Live, work (2 jobs) and play in Irvine...

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PeterUK_IHB

PeterUK_IHB

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A couple of months ago my Wife got Her layoff notice but no problem we thought, she's very well qualified in the Medical/Pharmaceutical Field, now would be a good opportunity to find Her a Job in Irvine closer to home on more money etc etc. How wrong could we be? She went for several interviews and had lots of "well get back to you's" but nothing, I've been helping her search online through all the usual Monster.com and similar sites, by the way, Hotjobs seems to be the best. The thing was, the Money, I wish I'd bookmarked them so I could post some examples, but Jobs requiring a lot of experience with a minimum of an AA, Bsc prefered being offered at $11 per hr (salary equivalent)....



Anyway, she did finally manage to find a great job 3 miles from Home but it deffinately wasn't anywhere as easy as we'd thought it was going to be.



The Irvine job market is horrible and that's not going by graphs, stats or any other kind of Data, this is through personal real-life experience.



It seems a great deal of single, degreed people are priced out of Irvine, I needed an income of at least $85K to rent our 2 bed 2 1/2 bath Townhouse which in a lot of cases would take a growing number of Folks 2 FULL TIME Jobs to even qualify. At an apparent $84K median household income I don't see how people manage....



Is anyone else currently looking for a Job and noticed the same thing?
 
From the perspective of someone who has interviewed many people over the past 6 months in the med/pharma field, in my opinion there is a paucity of qualified individuals in Irvine. We have had reqs open for months without a single qualified applicant. I've brought in a few of the sub-par applicants to interview out of desperation, hoping they were better in person than their resumes suggested, but there was no way I could hire them after meeting them and having their personal interviews just confirm what their resumes suggested (would not have been capable of doing the job).
 
I do many of the technical interviews for my department. We were hiring back in April and I must have given about 20 phone interviews before we found anyone that was even worth bringing in for an interview.





We are looking again and I don't look forward to wasting my time on the phone
 
<p>Hi,</p>

<p>I have interviewed many people in my company as well, and we are getting interest from a lot of ex-mortgage people applying. A lot of the people are over qualified for entry level position, but the market is not what it was early this year.</p>
 
<p>Pater, </p>

<p>I wonder the same thing. It does not make sense to me how these people can afford all these expensive homes. I have a highschool friend who now currently owns three homes: one in Apple Valley, one ine Irvine's Westpark, and one in Corona. The one in Corona she just bought recently. It was about 500K. She works in the loan/mortage industry. I have no idea where she get the money from. She does works hard and is ambitious. I know for a fact that she does not have money from her parents or such. Did I mention that she is single? Therefore, there is no bf or husband to help out with the mortgage. All the homes were purchased within the past 4 years. </p>

<p>We, on the other hand, are making in the upward of 200K. We are afraid of being priced out of the market. If we were to do the traditional 3X the income, we can get some condo in Irvine. But for 200K, I thought this is lots of money. Why would we want to stay in a condo? Something is funny happening about this market. Or maybe I have been living under the rock or am missing something. </p>
 
Today's Los Angeles Times has a story about how people making $9/hr can afford to live in Orange County.





"he borrowed the entire purchase price of $615,000 from Washington Mutual at a high interest rate typical of sub-prime loans. The monthly payment, as he says he understood it, would be $3,600 -- steep for a glass cutter who made $9 an hour -- but Aviles counted on his wife and three of his six daughters, who also worked low-paying jobs, to contribute."





<a href="http://www.latimes.com/news/local/la-me-housing8oct08,1,4323159.story?coll=la-headlines-california&ctrack=1&cset=true">www.latimes.com/news/local/la-me-housing8oct08,1,4323159.story</a>
 
<p>ABC123,</p>

<p>I just read that story in print and felt really bad about their plight. I know that they could not afford the home to begin with but it is still sad.</p>

<p> </p>
 
I believe that what comes around, goes around. I imagine a lot of the victims of predatory lending that will lose their homes, will be homeless alongside the laid-off mortgage broker who sold them their mortgage. What I can't imagine is the thought that they could afford a $3600 payment on a $60K income.
 
Hold on here. Is the Aviles clan really an example of a victim of predatory lending? Let's think about this for a minute. The guy is makin $9 per hour and his family is making a few bucks also. Let's just say the lender tells him he can afford $3600 per month. It is not reasonable to believe that. The only way someone would do this is if they thought they were going to make money on the back end because real estate prices are going up. Earning a low income does not stop folks from being greedy, nor does it absolve them from the responsibility of their decisions and actions.
 
<p>I thought about it for a minute. And, truth be told, I cannot pretend to know that the Aviles family was not a victim of predatory lending. Just because you would not fall prey doesn't mean a family of non-English speaking immigrants wouldn't.</p>
 
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