They say a picture is worth a thousand words. This describes the Bay Area. (Oakland: apartment complex, to rent)

[Ceece]

I'm not sure what the point of this thread is. People who bought land long ago paid less than people will have to pay today. That's almost a universal truth. What new thing are we supposed to do with that info OP?

[Ultrarunner]

It doesn't even have to be long ago... I bought in 2003 and people who bought between 2008-12 paid significantly less.

It was so much less that I often heard it said prices would never come back in our lifetime...

We now know it took about 4 years for a full comeback.

Real Estate has always been ups and downs...

There was a time when 15% interest was the only problem... then it was too hard to qualify.

[Moddedintegra56]

Originally Posted by neutrino78x

Well, 46% are renting.

Many of those who can afford to buy are buying condos rather than SFHs.

I'm not sure what your aversion is to condos. Here in the Bay Area, a condo is middle class. A SFH is upper class, here.

do they even make SFH anymore. everything has been condos/townhomes attached, with high HOA.

I think I saw new SFH detached being built in DALY CITY, how much? starting in the 1mil+ and thats for the smallest plan starting.

what does middle class classify as in the US? the bay area is a diff beast for sure. According to wikipedia:

The term middle class in more colloquial language use may refer to all those individuals who might at one point or another be identified as middle class, as they occupy neither extreme of the socio-economic strata. Most of those with households income between $40,000 and $95,000 identify as "middle class".

Most middle class folks I know who make 40-95K house hold income int he bay are POOR. can't even afford those newly built condos that cost $600-700K in a bad area because the nice areas for same condos are more like $800-1Mil.

i dont care what people say im moving to the Valley. I can't leave CA. I don't have to work in tech so there is little reason for me to stay in the Bay. The many people who hate on the Valley with the air and location and say there is nothing here--well I'll have a nice big detached SFH and with the same pay I was making in the bay area, my mortgage and property tax will be low that I'll have so much money left over to do extra curricular activities and spending. The same people who hate can continue to do so with their $3000 rent living nearly paycheck to paycheck just to say they are living in the bay and hating on the people in the Valley.

[Ultrarunner]

A definition of middle class by income comes up short in the SF Bay Area...

I know plenty of retired people... some widows with incomes between 20 and 40k... this is their Income.

However, that net worth could be easily a million or more... mostly due to their home values.

My Grandfather said it is not what you make... but what you keep...

[RMESMH]

Originally Posted by neutrino78x

For hundreds of years, SF was the largest city in a 300 mile radius.

Nope. SF hasn't been a city for hundreds of years. SF will celebrate 166 years as a city on April 15th, 2016

That changed in the past 15 years or so and San Jose is in that position now.

Nope. Almost double that 15 years. San Jose passed SF in population in the 1980s.

[justinbro2002]

Originally Posted by Moddedintegra56

do they even make SFH anymore. everything has been condos/townhomes attached, with high HOA.

I think I saw new SFH detached being built in DALY CITY, how much? starting in the 1mil+ and thats for the smallest plan starting.

what does middle class classify as in the US? the bay area is a diff beast for sure. According to wikipedia:

The term middle class in more colloquial language use may refer to all those individuals who might at one point or another be identified as middle class, as they occupy neither extreme of the socio-economic strata. Most of those with households income between $40,000 and $95,000 identify as "middle class".

Most middle class folks I know who make 40-95K house hold income int he bay are POOR. can't even afford those newly built condos that cost $600-700K in a bad area because the nice areas for same condos are more like $800-1Mil.

i dont care what people say im moving to the Valley. I can't leave CA. I don't have to work in tech so there is little reason for me to stay in the Bay. The many people who hate on the Valley with the air and location and say there is nothing here--well I'll have a nice big detached SFH and with the same pay I was making in the bay area, my mortgage and property tax will be low that I'll have so much money left over to do extra curricular activities and spending. The same people who hate can continue to do so with their $3000 rent living nearly paycheck to paycheck just to say they are living in the bay and hating on the people in the Valley.

if you have a job in the valley making the same pay as your bay area counterpart more power to you. but most people living in the valley commute to the bay area and that is a horrible drive most days. Work 8 hours a day and spend 4 hours on the road. It's like working a second part time job. What good is a 3500 sqft house you never get to enjoy?

[Perma Bear]

Originally Posted by justinbro2002

if you have a job in the valley making the same pay as your bay area counterpart more power to you. but most people living in the valley commute to the bay area and that is a horrible drive most days. Work 8 hours a day and spend 4 hours on the road. It's like working a second part time job. What good is a 3500 sqft house you never get to enjoy?

Still better than sharing a single bedroom with 5 other people like they did in tenements during the gilded age.

[WizardOfRadical]

Government jobs in the legal industry pay 8-10% less for the valley than coastal jobs. But with the cost of housing cut by 66% you will come out with more money.

[Oakformonday]

Originally Posted by justinbro2002

if you have a job in the valley making the same pay as your bay area counterpart more power to you. but most people living in the valley commute to the bay area and that is a horrible drive most days. Work 8 hours a day and spend 4 hours on the road. It's like working a second part time job. What good is a 3500 sqft house you never get to enjoy?

The poster you are responding to does not live in the valley now. (I'm not sure what that means but I'll assume Stockton or Tracy???). Anyway, this poster has put himself in a SFH with loads of money and time left over. It is not clear that he will be working in this valley or commuting. Just a fantasy and not sure how much of it is based on reality.

Anyway, I agree, I cannot imagine commuting 4 hours round trip daily just for a bigger living quarter that you are never home to enjoy. Not worth it in my book but we all have some variation of what we think is ideal. I find my 15 minute bicycle commute ideal. Others may not b/c I don't live in a SFH. Ta each is own.

[BayAreaHillbilly]

Originally Posted by Perma Bear

This describes the Bay Area to a T.

We still have about 4 households on our street that are from that era. Of course, none of their kids ended up living in The City / on The Peninsula - best case they are in the East Bay but many left the area altogether.