.75 today.
Hope and change? This government is driving us into the ground, whether by stupidity or intent. I chose intent.
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Old 03-11-2010, 05:45 PM
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Great just bought a $309,000 house for $140,000 from the bank. I work as an RN, there is as much overtime as I want for 1.5- double pay. Also work as a reserve Sheriff Deputy. Time on road is not paid, but many special assignments, side/security work avail. that runs arounds $20-$30 an hour.
Wife is an RN also she works one day a week, they call her 2-3 x week to see if she will pick up xtra shifts, sometimes she will if we need extra $. We are very blessed but have also made smart choices.
I hope everybody suffering out there finds fast relief. God bless all of them.
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Old 03-11-2010, 06:04 PM
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Sweet -- I'm non-union (salaried), so no 1.5 overtime here. $30/hour @ 40 hours/week = $62,400/year. If you go by the 3:1 debt-to-income ratio, your mortgage should be no higher than about $187,000 or so. But as you indicated, you've got a good deal and other stuff going on. We need to be cautious here. I wouldn't mind upgrading out of my current home. But without an uptick in income, career potential, etc. I think that would be foolish -- since I'd have to sell in a depressed market, as well as buy. If I'm going nowhere, I guess my real estate prospects are going nowhere also.

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Great just bought a $309,000 house for $140,000 from the bank. I work as an RN, there is as much overtime as I want for 1.5- double pay. Also work as a reserve Sheriff Deputy. Time on road is not paid, but many special assignments, side/security work avail. that runs arounds $20-$30 an hour.
Wife is an RN also she works one day a week, they call her 2-3 x week to see if she will pick up xtra shifts, sometimes she will if we need extra $. We are very blessed but have also made smart choices.
I hope everybody suffering out there finds fast relief. God bless all of them.
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Old 03-11-2010, 06:17 PM
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In the Ohio Valley lossing jobs daily the economy is in the gutter and lots more job losses predicted
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Old 03-11-2010, 06:21 PM
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Look at what Chicago is doing with pensions and look at what California is doing with bonds as well as Detroit. I can see things getting very ugly, very fast. Massive layoffs coming from the public sector and huge cutbacks in services.
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Old 03-11-2010, 06:32 PM
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Originally Posted by aramchek View Post
Sweet -- I'm non-union (salaried), so no 1.5 overtime here. $30/hour @ 40 hours/week = $62,400/year. If you go by the 3:1 debt-to-income ratio, your mortgage should be no higher than about $187,000 or so. But as you indicated, you've got a good deal and other stuff going on. We need to be cautious here. I wouldn't mind upgrading out of my current home. But without an uptick in income, career potential, etc. I think that would be foolish -- since I'd have to sell in a depressed market, as well as buy. If I'm going nowhere, I guess my real estate prospects are going nowhere also.
Weekend option pay add $9 hr. Night $4 an hr. Those are some of those smart choices. >36hrs considered OT. I did the salaried thing for years, overachievers/perfectionist who try to please everbody are not a good fit for that type of job. Usually wing up south of minimum wage I always thought yr house should be 1/4 of monthly income?
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Old 03-11-2010, 07:13 PM
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The state of California is a basket case, unemployment in the San Joaquin valley is above 25% because they are saving all the water for a small non native fish.

The economy in my area is tied to the local military base. They are moving a large number of jobs here due to the Brac decision and building up four large engineering test labs.

Since I am now the gray haired one (don't laugh, I still have some) my job is primarily to teach the newly hired folks the reality they don't teach in engineering school. Pay is not bad considering. I am all paid up and plan to retire to my ranch in the Ozarks mts in 4 yrs.
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Old 03-11-2010, 07:21 PM
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Default my 2 cents

In the Tulsa Oklahoma area it is layoffs of a lot of things. The police and fire department have either taken good pay cuts or as in police, lost about 95. Arrow trucking shut down and a number of businesses shutting down. As for unemployment I think it is about 8.5%. I do know that 3 of my sons and I have been out of work. I was laid off 11/24/09, the wife on 1/18/10, youngest son on 12/15/09 and the other two on 12/18/09. I ususally send out 25 to 50 resumes a week with only one that replied. The sons are mostly construction and have not found anything. Even McDonald's is not hiring here right now.

I keep hearing the economy is getting better but I sure don't see it. Maybe the government is getting bigger but from what I can see businesses are still letting people go out the door. With all these new taxes I don't see how it will be possible for the economy to pull out of a crash. The government just keeps printing and spending money like it was water.

Well I am just trying to hang on until everything crashes. Once that happens I thinks the banks and will all will have a lot more to worry about besides of evicting people.
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Old 03-11-2010, 07:29 PM
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20 minutes from detroit in another auto driven industrial town. i think that pretty much says everything


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Old 03-11-2010, 09:51 PM
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Check this out:
http://en.wikipedia.org/wiki/Debt-to-income_ratio

1:4 is better than 1:3. Depends on the state, I think. As always, the less you borrow the better. The less you have to pay rent, the better also.

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Weekend option pay add $9 hr. Night $4 an hr. Those are some of those smart choices. >36hrs considered OT. I did the salaried thing for years, overachievers/perfectionist who try to please everbody are not a good fit for that type of job. Usually wing up south of minimum wage I always thought yr house should be 1/4 of monthly income?
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Old 03-11-2010, 10:54 PM
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I continue to see decline here in central South Carolina. Unemployment officially around 10% - real % around 16. Crimes of frustration going up. In that I mean crimes that people in better times wouldn't have committed but under pressure people fighting, property damage and fuses are short. Grocery prices up maybe 25%. Gas prices on the rise. State threatening to publish in newspaper the names and address of small businesses that don't pay their taxes. Tax revenues across general population in decline. No jobs. Once unemployed it takes months to find even minimum wage job. Seems almost everyone is on welfare - SSI, food stamps, Medicaid, rent assistance. Construction jobs are nil except for little pockets here and there. Way less traffic on streets as people try to conserve gas. My area is the state capital, has several colleges and universities and has a large military base which provides government jobs. Also, a large group of military retirees with pensions and a large VA hospital. These jobs have insulated the population from many of the harsh realities some communities have gone through. That is over. The state government is talking about letting 2,300 workers go and all that don't lose their jobs will have mandatory no pay days and pay cuts. Our prison system is running 45 million in the red next year, 10 million this year and 3 million last year. State employees have received no raises or promotions in 3 years. Possible teacher firings when the new budget starts July 1. Teachers have been buying supplies out of their own money for years but spending more of their own money now.

It seems to me that the feds will reduce the amount they pass down to states and states will either increase taxes or reduce services. I would not be surprised to see 25 - 30% unemployment by this time next year in my state.
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Old 03-11-2010, 11:06 PM
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Quote:
The plural of anecdote is not data. I could say that my town is doing great. Would it make a difference?
Well, apparently the exchange of anectodes is valuable to some or they wouldn't have been asked for or provided.

When people get nervous, the narrative is as important as the numbers.
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Old 03-11-2010, 11:23 PM
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Default Alabama Gulf Coast

My area is between Mobile Alabama and Pensacola Florida. On the surface things look "ok". We are a tourist driven community. Summer vacationers to the Beach and Condo's, Snow Birds from the North in the Winter. Construction and Realestate started dumping in 2008. Speculators and un realistic growth projections caused massive over building.

We have been blessed and have weathered the downturn to date. I am a Custom Builder who builds with AAC (Hebel). I stayed out of the Spec market, and build old school, meaning my guys build from the ground up.

My point for the above information is this. I employ 12 men. A couple of them live in "The Hood" as they call it. I consider my men my extended family and vise versa. As I said we have been blessed. Over the past year one of them introduced me to a term "Vikings and Raiders". He started keeping me up to speed on the atmosphere in the Hood over the past year. He said that the Hood is out of work. They give him and a couple of the guys a hard time because they have had steady work. He said that the talk about going Vikings and Raiders has increased to an everyday occurance around the camp fire. He is looking to move soon. Class warfare is happening everywhere.

The point is: Desperate people will do desperate things to survive. We expect bad things from bad people, BUT Good people will do desperate things to feed thier family.
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Old 03-11-2010, 11:38 PM
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Amen on that, Jessee. Desperate people do desperate things. I am starting to see that in my state. Right now people seem to be in a kind of shock. Niceness on a small scale has returned and people seem to help those they know, like neighbors, elderly, disabled. But, people you don't know it seems we are more leery of. Lots of scams going around and people trying to beat someone out of whatever they have. As people become more hungry and shock turns into fear, I believe we will see more frustrations played out and tempers flaring. And everyone (not an exaggeration) I know is armed to some degree. The police in my opinion are going to get very busy shortly.

I hope your "family" gets to move soon. I would not want to be caught in an unfriendly environment when the fuse goes off.
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Old 03-12-2010, 12:58 AM
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Default California circling the toilet...

Everything you've heard about California?

It's true.

Here in the Central Valley in Northern California, we see the 'official' unemployment rate at 17-19%. The real rate (no longer looking, underemployed) is approaching almost 30%. Many businesses have left the state due to strict environmental and air regulations. The last auto plant in CA will close next month.

Homes are down to 1996 price levels. That is, if you purchased a home in 2000 and never took a second to get at your equity, you are currently underwater. Here, most big new homes were built after 2000, and many are hundreds of thousands of dollars in the hole. Most realtors, if pressed, will admit there will be massive foreclosures in the future.

On top of this, the silly liberals and environmentalists have quit pumping water to Central Valley farms. We are in our third year of drought, and they feel the Delta Smelt, an inch long fish, is more important than ag. This area feeds most of the country, or at least supplies most of the vegetables; look for food prices to skyrocket this fall when there is a greatly reduced harvest.

Also, the state passed their nonsense 'green' law last year. This has lost even more jobs, and is in the process of sending utility rates through the roof. The law says utilities must supply 33% of their energy by 'renewable' energy by 2020. That is, solar or wind. Electricity provided by water, such as turbines and dams? Not considered renewable, as liberals and envirofacists hate dams, and want most rivers 'returned' to their natural state.

The state is also trying to figure out how to pay the future pensions of state employees. Vast bureaucracy and strong govt unions - which control the Democratic Party - has passed laws allowing state and other public employees to retire at 50-55 years of age with up to 90% pay, and full medical benefits. Most here expect the state to raise taxes on the private sector to pay for these pensions.

So, the only issue beyond the control of the state is the drought. All this other nonsense has been brought about by the environmental lobby, govt. unions, liberals and Democrats, and the 'green' movement. As more people like me (college educated, business professional) are moving out, we're replaced with more illegal aliens and others who depend on entitlements to survive.

I am prepping in place for the time; I hope to be away from here within the year, though.

Wish me luck...
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Old 03-12-2010, 03:11 AM
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Oh gosh, Medieval Man. I wanted to cry reading your post. What have they done to the beautiful state of California?!!! I am so sorry.
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Old 03-12-2010, 04:51 AM
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California is SKA-ROOD...
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Old 03-12-2010, 05:08 AM
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Originally Posted by Woodchuck View Post
Considering your location, those were probably purchased by US government employees who feel secure despite the depression.
or welfare recips.....
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Old 03-12-2010, 10:10 AM
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It's not a liberal vs. conservative man-in-the-street battle of ideologies. I Googled around recently and noted that Los Angeles County ALONE has like 262,000 millionaires (http://en.wikipedia.org/wiki/Millionaire), more than any other county in the US. And as much as we like to cast people like Pelosi or Feinstein in a liberal vs. conservative mold, they're actually among the wealthiest members of Congress (http://articles.sfgate.com/2004-06-2...ial-disclosure). Why do people keep insisting that liberals or conservatives are in charge? Big Money is in charge. Whatever lipstick they put on that doesn't really matter: just follow the money.

The US has been a Boom-Bust country throughout most of its entire history: furs, lumber, industry, gold, IT. Now it's real estate. But the chief difference with this boom-bust cycle is that is the wealth wasn't generated by trapping, mining, cutting, or building tangible things. In this case, it was basically stolen (as it undoubtedly was during the Great Depression). That is, laws were designed to prohibit people from gaining a critical mass of real equity, encourage greed, prop up prices, etc. There are two ways to take money away from people, it seems. One is by robbing them directly, the other is by pushing prices way beyond their reach, by non-market dynamics. But in each case, the people are rendered poorer for it.

This seems to be the case in California on large-scale. Eventually one of these states will bankrupt itself in a really nasty way and beg the federal government for a bailout. And eventually other states, who are net losers on federal money, will get awfully angry... Therein lies great danger to our national integrity.

Quote:
Originally Posted by Medieval Man View Post
Everything you've heard about California?

It's true.

Here in the Central Valley in Northern California, we see the 'official' unemployment rate at 17-19%. The real rate (no longer looking, underemployed) is approaching almost 30%. Many businesses have left the state due to strict environmental and air regulations. The last auto plant in CA will close next month.

Homes are down to 1996 price levels. That is, if you purchased a home in 2000 and never took a second to get at your equity, you are currently underwater. Here, most big new homes were built after 2000, and many are hundreds of thousands of dollars in the hole. Most realtors, if pressed, will admit there will be massive foreclosures in the future.

On top of this, the silly liberals and environmentalists have quit pumping water to Central Valley farms. We are in our third year of drought, and they feel the Delta Smelt, an inch long fish, is more important than ag. This area feeds most of the country, or at least supplies most of the vegetables; look for food prices to skyrocket this fall when there is a greatly reduced harvest.

Also, the state passed their nonsense 'green' law last year. This has lost even more jobs, and is in the process of sending utility rates through the roof. The law says utilities must supply 33% of their energy by 'renewable' energy by 2020. That is, solar or wind. Electricity provided by water, such as turbines and dams? Not considered renewable, as liberals and envirofacists hate dams, and want most rivers 'returned' to their natural state.

The state is also trying to figure out how to pay the future pensions of state employees. Vast bureaucracy and strong govt unions - which control the Democratic Party - has passed laws allowing state and other public employees to retire at 50-55 years of age with up to 90% pay, and full medical benefits. Most here expect the state to raise taxes on the private sector to pay for these pensions.

So, the only issue beyond the control of the state is the drought. All this other nonsense has been brought about by the environmental lobby, govt. unions, liberals and Democrats, and the 'green' movement. As more people like me (college educated, business professional) are moving out, we're replaced with more illegal aliens and others who depend on entitlements to survive.

I am prepping in place for the time; I hope to be away from here within the year, though.

Wish me luck...
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