How does your local economy feel?

[Lin W]

I moved to North San Diego County (Ramona) in 1997, at the tail end of the real estate slump, got a new “spec” house that had been on the market for over a year with no offers at a very good price. In 2004 I decided I’d had enough of SoCal so I put that house on the market. Real estate was crazy -- I had six offers within three hours of listing it. I sold it for four times what I paid for it and moved to Puna for two reasons, climate and affordable property. I hit here just before housing prices started up so paid well under $200K for my little house in HPP. My timing in both cases was perfect, albeit accidental. I work via the internet, doing medical editing for a huge company based in Manila so my job moved with me, so far seems very secure and, I have health insurance. I don’t make a lot of money but it’s enough to live -- here. I don’t think I could make it on the mainland (or on any of the other island for that matter) on my salary. But here I’m debt free, have no mortgage, no water or sewer bills, no summer cooling or winter heating, and, as a resident senior citizen, my property taxes are less than $100 a year. Since I work at home and don’t commute, gas prices aren’t a huge problem. I am able to keep a small garden going year round and I’ve been considering getting some chickens and maybe a milch goat. I’m at the point in my life where accumulating a lot of “stuff” no longer interests me. What was left over after purchasing this property and making the big move to Puna, I put in long-term CDs. I also have a small IRA and a tiny bit of stock I inherited. Over the past months I’ve watched them all tank but then I never figured I’d have enough to retire anyway so I‘m just leaving everything sit and hoping that it rebounds somewhat with time. My goal was to be able to drop back to part time work when I hit 66 and so far those plans haven’t changed. I have friends in Escondido (San Diego County) whose little condo was appraised at $250K+ a few years back, but recently when they wanted to refinance it was valued at only $85K -- they’re upside down and struggling. I’m so glad I got in and out when I did and managed to wind up here. I’m horribly ignorant about all things economic but I fear that the global situation is going to get far worse before it gets better. I wish I’d paid better attention when my parents talked about living through the Great Depression.

use it up, wear it out, make it do, do without