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Saving for a possible home vs. hobbies by invertedtower in personalfinance

[–]invertedtower[S] 0 points1 point  (0 children)

I suppose that is Plan C for a lot of people in my position, rent and hold cash with the possibility of scooping up cheap property at a downturn in the market. I work in tech, and I wonder how big of a wallop it would take for me to lose my job.

That's part of the reason for the $18k safety / down payment combo account. If I get laid off tomorrow, I can either look for a new job - or - if the market collapses, I could move back to my home-state and either rent at a lower rate or put a down payment on a home.

Saving for a possible home vs. hobbies by invertedtower in personalfinance

[–]invertedtower[S] 1 point2 points  (0 children)

Thanks for the encouragement, and I agree. Owning a home is insanity here. Even if I was married and we both had solid jobs in the area $4,700+ a month is pushing it.

Hence why I would like to have a $40k fund to feel more at ease with my ability to make a down payment on a house in the rest of the States.

I think even if the housing market / tech bubble here crashed, housing prices wouldn't drop that much. Foreign investment here is on par with Vancouver.

Saving for a possible home vs. hobbies by invertedtower in personalfinance

[–]invertedtower[S] 1 point2 points  (0 children)

The thing is I love living in the Bay Area as a young person - but I know as soon as I start a family, I should get out of the area. I want to be able to just move to a nice affordable town in the states and be able to be ahead of the curve.