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For those still on active duty: nice end of CY tax-free bonus inbound for those in certain areas. Only effective OCT 2022 to DEC 2022 so don’t inflate your lifestyle.
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All Branch Topic (ABT) Temporary BAH increase
Started by militaryPHYS
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I don't get it. Why for only 3 months, what's the point?
Part of this whole thing. 2023 rates likely to be adjusted up but this is kickstart to new permanent rates. The temporary rates are significant. O4 with dependents in San Diego going from 3726 -> 4794 per month. Ridiculous
DoD Announces Immediate and Long-Term Actions to Help Strengthen the Economic Security and
Secretary of Defense Lloyd J. Austin III announced immediate and long-term actions to help strengthen the economic security and stability of service members and their families.
www.defense.gov
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Seems overdue to me. Housing costs have really ballooned over the last couple years. San Diego in particular is a crazy market.Part of this whole thing. 2023 rates likely to be adjusted up but this is kickstart to new permanent rates. The temporary rates are significant. O4 with dependents in San Diego going from 3726 -> 4794 per month. Ridiculous
DoD Announces Immediate and Long-Term Actions to Help Strengthen the Economic Security and
Secretary of Defense Lloyd J. Austin III announced immediate and long-term actions to help strengthen the economic security and stability of service members and their families.www.defense.gov
Zillow says the Encinitas house I grew up in is now worth $1.6M. Nice 4 br house but nothing special about it. 50 year old single story 1900 sq ft home on a 0.2 acre lot in an ordinary suburb subdivision. A 30-year fixed mortgage on that at 5.5% would be about a $9000/month payment. God only knows what the rent would be.
I don't know how active duty people with families find anything with room to comfortably house a couple kids and a dog around San Diego.
Agree. Only works for us because we are dual mil officers.
In a glimpse of how inflation is killing us all slowly, a good friend of mine is a retired FedEx pilot who flew A6’s in the navy. He was telling me it was affordable to buy a house on Coronado Island in the 80’s on 03 pay.
That's not really inflation, but rather the most cherrypicked location in the San Diego area. 🙂 Location location location. It's a bazillion people moving to southern California and all agreeing that a tiny island with a bridge to an awesome city like San Diego is a neat place to live.
My parents bought that $1.6M Encinitas house for $39K in 1973 ... roughly 8% annual growth. Inflation hasn't been 8% yoy for the last 50 years.
