I don’t want to live in the country where people are devalued because they pursue a passion or talent at the expense of being able to fit nicely in to all these financial bubbles that get thrown around in this thread.
Housing market
- Thread starter simply1
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I don’t want to live in the country where people are devalued because they pursue a passion or talent at the expense of being able to fit nicely in to all these financial bubbles that get thrown around in this thread.
They're free to if they want to.
But don't make a society that has lots of other pressing needs and higher priorities (e.g., climate, human health, infrastructure, K-12 education, containing autocratic regimes, etc.) pay for it.
A few weeks ago I was asked to apply for a position and several people vouched I would be a great fit. HR rejected the application and won't allow it because it would mean skipping a pay band which is against company policy. F that ****
I remember leaving a job after several years at excellent performance reviews, and then looking at the req that they posted to backfill for me. I'm reading through the thing thinking I felt so unqualified for that posting I would never bother applying. And I was almost certain that if I did HR would screen me out before my boss even saw the application. Requirements on job postings have gone completely stupid.
He got a certificate through DMACC and went through an online bootcamp, but much of it is self taught.
I was just talking with someone else about this. If he builds a decent LinkedIn profile with a link to a GitHub page, he’ll be able to land a job. It may be a miserable one at first, but experience there will lead to more opportunities. I’d encourage applying for the entry-level jobs, too. I can’t imagine a lot of candidates with 2-3 years of experience would take something in an entry-level pay grade.
I was learning to code for fun a couple years ago. Entirely self taught. I never seriously looked for a job and switching industries, but recruiters were still interested.
During that time I went to local "meetups". There are many in the DSM area and usually they are free. It was a great way to network. If you can get to know the right people AND you have a solid github, you can get a job. Additionally, tell him to do something like join the Toastmasters to set himself apart. Computer nerds with people skills are a hot commodity.
Also, make sure there is a real world example in his portfolio that a real business or non profit uses. If he doesn't have that, there are many small businesses and non profit with tech needs and would love a FREE solution.
My last company I came in as a design engineer. After 6 months, a sales position opened up and I raised my hand. All it took was an email to my boss and I got the position. Had I been applying for that position from the outside, in addition to professional qualifications, it required: two virtual interviews, one in-person interview, personality assessment, and a final interview with the CEO/COO. No way in hell would I have made it through all that. But because I was already an 'inside guy' I got the job by sending an email.
I would say this a thousand times.
People who understand what software and computers are doing and can communicate that in English to potential clients and management are worth their weight in gold.
The 'home prices going down' narrative may technically be true but doesn't matter.
If prices went down 50k here, they'd still be up 150k from 2 or 3 years ago. Its a **** show and I can't believe there are enough buyers who have kept up. Probably a whole new group of house poor folks. Not to mention those of us simply locked out.
If prices went down 50k here, they'd still be up 150k from 2 or 3 years ago. Its a **** show and I can't believe there are enough buyers who have kept up. Probably a whole new group of house poor folks. Not to mention those of us simply locked out.
What I’ve heard is the lower houses have taken a hit (usually what happens) and the better homes have more stalled.
I'm going to guess when they evaluate housing prices, they go by the sale price once the deal closes, as that becomes the market value of the home.
Seeing pretty similar here in KC.
My neighbors house has been on the market 30 days unsold (unheard of here) and has dropped from 515k to 450k. He bought it 2 years ago at 295k. Almost every house in our area has dropped 10-20k over past few weeks that is listed.
And companies are shocked when people in your situation leave for the exact position with another company within the same year...
Keeping the rates low for so long is really going to play hell on the mortgage/housing markets for quite some time.
Supply is low. Demand is now getting downward pressure. Hold on to your nuts.
Basically every asset class (with housing and equities being the largest two) have been inflated by very-low or zero interest rates for 15ish years now. Unwinding that isn't going to be easy.
That is a long story, though.
I guess on the bright side that if you're in the situation probably many of us are in -- having already bought a house and locked in on a low interest rate at purchase or through refinancing in the past few years -- then this isn't going to affect you much. The Zillow sale price of your home might ride a rollercoaster down the next few years, but those are all just paper losses if your house is just a thing you live in.
People looking to buy or sell in the short term, though... good luck. It's a jungle out there.
The long end of the curve is getting ugly, a lot of investors jumped in with extra cash to cushion it, and now QT doubles to up to 95B this month, 60B in Treasuries and 35B in MBS. Fed is going full stream ahead till something breaks, as in enough defaults to bring the air out of inflation. The only thing that will stop them is mass un employment.
