On a side note, if you’re paying PMI you’re getting screwed.
What percentage of principal is PMI? Any ideas?
Not sure on the PMI question, but if you put down over 20% you typically avoid paying it.
Really, the biggest legal racket in the States is title insurance…please pay me $5k to ensure that the person selling you the house is actually the owner of the house. I would like to see some information on how often these title insurance companies pay out claims. Then, I would like to start a title insurance company.
i thnk 3 - 4 times is right on. much beynd that and your asking for trouble. This was one of the big problems in CA, if you lived in the bay area before the bust, you needed to have 2 incomes making 125k a year to meet this level. at first people who had lots of equity in existing homes had no trouble but soon fewer people could afford the homes and many used loans with inital below market or even neg amort loans so they could afford the pmt.
this is why home prices in the bay area are still going down. things will not get better until all the air is out of the bubble. sadley our governmet is doing all it can to put a patch on the bubble and break out the air compressor
125k is nothing in the Bay Area. That’s what a manager or a software engineer in their 20s would get at a tech company. The hierarchy at a tech co out here is usually manager->sr manager->director->sr director->vp
sr director ~250-275k
It’s still much more than the average person makes though.
LOL, right everyoe is making 250-275. maybe that explains the high unemployment rate in CA.
Did I say “everyone” you twit? That is Sr Director pay. The unemployment rate in Silicon Valley in tech is basically zero with thousands of unfilled openings now. Companies are hiring like crazy if you have skills.
Don’t compare Modesto or Stockton to SV. Those are areas where stupid people who shouldn’t have been buying homes and didn’t have the means where given loans.
wow, you are a sad little angy man. please do us both a favor and never reply to one of my posts in the future
If you thought a Sr anything in SF made only $250k/yr you’d be angry too. That’s amazingly low.
It does depend on the size of the firm, but if you work for a large asset manager, or a small (very) profitable one, you should be easily clearing $300k/yr if you’re VP/Sr anything.
Don’t be embarrashed about the money we (should) make. We didn’t into this profession for charity. $150k sucks for anyone and $250k sucks for SF and NY. You should demand more.
Those numbers were for the tech industry if you actually read my post. Not IM.
I’m poor.
Obviously I did not. You’re still too angry. I recommend a full colonic.
I believe the census, even with dated info, over youse guys. Highest HOUSEHOLD median income in the bay area is in Silicon Valley at about $78k. Dated info as of 2008, but I prefer this to internet rumors.
http://en.wikipedia.org/wiki/San_Francisco_Bay_Area
I find that everyone tells everyone that their salary is about 30% higher than it actually is (or just given their best year as the basis if they are in a commission/bonus oriented role). My fiance is an MD at a major headhunter, so I can confirm pretty much any tech or finance and accounting salary since she negotiates many of them and has look through into HR.
78k median? I believe that. Do you understand what the definition of median is? It means half are above and half are below. It’s not an average. There are a sh*t load of people in the service industry here. Waiters, hotels, cashiers,etc. I have a friend who is a female cop in San Mateo who is only 35. She is pulling down 200k this year with OT.
It’s funny to me how defensive and angry people get on this forum concerning comp. Investment management pays very well. Tech pays well as well. Put yourself in the position to profit from this. “Big Data” is a pretty new concept and a very hot space to be in now. Everyone is either doing it now or wants to. I saw this a while ago and made the switch. Sitting at your desk whining about what everyone else is doing is the fast track to nowhere.
Blake McCallister wrote: “125k is nothing in the Bay Area.”
Blake McCallister wrote: “78k median? I believe that.”
Blake McCallister wrote: “I have a friend who is female cop in San Mateo who is only 35. She is pulling down 200k this year with OT.”
Pics or she doesn’t exist, “you twit.”
Thanks for proving my point. Now back in your parent’s basement.
Blake, there is something wrong with you. If one person thinks you are douche bag, maybe it’s just them. If everyone thinks you are a douchebag, most likely you are a douchebag.
" ~Liive. Laugh. Love.