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Old 02-16-2018, 07:59 PM
 
Location: Oakland, CA
28,226 posts, read 36,855,940 times
Reputation: 28563

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Welcome to the Bay where Google engineers struggle to afford housing.

https://www.sfgate.com/realestate/ar...e-12614111.php
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Old 02-16-2018, 08:00 PM
 
4,315 posts, read 6,277,731 times
Reputation: 6116
Quote:
Originally Posted by jade408 View Post
Welcome to the Bay where Google engineers struggle to afford housing.

https://www.sfgate.com/realestate/ar...e-12614111.php
Time to cash in the chips and move to greener pastures!
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Old 02-16-2018, 10:05 PM
 
5,381 posts, read 8,683,351 times
Reputation: 4550
San Francisco's cheapest recently listed house is a complete dump expected to close at near $520K:

San Francisco's cheapest single-family home will sell for over $500,000 — and it reveals how bad the housing crisis has become
https://www.msn.com/en-us/money/real...anntp#image=14
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Old 02-17-2018, 12:13 AM
 
Location: SF Bay Area
18,980 posts, read 32,627,760 times
Reputation: 13630
Quote:
Originally Posted by jade408 View Post
Welcome to the Bay where Google engineers struggle to afford housing.

https://www.sfgate.com/realestate/ar...e-12614111.php
Welcome to the “City of San Fransisco”....let’s not try to pretend that income is required for the Bay Area in general. But insane nonetheless.
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Old 02-17-2018, 06:56 AM
 
10,920 posts, read 6,905,438 times
Reputation: 4942
Quote:
Originally Posted by jade408 View Post
Welcome to the Bay where Google engineers struggle to afford housing.

https://www.sfgate.com/realestate/ar...e-12614111.php
Craziness.

Of course, this is assuming you're putting a "normal" down payment percentage down. As well, assuming that you won't be outbid by an all-cash (or mostly cash) offer.
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Old 02-17-2018, 08:01 AM
 
Location: San Francisco born/raised - Las Vegas
2,821 posts, read 2,108,580 times
Reputation: 1905
Last October, my youngest sister and BIL were looking for a rental property in San Bruno.

The asking price for this SFH was some $1.2M. My father had told them to offer $200K more. The winning bid was $300K more.

My daughter and son are 3rd generation here. They will be the last generation in our family that will have been able to comfortably purchase a home in the immediate S.F. area. One of the 4th gen kids is just starting college. I do not see how he will be able to purchase his first home.
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Old 02-17-2018, 08:15 AM
 
4,315 posts, read 6,277,731 times
Reputation: 6116
Quote:
Originally Posted by sav858 View Post
Welcome to the “City of San Fransisco”....let’s not try to pretend that income is required for the Bay Area in general. But insane nonetheless.
Well, it is if you want a decent home in a safe area with good schools and without a massive commute.
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Old 02-17-2018, 10:59 AM
 
Location: Oakland, CA
28,226 posts, read 36,855,940 times
Reputation: 28563
Quote:
Originally Posted by roadwarrior101 View Post
Well, it is if you want a decent home in a safe area with good schools and without a massive commute.
Oh come on. You only need about $250k household income to get a place in Oakland it’s a steal!

The median income in the region is about $80k so the home math is way off.
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Old 02-17-2018, 11:03 AM
 
Location: Oakland, CA
28,226 posts, read 36,855,940 times
Reputation: 28563
The Mercury News alluded to the fact that working as an engineer at a top company still puts you at an unfavorable debt to income ratio for a median home in your office’s city. SF’s median is cheaper than the peninsula.

https://www.mercurynews.com/2018/02/...gle-engineers/

Last edited by jade408; 02-17-2018 at 11:37 AM..
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Old 02-17-2018, 11:12 AM
 
4,315 posts, read 6,277,731 times
Reputation: 6116
Quote:
Originally Posted by jade408 View Post
Oh come on. You only need about $250k household income to get a place in Oakland it’s a steal!

The median income in the region is about $80k so the home math is way off.
https://www.redfin.com/CA/Oakland/61...1/home/1577491

https://www.redfin.com/CA/Piedmont/1...11/home/643176

Ok, I just did a quick search for where the schools are good in Oakland and the home would comfortably fit a family of 4. $250k would be a stretch, and that's assuming you have a large down payment.

Yes, you could get a lot cheaper by sacrificing the size/quality of the house or the school district (e.g., going to schools rating less than 8 out of 10), but that's exactly my point.
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