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$600,000 House on Starbucks Pay?

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October 15, 2007 – Comments (3)

Good luck with that. (California, here I come!)

The transition has been rockier for Kelly Markham, who earned $200,000 in commission in 2005 as a loan officer at an Irvine mortgage brokerage. When commissions dried up, she began looking for another job to support her six-month-old baby and hang on to her $600,000 home.

"I've signed up for work at a temp agency, but all I've gotten is five hours of work in the past four weeks stuffing envelopes in some office," said Markham, 34, as she perused Starbucks job listings online one recent afternoon.

A nice catch by Keith at housingpanic

 

3 Comments – Post Your Own

#1) On October 15, 2007 at 4:24 PM, GS751 (27.42) wrote:

haha nice

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#2) On October 15, 2007 at 5:29 PM, MakeItSeven (32.76) wrote:

I heard Starbucks employees can get big tip, especially if they wear a sign saying "I have a 600K mortgage, you know" :).

Anyway, what is worse than losing the house that you can't afford is to raid your retirement plan to pay for the house that you can't afford for a few more month until your savings and retirement money run out as well.

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#3) On October 15, 2007 at 5:45 PM, QualityPicks (55.30) wrote:

I work next to some relatively new IndyMac buildings here in Irvine. The buildings were brought up really fast, and the offices were packed. Parking lot was full. Now the buildings are 2/3 empty.

Since $600k only buys you the entry level 3/2 townhome, I guess this person was really trying to be "conservative" :)

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