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What is the plan going forward?

Original post made by What is the plan? on Nov 4, 2010

Well the dust has settled for the most part on the elections both nationally, statewide, and locally. Everyone is aware of the California economic situation and I was just wondering now that we have a Democratic Governor, Lt. Governor, Controller, Treasurer, Attorney General, and most of the Legislature what the plan is to correct our economic problems in this state. I would be very interested in knowing how the problems will be corrected. I have now been out of work for almost 2 years and during the campaigning all I heard from both sides were attacks on the other with no plan of action to address the problems. Does anyone know?

Comments (16)

Posted by voter, a resident of Another Pleasanton neighborhood
on Nov 4, 2010 at 2:28 pm

To what is the plan: I'm so sorry to hear about the job situation - I know how hard this can be.

I doubt there is anything politically that is going to help you right now unless you are looking for jobs in the public sector. Brown will obviously be helpful on the welfare side, so if you're in need of help, that is less likely to be cut. California is in a lot of trouble, but you know that. QE2 is designed to lower the value of the dollar and raise inflation, so make sure that you are protected from this.

Perhaps the question should be "what is your plan"? After two years, you might want to consider a change of scenery, there may be better job prospects and lower day to day costs in a different state. Depends a bit on whether you rent or own and if you own if you are in negative equity. If you rent, I'd seriously think about where you are living so you are positioned well to get a job.

If your work experience is in the private sector, make sure you're not pricing yourself out of the market - many people are making much less than they used to but it's still a job. There is no sense in holding out for what you used to make, I think in many places it's not going to happen because employers have tons of competitors for each job and they are under pressure too.

Good luck with everything, I know how frustrating this can be - working full-time to get a job and feeling like it's going nowhere. These are just tough times and something will come up. I know everyone says this, but networking does seem to be the key.


Posted by What is the plan, a resident of Danbury Park
on Nov 4, 2010 at 4:26 pm

Thank you, I am weighing my options because it does not appear that things are going to look good for some time in this state if ever I guess. I have a problem with my home. I currently owe 150K more than it is worth because of the home collapse. My sons worked at NUMMI and left for other jobs with Toyota in Texas and Kentucky respectfully and are both doing extremely well in those states. I did not want to walk away from my home but at this point I guess I must consider it as an option.


Posted by voter, a resident of Another Pleasanton neighborhood
on Nov 4, 2010 at 5:37 pm

A couple of things you might want to consider. Have you talked to your bank about a short sale? Even if they said no before you may want to try again. With "foreclosure-gate" banks might be happy to get property off their books, especially if you bought between '03 and '07. Perhaps anyone in banking who reads this may be able to advise the best way ahead on this.

Is your house rentable? I've heard people talking about rents going up a lot aruond here because people who have walked out on their homes can't buy so there is a lot of rental demand. Maybe you could rent out your house here until prices go up and you could rent somewhere where there is work?

The quantitive easing that the government is re-embarking upon may lift house prices in the medium term. No guarantees though, it may not work, many think it won't. If it does you will get out of negative equity, but you will also see high inflation elsewhere in your life. However, this might be OK for you because if you can sell your CA house, you'll be able to buy a similar place in Texas or Kentucky for much less than here.

Ask your sons about the politics in the states they are working in - there could be more problems ahead and you'll want to be somewhere that feels sustainable and that has the kind of work you're good at and that will help you move forward. Again all the best.


Posted by What is the plan, a resident of Danbury Park
on Nov 4, 2010 at 6:48 pm

Voter,

Thank you for the response. Yes, I have inquired about the short sale and they asked it I would pay them between 125 and 150K which I do not have. My sons are really enjoying being in Texas and Kentucky respectfully. They say Toyota is a wonderful company which values their employees and say they are very proud of the work they do. Paul says that Texas has zero income tax and sales tax in the San Antonio area runs about 4%. He purchased a home and said it was quite reasonable and property taxes are low. I believe he paid $250,000 and got a 3600 sq ft home. Income tax in Kentucky is 6% and he also purchased a home and it had a basement. This is very hard for me since I have been here since 1956. I really have a hard time seeing the terrible condition our state is in and what it used to be. I went to college at Cal State Hayward and paid $63 dollars for 16 units....basically free because California was a magnet for industry and we had tons of them. They are all gone now and I am afraid I as well as many others are not far behind but i guess that is life. I still do not understand how the state can get out of all of this. I really would like to stay.


Posted by a reader, a resident of Another Pleasanton neighborhood
on Nov 4, 2010 at 9:29 pm

"...and property taxes are low."

When I looked at going to Austin two years ago, property tax rates were about double what they are in Pleasanton. However, the houses cost about half as much, so the mortgage payments would be a lot lower.


Posted by Realist, a resident of Pheasant Ridge
on Nov 5, 2010 at 6:46 am

The plan is the same one that got us in this mess in the first place. More taxes, "green" jobs and more regulation driving business out of California. Ms. Boxer campained on creating new jobs...here in CA and not China. Does anyone really think she cared about anything other than her own re-election, she has already forgot about us in the "lower class". The rest of them are all the same. We are a Governement Union run State and they care only about themselves not you in your situation "What's the Plan" you can lose everything and they will be happy to retire at 55 at 80% of their salary, they are the most selfish bunch alive...and yes, this includes you teachers.

My recommendation to "What's the plan" pack up and move to Texas. It's going to be brutal here.


Posted by What is the plan?, a resident of Danbury Park
on Nov 5, 2010 at 6:54 am

Thanks to those of you who have made helpful comments. I am fortunate in one respect. I purchased property years ago in the Dallas area not San Antonio and I consulted with a real estate attorney here and he said that since I have never refinanced my property in Pleasanton I can walk away and they cannot come after me financially in anyway. He said that had I refinanced then the provisions of law allowing for my financial escape would have been removed. As stated before I do not want to do this but I cannot see how we are going to be able to thrive or even survive here in this climate.


Posted by WOW, a resident of Another Pleasanton neighborhood
on Nov 5, 2010 at 8:09 am

Voter-
Your posts are so thoughtful and truly helpful. GIves me faith in the ability of the Forum to help and in my neighbors. Reading this thread was a wonderful start to my day.


Posted by anna, a resident of Pleasanton Valley
on Nov 5, 2010 at 8:58 am

WOW, I agree with you re: voter. Very well thought out, helpful comments w/o any mudslinging! Great job voter and good wishes to Whats the Plan?


Posted by Fred G., a resident of Another Pleasanton neighborhood
on Nov 5, 2010 at 10:22 am

California's problems won't be solved. Now that you have a wacko left-wing loon as governor there is nobody there to counterbalance the left-wing loon legislature. They will go on a wild spending spree much like Obama and Congress have done, maybe worse. There's a very good probability that the state will go bankrupt and be asking Obama for a bailout - which, with the Republicans controlling the House, they will not get (thank goodness). It's going to be left-wing loonism right off the cliff. The downside of that is it will cause a worldwide economic crisis that will make Greece look like small potatoes.


Posted by Chuckling, a resident of Another Pleasanton neighborhood
on Nov 5, 2010 at 11:34 am

Well anna and WOW, good ole Fred G. didn't want your comments to leave this thread on helpful, well thought out note did he? Back to the status quo! LOL


Posted by Joni, a resident of Del Prado
on Nov 5, 2010 at 11:38 am

I have been checking in on this blog for the last day off and on and have had a little time to reflect on what has transpired. My folks came to California from Chicago, Illinois in the early 60's. My dad had been stationed on Treasure Island and Moffitt Field during WW2 and fell in love with the area. When they had the opportunity they left behind my grandparents on both sides and all of their siblings and moved to California because at the time it offered opportunity for jobs, advancement, plentiful land, and affordable housing. They came to California and started a family, bought a home, and flourished because at the time California had created a great environment for business and with the business came prosperity. California became the golden state and we actually had free college education here in this state because we were floating in revenue from business. At some point we decided to kill the golden goose by offering all of our social programs and great salaries to our government workers. The businesses left but we are still left with the huge entitlements. Now we have a situation like described able that we have hardworking american's leaving the state for the opportunity provided in other states........as my dad said a few years back, "we have turned California into Chicago!" Unfortunately, I think our end here is going to be catastropic and who will be left? Look at all of the good folks leaving the state.


Posted by Cindy, a resident of Danbury Park
on Nov 5, 2010 at 4:21 pm

I believe the plan is very simple going forward. Put in all the things in the budget which makes the unions happy and when there is not enough money for the teachers and other pension people then just raise taxes.........that is the plan


Posted by voter, a resident of Another Pleasanton neighborhood
on Nov 5, 2010 at 4:24 pm

To wow and anna, thanks :) I think a strong community is so important moving forwards.

To what't the plan: Your comment is so haunting: "They (the jobs) are all gone now and I am afraid I as well as many others are not far behind but i guess that is life. I still do not understand how the state can get out of all of this. I really would like to stay".

Joni's insights left me feeling the same way. Both are interesting stories, it is sad for Califoria.

Moving fowards I was happy to hear that you have a backup plan in Texas. I'm a big believer in back up plans, I'm working hard on one myself!

If you want to stay of course stay. Perhaps give it 6 months if you can. QE2 may shake things up and give you a break either house or job wise.

It's clear however that the government is just blowing more bubbles and even if this one takes off, I strongly suggest getting what you can from it, protecting yourself and not trusting it too much. I recently read an analogy that seemed apt - the Fed are filling the bathtub with water again, but they forgot to plug the hole . . . There's every chance this bubble is too heavy to take off.

In the end, manufacturing is gone and it will take a long time for it to come back and be competitive enough in a global market to be profitable.

I read an article about the unfunded pension and healthcare obligations facing many cities and counties in the US and the places that are hurting are going to get much worse. It will be very difficult to get out of existing obligations. Politicians are trying to ease things back for new employees, but it's way too late and we've got years of paying to do. These places will have to heavily tax the people still working to pay for these unfunded obligations or go bankrupt. Unfortunately for these places, people aren't tied to them and can move. The consequences are scary for those that stay.

A suggestion if it's possible - what about taking a break, get away from it all here and visit your son in San Antonio for an extended break? Maybe stay with him for a little bit and / or stay in a rental place for a few days /weeks so you can see what day to day life would be like there. Maybe try to get an interview or two to see if there are realistic job opps. It could be with a view to selling the Dallas place and purchasing there or somewhere else you like? Then come back refreshed, talk to the bank again (they may change their tune) give it an all out job effort and see what you think about here. Think forwards about where you will be happiest and most productive over the next few years and then decide the best path forwards. Good luck - sounds like you're making some big decisions and I hope things work out for the best!






Posted by Terrible, a resident of Del Prado
on Nov 5, 2010 at 8:10 pm

The situation in this state is deplorable and I am afraid for the future and I mean near future. The hardworking of this state are leaving in droves for better opportunity, just like the businesses before them. We must take back our state from our leadership but I fear it is far to late in the game and the die is cast as they say.


Posted by Cholo, a resident of Livermore
on Nov 6, 2010 at 3:20 pm

I am pleased with the election results! The voters have spoken and if you're so unhappy with the voice of the people, go back to where you ancestors came from.

get goin' crybabies...


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