Real Estate Crash thread

[oldnew_guy]

I would estimate around 20% of the folks we have interviewed for a technical professional position in the last year have stipulated they want to only work between 24 and 32 hours per week. Enough to get benefits, but not enough to be full time. We have had to pass. A few have mentioned recently purchased homes. So, IDK if its boomer parental support, or folks just happy to continue living paycheck to paycheck, but the financial PTSD from 2008-2010 has worn off for a bunch of people i guess.

Weird perspective.

Maybe that 20% has made a series of wise financial decisions that means they don’t need to work full time. Or have a spouse that works and they are prioritizing family/living life over driving a mouse in an office.

[Ted Striker]

No one really wants to work.

[The AD]

Maybe that 20% has made a series of wise financial decisions that means they don’t need to work full time. Or have a spouse that works and they are prioritizing family/living life over driving a mouse in an office.

Perhaps. I also think it's probably much more common for people in their 20s to continue to get support from their parents than it was in the past. It wasn't really too long ago where the default was "You're 18. Time to leave the house and either work your way through college or find a full-time job."

[Timberridge]

With the Fed blowing up asset bubbles everywhere, a good ol' fashioned recession may be needed to reset expectations.

[BmillsSkier]

This movie just flat out gets better and better with age.

Well hey Bob, Bob.

With the Fed blowing up asset bubbles everywhere, a good ol' fashioned recession may be needed to reset expectations.

No, no. There's gonna be a lot of people really pissed off to find out their 2 bed 1 bath tear-down isn't worth $1.1MM here in town.

[oldnew_guy]

Perhaps. I also think it's probably much more common for people in their 20s to continue to get support from their parents than it was in the past. It wasn't really too long ago where the default was "You're 18. Time to leave the house and either work your way through college or find a full-time job."

People applying to technical professional positions who only need to work 30 hrs per week are floating on their parents bank account? Doesn’t really pass my smell test, but okay.

We are talking about people who are doing math for a living. Not saying they are all financial wizards, but most of the ones I know are pretty squared away financially.

[The AD]

People applying to technical professional positions who only need to work 30 hrs per week are floating on their parents bank account? Doesn’t really pass my smell test, but okay.

We are talking about people who are doing math for a living. Not saying they are all financial wizards, but most of the ones I know are pretty squared away financially.

Right, but maybe part of that is they didn't need to live through the years of grinding debt while paying off student loans phase of their lives that is such a rich part of the American tradition. A lot easier to be in a nice financial place earlier in life when you aren't starting out in debt up to your eyeballs.

[fastfred]

There's a leisure class at either end of the economic spectrum and that spectrum is shifting.

tell me more
shifting like a shaft in the ass
or shifting like more people joining the ranks of the leisure class

I dislike working but I like nice things in life

[CarlMega]

I would estimate around 20% of the folks we have interviewed for a technical professional position in the last year have stipulated they want to only work between 24 and 32 hours per week. Enough to get benefits, but not enough to be full time.

This is what I do. I work 4 days a week. Salary but "32 hrs" so I get benefits. 1/5 less than I used to make. As Ferris Bueller said, if you have the means, I highly recommend it.

Life's too short to spend it slogging away esp if you don't need the income. My disposition is waaaay better these days. 4 work days and every weekend is a 3 day.

[The AD]

This is what I do. I work 4 days a week. Salary but "32 hrs" so I get benefits. 1/5 less than I used to make. As Ferris Bueller said, if you have the means, I highly recommend it.

Life's too short to spend it slogging away esp if you don't need the income. My disposition is waaaay better these days. 4 work days and every weekend is a 3 day.

It doesn't sound bad at all.

[Supermoon]

Heh.

I’m also offering $30 for semi skilled labor. Crickets.

And I’m not alone. Not one biz owner around here can find enough help.

$30/hour sounds like a lot, but it’s only like 60-65k per year. Where can you live off of that comfortably?

I don’t care what the job is, lots of people flat out couldn’t take it. Especially if you’re asking for some level of experience.

[dan_pdx]

It doesn't sound bad at all.

Yeah sounds amazing, I'd love to see that become a standard. As it is, I wouldn't even be laughed at if I floated that idea, I think the reaction would just be puzzlement.

[Brock Landers]

With the Fed blowing up asset bubbles everywhere, a good ol' fashioned recession may be needed to reset expectations.

Where?

[dunfree]

Where is the job located?

Out of all of those applicants how many actually have the basic life skills to show up to work follow directions have a positive attitude remain sober before and during work?

Bet most of them have tossed there name in the hat to appease the govt to say they are looking for a job so they can jeep getting those hand outs

Yeah I sound like an ass but try hiring somewhat competent people in today's world

People don’t want to work for you? I’d never have thought that

[dunfree]

Right, but maybe part of that is they didn't need to live through the years of grinding debt while paying off student loans phase of their lives that is such a rich part of the American tradition. A lot easier to be in a nice financial place earlier in life when you aren't starting out in debt up to your eyeballs.

a 4 year degree doesn’t generally produce grinding debt

[Core Shot]

a 4 year degree doesn’t generally produce grinding debt

At retail. $280k is a crushing Debt.

College prices suck

[The AD]

a 4 year degree doesn’t generally produce grinding debt

How do you know the positions in question are being filled by those with only a four year degree? In any event, whatever the debt is it needs to be repaid. Those without this burden are starting out on different financial footing.

[liv2ski]

My neighbor (retired Navy and cop out on disability) was bored so he picked up a part time consulting job a couple of years ago at $25 an hour. Quit after a few months as he said at $25 an hour it wasn't worth his time. So ya, many of us oldsters are not working for $30 an hour.

[skiballs]

^exactly, anything less $100hr is an insult.


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[californiagrown]

Are they older? If you have a pension and savings, you can go part time.

Mid 30s, no kids, just bought houses in Seattle metro. Unclear what their partners did for a living.

I'm not mad about it, just a little amazed that people feel so financially comfortable living (what I think is) so close to the edge. I probably shouldn't be surprised though. Also frustrated I can't find the help I need.


Maybe that will be me in a couple years after my wife wins a few more big cases. IDK. But I'm still smarting from graduating college with an engineering degree and having to work a bunch of part time gigs for a couple years to make ends meet due to the great recession.

[AdironRider]

This thread is a broken record.

[ghosthop]

Both jobs are in Baltimore.

To recklessly speculate, there is a large Hispanic population in E. Baltimore that was put in tight spot during the pandemic. Non-eligible for for unemployment, many of their jobs dried up, and unable to return to the country if they decide to leave.

You can still buy a rowhome in a decent neighborhood for <200k in Baltimore. Two people making 30k a year can cover the 15yr mortgage. That's changing fast with many of the DC jobs requiring significantly less in office; the train ride isn't so bad when it's a few times per month instead of 5x per week.

[RootSkier]

This thread is a broken record.

Bunny's a lot older, otherwise the same old thang.

[Danno]

This thread is a broken record.

This thread has been around about as long as your account, and you just now figured this out?

[Flounder]

Well, when I hear "retired Navy and cop out on disability", I get triggered

Benny is a broken record.

FIFY. Poor Benny, contemptuous of those with less, jealous of those with more.