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20 May 2017, 11:23 PM | #31 |
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The reported median salary is probably accurate. Most people in SF either 1) became homeowners at a time when the prices were still attainable or 2) will continue to rent (usually with roommates) until they leave SF.
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20 May 2017, 11:27 PM | #32 |
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Well I can safely rule out moving to SF any time soon
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20 May 2017, 11:36 PM | #33 |
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If high-paying jobs continue to become more concentrated in high-priced cities, things could get worse.
A lot of Americans probably need to lower their lifestyle expectations. Mine are already low after living in HK, where most apartments are tiny and the price per square foot is substantially higher than SF. |
20 May 2017, 11:53 PM | #34 |
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Thinking about selling up and moving to the States .... houses are way cheaper in the land of milk and honey.
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21 May 2017, 12:17 AM | #35 | |
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On paper there just is this big disconnect between salaries and home prices, such that I wondered how the prices got so high if there isn't that much real money earned to float them up up up and way! |
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21 May 2017, 12:31 AM | #36 |
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San Diego isn't on that list. Honestly, it's a moot point as far as I'm concerned. I already own a home in the city I most want to live.
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21 May 2017, 12:40 AM | #37 | |
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One could make the point that better educated people flock to these cities and income is directly correlated to educational levels but that would sound smug, wouldn't it? |
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21 May 2017, 12:53 AM | #38 |
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My area is expensive, but it keeps out the riff raff
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21 May 2017, 01:59 AM | #39 |
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21 May 2017, 02:51 AM | #40 |
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I guess the point is that it is getting very expensive to own a home in a lot of different areas in the United States and Abroad. The majority of us have a home or several homes we are in, this is but a dream for may younger people just starting out after college etc.
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21 May 2017, 03:58 AM | #41 |
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I built a 2 bedroom, 3200 sq ft home in Hillsborough CA (SFO Bay area) in 1979 for about 375,00. I see where the home recently sold for 3.8 million. That is insane but the HKG/TPE/PRC Chinese are willing to pay through the nose for these properties. I sold it in 1984 for around 650,000 and thought the buyers were crazy then.
There is a lot of high rise condo construction going on in down town SFO and buyers are mostly Chinese. They will buy 24 units in one building and live with other family members in three or four of the units leaving the others empty. Not a good deal for anyone that wants to live in the city. |
21 May 2017, 04:48 AM | #42 | ||
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Quote:
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21 May 2017, 11:35 AM | #43 | |
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Check this out:http://www.king5.com/news/crime/tukw...city/207439003 |
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21 May 2017, 11:46 AM | #44 |
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21 May 2017, 11:50 AM | #45 |
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The median salary won't buy a home in SF, or most communities around SF.
Buying a home on median would require a large down payment (achieved with a windfall from vesting of stock options), or dual incomes, or one large income (which many people make). The median is the "midpoint" of a statistical distribution, meaning 50% of the population make higher than 128K and 50% make lower than 128K (for a software engineer position).
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21 May 2017, 12:34 PM | #46 | |
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I like most of your posts but you're baiting. Fair question from a lawman all things considered
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21 May 2017, 12:37 PM | #47 |
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Of course, money is no object to some of us.
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21 May 2017, 12:48 PM | #48 | |
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22 May 2017, 02:41 AM | #49 |
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That's got to be the biggest piece of fake news this week. Not saying the place is Eden but I can think of many other cities that are a LOT more dangerous and your chance of getting robbed or murdered are significantly higher. Nor am I aware of any significant crimes that have been attributed to either of these ethnic groups?
Bottom line: This guy must be trying to sell you something..... |
22 May 2017, 02:53 AM | #50 |
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22 May 2017, 03:21 AM | #51 | |
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That was truly disturbing. Not exactly a high crime area per se but pretty scary stuff for me. Doubtful that it shows as dangerous on Safewise. |
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22 May 2017, 04:54 AM | #52 | |
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Assimilation into mainstream American culture/life is probably the biggest hurdle for most of these Somali and Ethiopian refugees to overcome as many arrived here via asylum from backwards/tribal societies beginning around 1993. The state of Minnesota is currently grappling with whether to further prosecute female genital mutilation as it is a cultural practice in countries such as Ethiopia and Somalia. While maintaining certain customs and courtesies of one's native background often serves to enrich our American cultural palette, a line has to be drawn somewhere especially when/if it conflicts with the existing laws of our country. The same goes for any individual who actively participates in 'honor killings' just because of a perceived affront to one's family. American jurisprudence should always override any questionable and dangerous cultural practices regardless of their origins. Just saying. |
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22 May 2017, 05:33 AM | #53 |
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Only thing I know.... is that FINALLY, after about seven years, I am above water on my place. I purchased at the peak prices right before the bubble burst, (great timing) and was almost two 200K underwater within a matter of months. Nice huh? Six months ago I refinanced to get out of my interest-only terrible loan, got a great rate 30 year fixed and discovered I have 40K plus equity in my place. FINALLY and alleluia!!!!!! !
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22 May 2017, 06:26 AM | #54 | |
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Fortunately for some, the Jarvis-Gann Act of 1978 froze property taxes at their earlier assessment rates and there are folks in our neighborhood who pay anywhere from $1500 to $25K yearly for essentially the same house (depending upon when they purchased it). Then again, a majority of the current home purchasers are making far more money than most did in 1978 so in a way, maybe they should be paying higher property taxes. In addition, a majority of the senior residents in the neighborhood almost always vote against school tax/bond issues as well, citing the fact that their kids have already grown up and that they bear no fiscal responsibility for other people's kids. Bottom line. Even if you happen to own your own home, with all of these additional expenses (e.g. property taxes, repairs/maintenance et al) you're still essentially renting it until the grim reaper (or a foreclosure agent) calls you aside. |
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22 May 2017, 08:12 AM | #55 | |
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22 May 2017, 12:16 PM | #56 | |
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