Comments on: Real Homes of Genius: Today we Salute you Huntington Beach. If you Walk Away, you Still Have the Ocean.

By: David Brodbeck

David Brodbeck — Wed, 26 Mar 2008 23:36:26 +0000

Age discrimination is rampant in IT. Technology companies would rather badger the government to allow more H1B visas than hire anyone over 40, and they’ve created the myth of a shortage of “qualified workers” to make their case. This is one of the big flaws in the idea that everyone should just work longer to get around the unaffordability of retirement — what if no one will employ you?

By: Crazy Cats

Crazy Cats — Tue, 25 Mar 2008 02:10:03 +0000

I have some observations from my neighborhood in west LA near Beverly Hills and wondering if anyone could answer some questions.
First, lots of homes for sale but no sign out front except for Sunday. Is this a strategy to hide the fact that there is a lot of supply or are most home buyers savvy enough to look on zillow or other sites?
Second, homes have a sold sign out front that says “in escrow” but weeks later, the house if for sale again. Did buyer not qualify at the last minute or is it shady dealing by the bank and/or realtor?
Third, homes in my neighborhood have always been pricy, but 900K for a tiny 1 bed, 1 bath 70 year old starter house is outrageous. By contrast, my in laws live in a huge house in upscale Marin County, CA that cost less.
Lastly, most of the homeowners in my hood are 50+, will we see a huge tide of homes for sale in the upcoming decades due to aging population?
PS I am a renter and got a good deal but rents for this area have risen 60% over 5 years. Does that seem like a lot to anyone else?

By: Heath Coker

Heath Coker — Mon, 24 Mar 2008 21:38:09 +0000

I was just looking at the title history of a house I just inherited. In the chain of title the sale to my benefactor was below what the seller paid for it. Meaning it was last old at a loss - 20 years ago. Could it be that the 5 years of record increased values, and the longer distance between today and the last value correction has just caused more people to forget the late 80s and early 90s? Also, since that time, NAR and US govt has been pushing ownership, so more people got involved in ownership than renting. With the media pushing being “rich and famous” on more tv stations than any 40 year old person grew up with; and with more “stuff” available online than any library ever had; the new social goal of riches and wealth on the runway or by flipping has gotten more press than the cycles of business and the realities of realty. (Hey, that sounds like a blog headline.)

By: Teri Pittman

Teri Pittman — Mon, 24 Mar 2008 20:20:34 +0000

Couldn’t agree with you more. I’m over 50 and have gone from working in an IT department prior to the tech bust to doing tech support via phone. I’ve yet to make as much per hour as I have been able to make on UNEMPLOYMENT from the previous job. I’ve seen way too many experienced people who have been pushed down into low paying jobs, with no way to use their experience and certainly no way to fund retirement. I don’t have a lot of sympathy for this guy, but do understand why he is stuck in a low paying job now. That’s all he can get.

By: Andy

Andy — Mon, 24 Mar 2008 07:55:16 +0000

You’ve crashed and burned. Assets and liabilities zero. Find cheap housing and steady check. Lesson learned, live with in your means. In 2 or 3 years when a house in the OC is 300 to 350k put 5 to 10% down. I’m 44 and doing ok, but that plan would put me at 47. By 60 I’d have something to put on my asset side. Housing will drop till the people who screwed up can afford to buy again, minus the Wolf stove and fancy kitchen counter top (which is going to be the time stamp of this era, like cottage cheese ceiling were of the past).