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.
Bay Area single-family homes’ median price is $2 million. With a 20% down payment, you are looking at a $400k down payment and $10k monthly payments. No single soul can afford it, unless you have rich parents or Airbnb hoarders. Or senior+ positions for FAANG
Yep, my wife’s friend bought a house in San Jose, and IMO in a shitty area. Her mortgage is $10k / month. The thought of spending a full Honda Civic every 3 months to put a roof over your head is just asinine.
Senior dev positions in the Bay area can fetch like 300k/yr base pay or higher. You can afford monthly down payments with an income this high. If you are married your income can go even higher. US tax code also allows you to average your income if you file together. Eg. If one person is staying at home and the other makes 300k/yr, your income tax is calculated as if two people made 150k/yr each. This can greatly reduce your taxes.
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.
Bay Area single-family homes’ median price is $2 million. With a 20% down payment, you are looking at a $400k down payment and $10k monthly payments. No single soul can afford it, unless you have rich parents or Airbnb hoarders. Or senior+ positions for FAANG
Yup, those are the people who benefit. Everyone else gets priced out. And good luck if you’re in trades or the service industry.
Yep, my wife’s friend bought a house in San Jose, and IMO in a shitty area. Her mortgage is $10k / month. The thought of spending a full Honda Civic every 3 months to put a roof over your head is just asinine.
Seriously who the fuck is able to do this and how is it sustainable as a system?
I don’t mean to be an accelerationist but let’s all get guns and wrap this the fuck up already.
Senior dev positions in the Bay area can fetch like 300k/yr base pay or higher. You can afford monthly down payments with an income this high. If you are married your income can go even higher. US tax code also allows you to average your income if you file together. Eg. If one person is staying at home and the other makes 300k/yr, your income tax is calculated as if two people made 150k/yr each. This can greatly reduce your taxes.