California Was Among States With Record Unemployment

[Toastedturningtidelegs]

He is talking about the tail end of my post in reply 15 on this thread.

Oh ok! I must have missed that.

[bkg]

No you didn't...but it seemed to be implied when you said this:Ok lets say it doesn't take two incomes to sustain a mortgage,what happens when the person making the mortgage payment loses his or her job. Making a purchase the size of a house involves risk no matter what your income. Things happen to people bkg! Things that are out of their control at times. Illness,job loss,divorce,death.....life is risk. You cannot plan for everything. I stand by what i said earlier...I pray to God you never have to eat your words brother....they are awfully bitter going down.  

Dude - I'm single. I have one income and have already acknowledged the risk. If you have two incomes, why not buy a house that ONE of those incomes qualifies for rather than both? That way, if one loses their job, the second income will have provided a) opportunity to build a rainy day fund and/or b) a greater chance of having a sustainable ability to make the mortgage.

I don't understand why you're so defensive. I don't care how you purchased or why - it's none of my business. At the same time I ask you this: what is a more bitter pill to swallow? Me eating my words or you losing your house if one spouse loses a job and the other spouse cannot sustain house payments?

Do you really think it's a financially better decision to buy a house on both incomes than one? If so, please explain.

[Toastedturningtidelegs]

Dude - I'm single. I have one income and have already acknowledged the risk. If you have two incomes, why not buy a house that ONE of those incomes qualifies for rather than both? That way, if one loses their job, the second income will have provided a) opportunity to build a rainy day fund and/or b) a greater chance of having a sustainable ability to make the mortgage.

I don't understand why you're so defensive. I don't care how you purchased or why - it's none of my business. At the same time I ask you this: what is a more bitter pill to swallow? Me eating my words or you losing your house if one spouse loses a job and the other spouse cannot sustain house payments?

Do you really think it's a financially better decision to buy a house on both incomes than one? If so, please explain.

Yes! It is optimal to do it that way......we don't live in an optimal time as you well know. Like i said things happen to people. Spouses empty accounts and take off,you lose your job to downsizing,you have a divorce and lose your ass like most men ,your spouse dies. I am not being defensive and i'm not speaking of my own situation. I got the feeling from the tone of your posts that you are a very black and white thinker....it doesn't seem to allow for things outside a persons control. As far as you eating your words or someone losing their home due to unforseen circumstances....Well they are both equally bad....i don't wish either of them on anybody. These things i have spoken of have and do happen to very responsible people. This isn't just happening to moonbats and people foolish with their money. I just ask you to remember that because none of us are safe from it anymore.

[bkg]

Yes! It is optimal to do it that way......we don't live in an optimal time as you well know. Like i said things happen to people. Spouses empty accounts and take off,you lose your job to downsizing,you have a divorce and lose your ass like most men ,your spouse dies. I am not being defensive and i'm not speaking of my own situation. I got the feeling from the tone of your posts that you are a very black and white thinker....it doesn't seem to allow for things outside a persons control. As far as you eating your words or someone losing their home due to unforseen circumstances....Well they are both equally bad....i don't wish either of them on anybody. These things i have spoken of have and do happen to very responsible people. This isn't just happening to moonbats and people foolish with their money. I just ask you to remember that because none of us are safe from it anymore.

I agree and disagree. Black and white? In many ways, yes. I'm not trying to force my views on anyone, just saying it's safer and CAN be done. Yes, shit happens. My divorce cost me almost $100K when adding in the value of the house - I know the impact. Yes, a person can die. Yes a person can steal. But overall, the situation is still much more stable if only one income is necessary.

The "we don't live in those times," well, I think that's something that every generation says. 

[Toastedturningtidelegs]

The "we don't live in those times," well, I think that's something that every generation says. 

Yes but not every generation has had to over come a raving socialist/communist as their CINC!

[bkg]

Yes but not every generation has had to over come a raving socialist/communist as their CINC!

Certainly not one this outspoken, overt or to chicken shit to tell the truth... but I think if we look back, there were a few people in the early part of the 20th that may have qualified.

[Mike220]

Certainly not one this outspoken, overt or to chicken shit to tell the truth... but I think if we look back, there were a few people in the early part of the 20th that may have qualified.

**cough... FDR... cough** 

[Toastedturningtidelegs]

**cough... FDR... cough** 

Mike...lets remember Lord Zero isn't done yet!

[Baruch Menachem]

I think 0bama is pretty much done.  They can't pass anything before the end of the year.  I think Xmas sales this year are shaping up to be pretty poor.   There will be huge tax increases at the start of the year, both personal and employment.  Mid January there will a huge amount of noise about what to do about jobs.   I kind of think that 0bama will wind up a cipher, as he has already passed most of the work over to Nancy and Harry anyway.   And even they will have to face reality.

[Ladywinter]

I think 0bama is pretty much done.  They can't pass anything before the end of the year.  I think Xmas sales this year are shaping up to be pretty poor.   There will be huge tax increases at the start of the year, both personal and employment.  Mid January there will a huge amount of noise about what to do about jobs.   I kind of think that 0bama will wind up a cipher, as he has already passed most of the work over to Nancy and Harry anyway.   And even they will have to face reality.

From your lips to God's ear!  I hope BO is all about DONE. 

You forgot to mention that next year we will also be seeing the bloody, gory increase of foreclosures.  Better get ready to see more, and more "tent cities" popping up or folks moving in with their relatives...

[Celtic Rose]

From your lips to God's ear!  I hope BO is all about DONE. 

You forgot to mention that next year we will also be seeing the bloody, gory increase of foreclosures.  Better get ready to see more, and more "tent cities" popping up or folks moving in with their relatives...

Yup, the "due date" for foreclosures keeps getting pushed back, but eventually it is going to come to a head.