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Old 09-05-2012, 03:25 PM
 
Location: Bay Area
1,490 posts, read 2,680,024 times
Reputation: 792

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Quote:
Originally Posted by Tradesone View Post
Why are you all recommending such expensive places. Judging by the age of the OP & his wife he just finished residency and his wife is in Residency which means he probably doesn't have much money.
If it's that much of a concern, perhaps a move to the Bay Area isn't the best idea.
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Old 09-05-2012, 08:57 PM
 
Location: Baghdad by the Bay (San Francisco, California)
3,530 posts, read 5,137,259 times
Reputation: 3145
Quote:
Originally Posted by kretsch View Post
thanks everyone for your responses so far. i know SF is expensive but seeing prices in 3000 range for a one BR is still shocking. i also forgot that CA has a state income tax.
Then, you may not be ready for SF. Do your homework and come with eyes open. It is expensive, but the opportunities for growth in certain fields is far beyond what you are used to in Texas. The quality of life is likewise way ahead. Come ready to work. Come to earn what California provides. Don't expect this to be an extended vacation. This is a place that rewards ambition and ingenuity and punishes complacency. Some can't handle that. It's not for everyone.
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Old 09-06-2012, 11:36 AM
 
Location: SF Bay Area
802 posts, read 2,265,405 times
Reputation: 257
Quote:
Originally Posted by capoeira View Post
Maybe they will head back to Texas after paying $50,000 California state income tax on their form 540. For a high income couple,state income tax is more expensive than rent,even in SF.
In order to pay $50K in CA income tax, you'd have to have a very high income, high enough so that you wouldn't have to worry about state of the rental market. Our AGI was around $300K last year and we owed less than half of that to the state.
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