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LOL...
I meant rock, not rack...
I think I'll edit that...
Now I don't feel sorry for him.
LOL...
I meant rock, not rack...
I think I'll edit that...
Ubelievable some of you. Obviously some of you didn't read the whole article.
Yes I feel sorry for him, anybody who has been laid off will know what he's going through. It sucks out there right now.
I was hit twice in one year, it can be tough looking for work. I work in a position that usually requires a college degree, but got here through hard work.
As stated by a couple of others, the only catastrophic mistake I see that they made was buying a domicile that is worth 4.5X his annual salary. It's nice to see your kids more, but take the ing train.
I won't even have children until we are financially sound and we did a lot of traveling/personal stuff.
I will have my first child around...35-40 years old. If we have any surprises, we are aborting.
Actually, making $16-2/3k a month for $6,200/mo. payments, that's not unreasonable. He just got hit like anyone else can. That's still $10,000+ per month (minus taxes) for other things. That 1/3 rule of thumb is important for the middle class.
Too bad for your case, retroactive abortions are illegal...
Dude, that's 37.2% of take home AFTER a 20% down payment. That's way over extended by any reasonable definition. Most fiscally sound banks will limit you to about 27%.
Yes, you're right of course. No outside the box thinking for you I see.
Cookie Cutter solutions do not apply to everyone. I guess you think they should.
Consider, after paying a really high income tax rate, he's probably paying closer to 50%. Someone earning only $100k, I can see limiting to 27%. $200k is a different realm.
you do realize what the cost of living in New York is, right?
the col in NY almost negates 200k being in a different realm.
In SA, you're living very well and maybe pay that kind of house payment, but not NY or LA
I know it's high, but he still had at least $5,000 a month to live on after paying the mortgage.
this is why college is over-rated right out of highschool. Its trully my belief its better to get real world job experience to understand what money actually means. These spoiled ers that go to college on scholarships have no idea how hard life can be. Get a job out of highschool for a year or two, learn what the dollar TRULLY means, THEN go to college to get the big bucks so you know how to actually manage it.
Do I feel sorry for him? no. He was probably fresh out of college with a sweet ass job not knowing the value of a dollar as evidence by the description they gave of him at the begining of the article. Sure he saved some (their savings is running out) but you if you think this asshole wasnt spending that extra money like crazy.
Again, he was working in the stock market. He had no transferable skill or job training if the stock market's inevitable volatility bucked him off his cash cow. Buying a million dollar condo isn't responsible any way you slice it in this situation. It's not like he was in a field where he should have had confidence in his job security over the entire life of his mortgage.
It sucks and I feel sorry for people in his situation but there's no way he doesn't deserve some of the blame.
this guy. He's one of the main reasons all of us were getting raped at the pump in the middle of a nasty recession last summer. He deserves to lose his condo. I feel bad for his wife and kids, but him for earning his money on cheating all of us here.
bb got it right. The current high gas prices is totally caused by oil traders manipulating the market, just like they did last summer, sucking 100s of $Bs out of our pockets, when the Saudis has plenty of oil to sell but couldn't find buyers. Current stocks are high worldwide, demand is severely depressed due to the depression caused by financial operators like this guy, but the price of oil has risen out of all relation to supply and demand, just like last summer. The credit and asset bubbles popped, the capitalists are inflating a commodity oil bubble to kick the world while its down. 'em all. btw, the financial sector OWNS the US govt, which will not be able to re-regulate the criminal financial sector back into boring harmlessness, and they will use our tax dollars to continue lobbying and buying off the govt to the get the toothless regulations and loopholes they will use to keep ing us over.
now that is quite mean
That is a great post
Solid take ...... but not relevant to the article.
This guy was a nobody... they paid people who got coffee 200k a year in NY... There is no reason at all to be angry with him.
Average salary in NY city is still over 200k.
People need to lighten up...
Why would you discourage a kid right out of high school from going to college?
The kids should try living on their own for a year or two to understand how hard life can be.
head got what he deserved. He made his money at all of our expense, and then had a snobbish at ude like everyone else struggling in this cluster the last 3 years was lazy and beneath him. Plus, he gets no sympathy for living -rich. Getting a place in Battery Park is living way beyond one's means unless one's a real high-roller. Ordering $200 bottles of wine and eating expensive-ass lobster regularly when you're paying $6.2G on your place while only bringing in maybe $10.7G a month after taxes is ing re ed. Not only is he a s bag, but he's a trader who can't even manage his own assets.
LOL Laid-off oil speculator
dont feel sorry for hiim when him and his friends in the field were trading oil barrels, pushing the damn prices up...
I dont feel sorry for him, he was given a great opportunity to earn and save but his lavish lifestyle got the better of him. You dont have to be a genius to know that being a broker/trader is not a stable career.
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