Sounds about right.
The benefit is, if you’re ever able to afford property, you can hold it for a few years, sell it, pay off the mortgage, and move almost anywhere else in the world as a millionaire.
Remote work begins to look very attractive.
I’m looking at jobs where they have offices in downtown SF and require full time in office because “culture” (or if they’re generous, 2 days a week at home), but the pay is like $250K/year. Anywhere else that salary would be AMAZING but in SF you’re going paycheck to paycheck and still commuting 2-3 hours a day. Seattle is just as bad.
Those places are beautiful and I’d love to live there, but it’s not realistic for anyone who hasn’t gotten some kind of windfall.
Seattle is definitely not just as bad. Sure it’s reasonably high cost of living, but you can do fine well under 100k. Parts of it are insane, but parts of it are not much worse than urban Midwest.
deleted by creator
If min wage kept up with inflation it would be more than $30/hr now.
I find it really funny that Texas is welcoming the tech bros now, because this is exactly what happens when the tech bros mix with an unregulated housing market.
The problem is actually old “liberal” hippies who refused to allow development of new housing for decades. NIMBYs as they’re called. I’d say the hippies are mostly gone, but the refusal to build housing remains. Go to any other major city in the country and there are usually cranes everywhere. Not in California. Tech bros did bid up the limited housing supply for awhile, but now that prices are easily $3-5 million, they’re even getting priced out unless they were a founder that got an exit or just lucked into joining a company at the right time – NVidia for instance.
Yeah it’s been like that for awhile. Tech bros have been moving in swathes out of California because they only care about paying less taxes and buying cheaper real estate.
My, how society is collapsing. I live in the Bay Area (Oakland) and accepted that I will never own a home years ago. I live well, but I’ll always be a renter because I don’t want to move some place more affordable. Why? I have tickets for a lot of live shows this year that wouldn’t exist in most other cities.
What? You can just fly into the city?
I wouldn’t go through the hours of airport misery for shows that aren’t huge. I’m seeing shows that I can get to by train, uber, or even a short walk for a couple of venues. Investing thirty minutes of travel is a no-brainer. Multiple hours has to be tremendously special. Plus the time I’d have to take from work each time. You don’t just fly in after working a full day and fly back after the show without a lot of investment. There’s no way flying would be manageable. And then the added cost.
Artificially inflated real estate pricing is one of the main contributors to the wealth issues we’re facing. A house near the big water should have no bearing on its value. It’s just further commodifying a basic need for financial gain.
deleted by creator
it has been that way for 10+years.also the fact that its re-gentrifying to, the white flight happens generations ago, but are now flooding back into the neighborhoods. the first signs are cafes being established, and then you get a white karen soccer mom complaining about you parking in front of thier house, which is a public street, and then the multitude of white people that also give you nasty stare if your a poc approaching anywhere near thier vehicle or house.
also the zoning laws and nimby(rich white people in wealthy suburbs) prevent new housing too.
