Real Estate Crash thread

[4matic]

Seriously, tho. WTF is up with insurance companies dropping people all over the country for BS reasons? Like using drones or satellite imagery combined with shitty AI, and being blatantly wrong about their assumptions, then being totally unwilling to let people appeal. It's nuts. While I can kinda understand dropping Florida properties, insurance companies have been going crazy these last few years. Whilst simultaneously hiking up rates for everyone.

Some of it is due to regulation that does not allow property specific rates. It lumps regions into rate bases. It’s one thing California is working on to mitigate rate rises

[californiagrown]

HS principal in Sac City base pay is $217k. Lots of opportunity for bonus pay too.

A “substitute” principal is paid $900 a day.

Teacher health care is typically 100% paid unlike typical corporate job. Government jobs aren’t what they used to be. Many pay well and also have guaranteed retirement benefits.

Teachers usually have a prep period to do things like grade papers and other admin tasks.

Middle school teachers in the seattle area with ~10 years experience make a little over 100k. For the amount of hours they work, and benefits they recieve, i think that is pretty fair.


But if you go to rural washington, i would imagine the pay is half that. It seems to really depend on location, how fairly teachers are compensated.

[4matic]

Go try it out for a year and come back and tell me that $43k is fair because you get a couple months "off" a year.

Life ain’t fair. Do your ~ years of service and have health care and pension for life. California provides full healthcare coverage between retirement and 65. So that’s like an extra $1500 a month in benefits.

[XXX-er]

I went with a teacher who would max out the visa cards thru the summer, she would just get them paid off by the next summer in time to max out that summer, a repeating cycle it would seem

In high school the footbal coach/ PE teacher was seen driving a cab in the summer

OTOH hand the math teacher played money markets and lived in the most expensive part of Vancover, buddy would give us H-Work but he never wrote down the answers he would stand in front of the class and do complex equations in his head

[4matic]

Guy I play golf with is Elementary school principal. Drives Porsche Carrera, ski boat, country club membership. Lots of Firefighters and other public works employees at the country club too.

[4matic]

I coached HS football for quite a few years. 1-6 pm every day for three months. Paid between $1200-$1500.

[4matic]

I went with a teacher who would max out the visa cards thru the summer, she would just get them paid off by the next summer in time to max out that summer, a repeating cycle it would seem

In high school the footbal coach/ PE teacher was seen driving a cab in the summer

Was like that in most districts 30 years ago.

[goldenboy]

That is not what I said. I'm sure they work a bit at home, but 700 hours worth over a 9 month school year? No way.

Easily. When my wife was still teaching she graded papers and made lesson plans from 5-10pm every night. It was out of control, and it's no wonder she doesn't teach anymore. From an hourly basis, almost any job in a ski town paid more, even with years of experience and a Master's.

[XXX-er]

my neighbor told me he would grade papers by throwing the pile down the basement stairs

the stuff that stayed on the first stairs were the " A "s and the stuff at the bottom were the " F "s

I believe teachers can get paid on a 12 month basis even tho they only work 10 months

or drive a cab

[yeahman]

I taught high school and never found the extra hours to be that burdensome. What made the job hard was classroom management. That shit will age you prematurely. I quit after a couple years.

Friend of mine retired from the Montana school system after 30 years and now is in California working 5 years to get vested in that state's teacher retirement system. He won multiple state championships as a football coach and is now coaching in CA too.

[muted reborn]

I have lived next to a school for a large portion of my life, and there is no way in hell most are clocking over 1500. The parking lot is universally empty before 7:45am and again by 2:45pm every single day.

We've all read your posts, there is no reason not to believe this. Your teachers most likely put in very few total hours. (kidding)

[singlesline]

It is crazy how much variation there is in teacher pay...some states/regions/districts pay shit compared to the local COL, while others pay well above the local median income (plus solid benefits).

E.g. in Chicago, a 2-teacher household where both teachers have a masters/additional education (which the district will pay tuition for) and 10 years of experience will earn about $200k (plus probably $30-50k in pension value and other benefits). That's about 3x the median household income in the city.
Now...a lot of those teachers teach in grittier low performing schools which is incredibly taxing, but a lot of them teach in pretty normal schools too (and some of the selective enrollment schools are consistently the best in the state). I think that's a pretty fair deal and can provide a very nice life for a family.

Two teachers with the same qualifications/experience doing the same job in Tampa would earn 50k a piece with an only OK benefit package. Maybe that still puts them above the local median household income...but not by a lot....which doesn't really seem right for someone with advanced degrees who you trust to play a large role in your child's development...

[Ted Striker]

In high school the footbal coach/ PE teacher was seen driving a cab in the summer

My 10th grade math teacher drove a cab on the weekends. His "regular" car was also a former cab.

He also looked and dressed like Mr Kotter (but this was in the 80s, so his style was a little dated)

[XXX-er]

I taught high school and never found the extra hours to be that burdensome. What made the job hard was classroom management. That shit will age you prematurely. I quit after a couple years.
.

l asked a younger bud what he is teaching and he said " 100% music this year but it doesnt really matter what I am teaching the issues are always the same "

[MontuckyFried]

Here's my beef with teacher pay, or rather the lack thereof relative to property taxes. If my school district taxes go up 10% every single year like clockwork, then why aren't teachers getting comparable bumps in pay? Surely their cost of living is going up all the same.

I want to know where TF all my tax money is going, cuz it sure ain't teacher salaries!!! My property tax burden has skyrocketed over 50% since I moved here. It's only capped at 10% annually due to homestead, but those appraiser dickheads keep tryna blow past that, and EVERY year, I have to protest and go through a whole appeals process, with my finally going through an ARB hearing where we finally "settle" on said 10%.

I know the entire country is going through the same asinine increases in prop taxes too, so nothing unique to me by any stretch. Family in MT was telling me how bad it's getting even there, and now they're getting WAY more aggressive. Like utilizing satellite photos or drones to squeeze every last nickel out of them as they noticed some improvements made around the property. MT never used to be like that. Even in Gallatin County, they were pretty relaxed with me. Now they're going hogwild.

[skaredshtles]

<snip> Many pay well and also have guaranteed retirement benefits.

Those would be the ones with strong unions.

<shocker>

[skaredshtles]

Here's my beef with teacher pay, or rather the lack thereof relative to property taxes. If my school district taxes go up 10% every single year like clockwork, then why aren't teachers getting comparable bumps in pay? Surely their cost of living is going up all the same.

I want to know where TF all my tax money is going, cuz it sure ain't teacher salaries!!!

I am absolutely POSITIVE this is public information and all you have to do is go look for it.

[Ted Striker]

Assuming it's CalPERS. My sister-in-law was a member for about a decade. Once vested, it's a pretty good retirement package.

[yeahman]

Another Montana-native friend of mine has been teaching in CA for 30 years. Makes 100 grand in the south SF bay area but still lives month to month and rents a place. He never got married and having only one income these days makes it tough to afford a house. Fortunately for him his dad left him and his sister 40 acres in the Missoula valley which is where he plans to retire. Although he loves California and says he will miss it a lot.

[4matic]

Another Montana-native friend of mine has been teaching in CA for 30 years. Makes 100 grand in the south SF bay area but still lives month to month and rents a place. He never got married and having only one income these days makes it tough to afford a house. Fortunately for him his dad left him and his sister 40 acres in the Missoula valley which is where he plans to retire. Although he loves California and says he will miss it a lot.

In the last 30 years there’s been opportunities to buy on a single income. Especially with a tenured job and income certainty.

[AdironRider]

Go try it out for a year and come back and tell me that $43k is fair because you get a couple months "off" a year.

I said I couldn't handle it and they deserve every penny, but that people need to be honest about how many hours they actually work. I also said most teachers couldn't hack a 12 hour shift nursing, which is equally important to society IMO, so this argument goes both ways.

Very few teachers are making 43k. That is entry level in some of the crappiest school districts in the country. Teachers here in NH are averaging double that in my district. Even in craptastic Idaho where I lived previously, teachers made more than that after 2 years, and that was only if they had just a bachelors and were brand new. Oh and they only have to teach 4 days a week now in my former Idaho district. Quit sensationalizing the argument.

[Buzzworthy]

I said I couldn't handle it and they deserve every penny, but that people need to be honest about how many hours they actually work. Quit sensationalizing the argument.

You fucking tool, you started this whole argument. You’re just a clown talking shit you know nothing of.

[Conundrum]

Ok. Appreciate you laying that out. Still though, what's bizarre is how in an industry that claims to barely be scraping by, executive compensation is simultaneously off the charts. Look at AIG CEO, Peter Zaffino. Dude made about $75 MILLION in 2022, or 894 times the median salary of his company. Makes you wonder if these companies could benefit from trimming some of the fat up top. I'm with USAA and I was floored when they gave the CEO a 68% pay increase from one year to the next (shot up to 8.1MM) right when hiking up all of our rates. And this was on the heels of them having a particularly bad "loss" one year. Sooooo, let me get this straight. Have a terrible performance and get a monstrous compensation increase out of the deal? Par for the course in the C-Suite these days I guess.

Even if the math is what it is, surely you can understand the optics of such things.

I'm not defending the delta between median salary vs exec comp at large companies. It is out of control.

But your reasoning is flawed on the topic at hand. Peter Zaffino makes $75m at a company (AIG) that makes $10b in net income. AIG does more than insure residential homes. A good leader of a for-profit company probably looks at sectors of the company that are losing the company money and says we should do less of that unless it's something that is a short term blip. The long term outlook for insurance in the private homeowner space is quite bleak. The leader is protecting his company from bleeding money. That is why he makes $75m. PS-AIG's stock is up 30% YOY so he's probably doing something right for the shareholders and I doubt they mind his pay.

[AdironRider]

You fucking tool, you started this whole argument. You’re just a clown talking shit you know nothing of.

You do realize almost every public school teachers pay, hour requirements, and entire compensation package including benefits is public record right?

PS I literally quoted the person who started the argument.

[BC.]

Most teachers work way more than 1500 hours. Go try it out for a year and then tell us that $43k is fair for the job.

But that’s a whole nother thread.

Thank you.