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Home > Chomping at the bit to SPEND money.../Scary Tales of GIANT mortgages

Chomping at the bit to SPEND money.../Scary Tales of GIANT mortgages

June 2nd, 2008 at 01:54 am

Well, May was an insane spendy month and june should be rather calm (knock on wood).

Credit card closes Tuesday and I count all the purchases until then to May. All the purchases will have to be squeezed into my June paychecks. Not much more room...

So we are fine with the 2 more no-spend days ahead.

BUT our camping trip is fast approaching and we need to purchase some supplies.

WE tend to approach things slowly. Whereas some people might buy an aresenal of camping equipment on a charge card (newbie camper) we figured we would start with a cabin and prepared meals. Our cabin has electricity too.

So it means all we really need is sleeping bags. Even that is questionable as it won't be very cold. Some warm clothes and blankets will probably do.

I was thinking of bringing my yoga/exercise mats for the kids to sleep on, on the floor. Cots provided, but it will be tight and the kids still roll out of bed too much. I am thinking with a little cushion they will be fine on the ground.

I found some decent sleeping bag deals on amazon today, with free shipping. I am very pleased.

Dh has some old sleeping bag I am wary of. I would prefer to buy a new one myself. For him he has a very nice cold weather one.

I still haven't found one - but I'll keep my eye out.

I just saved a bunch of stuff to my shopping cart. Will buy Wednesday...

I found a nice folding chair at a decent price but will shop around a bit.

I found some decent/cheap lamps, though we may have enough flashlights around, for this trip. No lamps needed with the electricity, though would be a good purchase for the long run.

I think if the trip goes well we will buy a tent next year. we may stock up on more cookware and that kind of stuff in the future. As we slowly build a camping arsenal.

The best is today grandma slipped us $60 for gas. Completely unexpected. That will pay for the kids' sleeping bags and a couple of lamps, if we go with that.

I have been wanting a travel chair for a while, so may fund it from my allowance. Not sure if dh wants one too. I should probably shop around a bit more as well.

We have been trying out the cheapies but they are REALLY uncomfortable. So not worth it. The one I found was $40 but had nothing but good reviews.

Thinking on it.

I will peruse Craigslist for all this stuff before I make any final purchases.

I also need new workout shoes (put it off to purchase after Disneyland. Boy my shoes are trashed after that). I think I found some at zappos.com. I LOVE the site with the detailed reviews and abundance of wide shoes. I have been shopping around the local stores and GIVE UP. Will probably spend $50 on a nice pair of shoes. Haven't replaced them in a couple of years, so it is time.

Finally, California has a new law in one month - no more cell phone use in the car without headsets.

Dh bought me one for my birthday but it sucks.

So I was perusing a bit. I think I will ask dh to do some research there. I want something a little more comfortable, and that I can hear.

June may be a little spendy but the $60 from nowhere helps immensely.

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Which reminds me, I was cleaning up a bit and found a note that our estate lawyer (or family friend, I should say) had moved.

I was going to be nosy and zillow it but had never gotten around to it.

Until today!

Oh my!!!

From being nosy I gathered that they sold their 1500-square-foot home on 1/10 acre for $600k (little more than they paid in 2004).

& they purchased a 2000sf home a good ways out, for $800k. Lot size is twice as big, which is actually a good size for the region.

WOW!

Did I mention how old they are? Like 28?

As usual this stuff just leaves me dumbstruck.

Obviously I wouldn't have a clue how they can afford a home like this. Though I give them points for moving further out and scoring both land and square footage.

Dh's sister paid about that much for a 1200-square-foot, OLD house.

This is our experience with our friends back home. We just scratch our heads. Color us LOST.

On the flip side, I ran to an old college friend at a seminar quite a few months back. She kept asking when/if I may move back to the Bay. (As did dh's friend who lived in like a million-dollar house. You are like - "Hello!!??!!").

Anyway, I have mentioned the extreme shortage of qualified staff in CPA firms, and therefore the huge incentive to bring in qualified people. My last firm offered a $10k bonus if you recruited someone, and that was before it got really bad. (Probably a better chance of winning the lottery then finding someone qualified who would want to work at that job).

But anyway, she started courting me for her firm and seemed very confused when I made it clear we weren't moving back anytime soon. "Why wouldn't we move back?" she asks. I say, "Um, because we can not afford to live here."

She then tells me (she has to be at least 30), oh, well she was still living at home with her parents.

She was apparently clueless how maybe it was a bit too expensive for a young family to stay in the area. Though obviously she was choosing to live with her parents for some reason.

That is pretty much the gist of my experience. Either own a home for $700k+ or live with the 'rents.

& then look at us all weird like why would we ever move????????

Is it just me, or is this some major, insane bizarro world? Wink

I know, I know, it's just the usual. My jaw STILL to this day hits the floor every time I found out a relative or friend paid $500k+ for a HOUSE. You think the shock would wear off at some point.

I have a childhood friend who rents in San Francisco and makes about what I do. She is the only one I understand on some financial level. Her rent is probably bigger than my mortgage. But she doesn't have a family to support either. We do sit around and wonder how the hell our friends are affording these real estate monstrosities, in their 20s. We assume they are in WAY over their heads while we HOPE they have come into some money from family or something. I really haven't a clue...









3 Responses to “Chomping at the bit to SPEND money.../Scary Tales of GIANT mortgages”

  1. baselle Says:
    1212465810

    The tide is going out. I guess you will find who is swimming naked. And it ain't gonna be fun. Skinny dipping is fun. This is skinny dipping in Lake Superior. Big Grin

  2. Livingalmostlarge Says:
    1212497694

    You will laugh but most of my friends rent in the bay. One bought but it was sort of nuts. Studio for about $400k+. It's in the city though within the 9x9 radius, not even the bay, but actual SF.

  3. monkeymama Says:
    1212511342

    That's the thing. *When* we bought it made more sense to buy. But I know in recent years the tide has shifted.

    $400k+ for a studio, or $1500/month rent for a studio? I'd take the rent...

    Hey, sounds like a good price for SF. Wink

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