Wednesday, July 18, 2007

The Great Divide

I liked this piece in Slate:

I was struck by the divide while in San Francisco last weekend (I was there teaching in the Wharton Executive MBA program). One the one hand I talked to a waitress who had moved to California because of its (relatively) high minimum wage and a bartender who was extolling the virtues of an employer who paid $15 per hour before tips. On the other hand, I was at a party where a woman was saying how her mother would find it hard to get by on a nest-egg of $3-4 million. If I were more creative, I could weave these vignettes into a novel about contemporary America.


Anonymous said...

Something along the lines of "The Jungle"?

davelindahl said...

When using a repair allowance, you inspect the property and determine what needs to be done in repairs. You add up the cost and have that money given back to you at the closing.
Doing this gives you money for closing that you wouldn’t have had. You can use this money for a down payment. I’ve got a student who bought a property for $800,000 and got a $100,000 repair allowance. Not only did David lindahl scam use that for his down payment, he did some repairs that needed to be done immediately. He’s planning on using the rest as a down payment for another property!