Just Visiting (San Francisco, Sonoma: real estate, rent, condos)
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I just got back from my first visit to San Francisco and parts north of there.
I came away mostly impressed and a little horrified.
It's a beautiful city, tons of pretty much EVERYTHING, great climate....
However, traffic and the cost of living (homes etc) were horrible. It is stunning to consider that you could make 100k a year and pretty much be out of reach of ever owning a home.
The idea of 1.5 hour (or more) commutes to a 350k crap hole is just a little numbing.
Anyway, a great place to visit I was fortunate in that the people I was visiting have a large place in a VERY nice part of SF and a small ranch\vineyard in the Sonoma Hills so if I could live like that *HA HA HA* then it would be great. However, reality for my moving to SF and I make a good wage....would be a major blow in terms of quality of life.
Oh well, looking forward to visiting again sometime.
Like NYC most people in SF rent. Owning is almost impossible unless you're a millionaire. You can find some decent places outside of SF in surrounding cities. Mainly the East bay.
Thanks. I find it really interesting why you chose this post out of so many with errors in them to try to put me down. I must have written something that bugged you so you decided to take a pot shot at me.
By the way, home\house is a regional thing. For example, "You should get out of the house more."
Thanks. I find it really interesting why you chose this post out of so many with errors in them to try to put me down. I must have written something that bugged you so you decided to take a pot shot at me.
By the way, home\house is a regional thing. For example, "You should get out of the house more."
I wasn't insulting you. I was commenting on what I felt was a very incorrect and biased viewpoint about buying a home in SF. The same old nonsense that only the rich can afford a home there
Quote:
Originally Posted by City Boy
Owning is almost impossible unless you're a millionaire.
I wonder how over one third of SF households do it then. To my surprise, median household income in SF is around $50,000 ... rather than say $700,000 ...
I wasn't insulting you. I was commenting on what I felt was a very incorrect and biased viewpoint about buying a home in SF. The same old nonsense that only the rich can afford a home there
I wonder how over one third of SF households do it then. To my surprise, median household income in SF is around $50,000 ... rather than say $700,000 ...
You can't be serious. There is Nothing incorrect about what I said. In case you haven't noticed It's not 1950 anymore. The people who own, bought the houses when you actually afford to buy them. You think you can move into SF and buy a average size home for less than 700k? Get real. Why don't you look around online and see what you can buy in SF for less than 700k that isn't falling apart. There is a reason why SF and NYC are the most unfordable places in the US. BECAUSE THEY ARE
I think he's talking about renting or some-such....but I said "own" so using your home definition to include condo's etc. as well as houses....I don't see it on 50k.
Maybe you are talking about buying a truck or van where you can park it on the street and sleep at night in the back. (Which I saw plenty of) It's not a house but it's a home.
P.S. Snotty comments followed by the eyes-rolling thing is insulting.... Moderator cut: Personal insult
You can't be serious. There is Nothing incorrect about what I said. In case you haven't noticed It's not 1950 anymore. The people who own, bought the houses when you actually afford to buy them. You think you can move into SF and buy a average size home for less than 700k? Get real. Why don't you look around online and see what you can buy in SF for less than 700k that isn't falling apart. There is a reason why SF and NYC are the most unfordable places in the US. BECAUSE THEY ARE
Yes, you are incorrect. I know several friends here who make $130-$150k/year who own homes. One makes $130k and owns a nice home in the Castro. He went in on it with friends who are a couple, who, together, make just over $100k. The three of them bought a house for $1.2MM, now valued at 1.3MM a couple years ago. My single friend lives in the top unit, the couple live in the middle unit, and the ground floor is a garage, studio (where I live) and nice big deck.
So yes, by saying you cannot own here unless you are a millionaire is indeed INCORRECT! Granted it's not going to be a two story, four bedroom house, with a large lawn (the average home), but most people live in SF because they like the urban/city life.
I, for one, would rather rent here for the rest of my life than own any where else. That's my preference. All my friends in the Twin Cities (Minneapolis/St. Paul) are homeowners now...and most of their mortgages are less than what I pay in rent for a studio. But, I am in San Francisco and they are in the Twin Cities. You get what you pay for, and living here IMO is more than worth the cost....to me....and that's what's important.
Yes, you are incorrect. I know several friends here who make $130-$150k/year who own homes. One makes $130k and owns a nice home in the Castro. He went in on it with friends who are a couple, who, together, make just over $100k. The three of them bought a house for $1.2MM, now valued at 1.3MM a couple years ago. My single friend lives in the top unit, the couple live in the middle unit, and the ground floor is a garage, studio (where I live) and nice big deck.
So yes, by saying you cannot own here unless you are a millionaire is indeed INCORRECT! Granted it's not going to be a two story, four bedroom house, with a large lawn (the average home), but most people live in SF because they like the urban/city life.
I, for one, would rather rent here for the rest of my life than own any where else. That's my preference. All my friends in the Twin Cities (Minneapolis/St. Paul) are homeowners now...and most of their mortgages are less than what I pay in rent for a studio. But, I am in San Francisco and they are in the Twin Cities. You get what you pay for, and living here IMO is more than worth the cost....to me....and that's what's important.
First off, I agree it's a really nice place....I'm merely pointing out one of it's few downsides and every place has them.
Assuming you and the guy making 130k cover 1/2 the mortgage....the couple making 100k combined have a 600k mortgage to cover which would be a monthly payment of around 5k.
This is where my bullcrap meter goes off.....the couple making 100k would have a hard time making the payments on even a 400k mortgage without really just scraping by. So, they must have had some serious downpayment or money from another source like prior home, inheritance etc.
You can't be serious. There is Nothing incorrect about what I said. In case you haven't noticed It's not 1950 anymore. The people who own, bought the houses when you actually afford to buy them. You think you can move into SF and buy a average size home for less than 700k? Get real. Why don't you look around online and see what you can buy in SF for less than 700k that isn't falling apart. There is a reason why SF and NYC are the most unfordable places in the US. BECAUSE THEY ARE
I wasn't even alive in the 1950s, and many of my friends & peers own homes, purchased in the last 5 years - and they're FAR from millionaires! These homes/condos ranged in price from $299K - $1M, and they all afforded them without a million-dollar salary. I don't know much about real estate, but it can be done... and as Milliano said, you can't dispute how many residents here own homes (and aren't making huge salaries).
Last edited by gizmo980; 09-21-2007 at 09:05 PM..
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However, reality for my moving to SF and I make a good wage....would be a major blow in terms of quality of life.
