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???
08/18/06 17:48
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#122576 - The way it works out best ...
Responding to: ???'s previous message
I've know a software engineer, and he really is an engineer, born and educated in Britain, as an electrical engineer, though he's been working as a software weenie for so long I can't remember the last time he put together a circuit.

He started out working for company ABC in locale #1, and, subsequently, his company was sold to a major west-coast company in the same product market area, and was, of course, moved to the West Coast with a significant cost of living adjustment. That company, having bought the physical plant back here (locale #1), was sold to yet another megacorp, again in the same product market, which moved this fellow, who had purchased a home in California, where his house back here, valued at $150K, would have cost $2.5E6, back here, where he'd retained ownership of his home and, since it was no longer rented, simply moved back into it, and the company liquidated his California house at a substantial profit, large enough to enable him to pay off the mortgage on his original house, and pocket enough profit to pay off the national debt, which is what the large income taxes, presumably, were used to do.

In the interim, of course, he'd gotten a major raise for cost of living, and, since nobody moves to take pay cut, he actually got a raise for moving back here. The result was that he'd made a huge profit on his real estate, paid a huge amount of taxes, and pocketed enough after-tax revenue to buy the TajMahal, and gotten a significant raise along the way. Now he lives in the same house he bought 15 years ago, yet he earns 5x as much and has $2E6 in the bank.

I wish I could cut a deal like that!

RE


List of 37 messages in thread
TopicAuthorDate
I knew it was bad, but that bad            01/01/70 00:00      
   Around here $550,000 buys..            01/01/70 00:00      
      And for $550k in California            01/01/70 00:00      
         is that in Missourra?            01/01/70 00:00      
            There's a reason it's called Mysery ...            01/01/70 00:00      
      Up here            01/01/70 00:00      
   Around here for 100K you can get...            01/01/70 00:00      
   So what is...            01/01/70 00:00      
      the CEOs bought their houses years ago and            01/01/70 00:00      
         It's like the real estate salesman ...            01/01/70 00:00      
      So what is...            01/01/70 00:00      
         CEO's            01/01/70 00:00      
      what gets me            01/01/70 00:00      
         Jez, you could be talking about NC and CA            01/01/70 00:00      
            The way it works out best ...            01/01/70 00:00      
               deal!            01/01/70 00:00      
                  Barnum said it            01/01/70 00:00      
                     From what I've seen ...            01/01/70 00:00      
                        Huh?            01/01/70 00:00      
                           Oh it can happen ...            01/01/70 00:00      
                              On which planet would that be?            01/01/70 00:00      
                                 Got to quit posting late .. Thanks Richard.            01/01/70 00:00      
                           Only the real estate salesmen ...            01/01/70 00:00      
                        big houses, small minds            01/01/70 00:00      
                        does that include your famous basement?            01/01/70 00:00      
                           Yes. It\'s two layers ...            01/01/70 00:00      
                        Engineers who're pulling            01/01/70 00:00      
               Tax on real estate            01/01/70 00:00      
                  capital gains            01/01/70 00:00      
                     Capital Gains Tax            01/01/70 00:00      
                        That's one reason people's houses grow over time            01/01/70 00:00      
                  Mostly No            01/01/70 00:00      
                     I think that number is more like $250k            01/01/70 00:00      
                        I never have            01/01/70 00:00      
                           "take and run"            01/01/70 00:00      
                              and only after you turn 55            01/01/70 00:00      
   Low income housing            01/01/70 00:00      

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