I recently accepted a position at Qualcomm and will be relocating from the bay area. Should I buy a house or rent? It seems like San Diego is in a market peak again.
19 replies (most recent on top)
Rent, major layoffs occurring at Q next year
I wouldn't move to a one horse town but this should provide all the info you want on the SD housing market. https://piggington.com
if you have not yet moved south, you should reconsider. I made the same mistake. I am back in the bay area where the real action is.
I don't think any action at Qualcomm is enough to put the entire San Diego market into a recession. I am more concerned with the overall economy, which is overdue for a correction. If they pass the tax cuts, it will probably juice the economy an extra year, or two at most.
Thanks for the feedback. I'm going to rent for a year and see where the market is at.
buyfirst then rent rooms to college studs
House price will peak in summer 2018, the demand is just too high
Housing market in San Diego is not driven by qcom.
Most things posted here is BS. Wait until the outcome of the Broadcom and NXP deals is known. Market seems high but a year won’t matter in the long run. #justwait until work is stable again at Qualcomm. That is why I am renting now. If things go bad I will be one way ticket to Sunnyvale or Austin and not think twice about it. Be sensible.
i have been in bay for last 5 years. I would accept any job in San Diego my old home town. Bay area crazy commute time and ridiculously expensive and small resident places are real bugs. No way to solve it.
I would wait to but until final decision is makes in Broadcom or NXP. If you get laid off you would likely have to live to Silicon Valley or Austin to find good work
This is a serious question. I'm used to long but predictable commutes on BART and don't want to sit in a car for over an hour each way. I could easily go up to $3500/mo on rent or a house up to $900k.
OP is trolling for sure
OP, what team are you joining?
The big problem is not just accepting an offer from Qualcomm (no less at a time when a potential acquisition by Broadcom looms). The big problem is the huge mistake of moving to San Diego.
Yes, SD is a nice city, and I love being able to drive just half an hour to get to a really beautiful beach. But I would still never move to SD again if I had a choice. I want to live in a city where I have some more options on the job market than just Qualcomm.
If it's not too late, decline the offer from Qualcomm and stay in the bay area. Who accepts an offer from Qualcomm in San Diego any more? All the good people either left or they are lined up at the door. Don't do it. Good luck
Basically Q doesn't offer retention bonus any longer like in the old times, so in face of massive resignations (aka attrition) they try to mitigate by overloading others who eventually jump to greener pastures later. At this point in despair they offer a fortune to bring OP to do patching work and meet deadline not different then paying a prostitute for a dirty quick service.
OP, as a advice if it suits you, just commit a year rent and be prepared to move back to Bay Area.
LOL. Everyone here is trying hard to get to the Bay Area. Qualcomm is lucky that there are still some idiots left.
Definitely rent until you know for certain you will not be laid off. I expect all major disruptions will have passed by Chanukah next year.
Did you say you moved to San Diego from where the jobs really are? Good luck!