Apartment rental rates, why so high? Is quality of life in San Jose that good? (hotel, employment)

[bigdumbgod]

Originally Posted by Anaseb

one would be better off making $10 an hour in a southern backwater than $35 an hour here.

"Better off" if you're a southern hick with an affinity for southern backwater culture. Otherwise, $35/hr in SJ is eminently doable. Might even be enough to run a moonshine still on the side.

[AA702]

Originally Posted by sjnative

"So high" because that's what the market will bear. Duh.

"Quality of life worth it?" is a misconceived question. People don't live in SJ so much for the QOL as becuase it's cheaper than Palo Alto/Menlo Park/Los Altos Hills/Los Gatos but it's still close enough to their tech jobs.

Re: northeastern winters- I'm a native of SJ, have lived here all my life and I don't need to live in the ne to know we have what I call perfect winters. The people in the snow belt taunt us by saying they we don't have "true" seasons and I hope they keep doing so if that helps them to rationalize living in their hell which I hope they stay in rather than coming to CA as we already have far too many people from the ne here in CA.

Grew up most of my life in the South Bay and San Jose winters are far from perfect. It still gets into the 30's and high 20's sometimes in the inland valleys and it can rain quite a bit in the winter. I agree that the "quality of life" is really what you make of it. My priorities are Family, Friends and cost of living rather than career advancement or weather. You have to ask yourself what is important to you and you make that choice in an intelligent and logical way.

[fashionguy]

I don't think the cost is worth it in San Jose. Somehow I think SF is worth it although it is more expensive because up there it does provide something different in terms of scenery and lifestyle. In most part of San Jose you get the yellow mountains, sad little trees who looks like they are dying, suburban amenities with city traffic and noise. Tech jobs here pay well initially but growth is usually limited (It is not like doctors or lawyers that you can expect steady hefty raises as experience is gained along your career). I think the high rent and housing price here partly are due to the Asian oriented demographic who are very frugal in other aspects of life and can put most of the money they earned into apartments or housing. Landlords and home sellers recognized this market potential so they raised the price to the point that if they never eat out, seldom travels, don't attend social events, etc. they can afford it. The middle class in the San Jose area definitely live at a lower standard than most other places in US. The median income is high, but if you take that income minus tax, and compare it with the housing and rental prices, most people here live a very poor life. Also keep in mind that a great many of people earn exactly around that point. In most other places in US, rich people who can afford similarly priced housing and rental earn much much more than that. There are rich people everywhere, and I doubt in any place in the US, that median income in San Jose can be called "rich".

San Jose winter is good but such can also be said about LA, San Diego, etc. and they are not as pricy. San Jose still gets quite hot in a few days in summer and in winter it is also one of the coldest place in the Bay area. You'll need both AC and heating in San Jose. Even east bay has better weather than San Jose.

That said, it all depends on what you think is important in life. It all comes down to whether you are happy or not.

Originally Posted by Guitarplr

I moved from San Jose to Albq back in 2007. Part of the reason I left was the high cost of rent/living. Since I've lived here in Albq Ive saved up some money and have considered moving back to San Jose. I been looking at rental prices and wow! Very expensive stuff. There's a huge part of me that understands why people are willing to pay the high costs, one of the reasons being the insanely could and oppressive winters most of the United States suffers from. It's a living hell being trapped indoors during the winter because its simply to dam cold to go outside. You people may be wondering why I'm complaining about winter and it's "Mid-June", Because winter time here in Albq is a living hell and impossible to forget about. So anyway, I was just wondering what people on here think about the cost of living in San Jose and if the Quality of life is worth the cost, as far as the mild San Jose winters are concerned I would say yes.

[bigdumbgod]

Originally Posted by fashionguy

You'll need both AC and heating in San Jose.

Heating is handy for some cold nights, but few have or pine for AC in SJ.

[josh u]

Originally Posted by mysticaltyger

This is the kind of attitude I was talking about and it's what's keeping California's economy in low gear. Go visit Detroit or many other cities in the East or Midwest that have experienced sustained population decline and report back before you go mouthing off about stuff you don't know about.

It's the myth that a region must have a growing population in order to have a growing economy.

Detroit's population fell because its economy declined, not the other way around. You reversed the cause and effect.

Look at San Francisco. Its population in 1950 was 775,000. Today it's 800,000. It basically hasn't grown in 60 years. Would you say SF's economy hasn't grown in that time? Why are its real estate values are up like 50 fold? Why are wages in SF so high? Clearly its economy has grown despite a stagnant population size.

[darkeconomist]

Originally Posted by josh u

It's the myth that a region must have a growing population in order to have a growing economy.

Detroit's population fell because its economy declined, not the other way around. You reversed the cause and effect.

Look at San Francisco. Its population in 1950 was 775,000. Today it's 800,000. It basically hasn't grown in 60 years. Would you say SF's economy hasn't grown in that time? Why are its real estate values are up like 50 fold? Why are wages in SF so high? Clearly its economy has grown despite a stagnant population size.

To an extent, yes, economic growth has been disconnected from population growth, as the economy has shifted toward engineering and high tech, both of which offer high margins. But, it's inaccurate to speak of SF like it's an island unto itself, and not part of an area that has exploded in population. The whole area went from a population of 2,681,322 in 1950 to 7,150,739 in 2010. So, of course the economy is going to grow when you have two powerful trends working simultaneously and feeding off one another.

[vrhunski]

Anyone who can afford to buy home for cash in San Jose should be fine here. I see problems only in housing
area other part of living here is just fine.

[tempest411]

How many people can scrape together 600K in any reasonable amount of time? The reality is that the huge majority in San Jose make between $10 and $15.00/hour, and stretch to unbelievable lengths just to pay the rent. I know there are a lot of home sales happening right now that are 100% cash purchases, and regardless where these people are getting these ungodly sums of money, whatever that mechanism that's allowing it, wreaks of a corrupt economic system.

[roadwarrior101]

Originally Posted by tempest411

I know there are a lot of home sales happening right now that are 100% cash purchases, and regardless where these people are getting these ungodly sums of money, whatever that mechanism that's allowing it, wreaks of a corrupt economic system.

So, are you inferring that there should be some social program in place to enable more people to buy affordable housing? That will only drive up the price of housing more for the rest of us. Lets face it, this is an incredibly expensive place to live and probably is not the best fit for those that are uneducated or aren't highly skilled in a specific trade. There are cheaper places people can move to that will better suit their needs.

You can make a legitimate argument that the Silicon Valley contains a ton of incredibly overpriced suburbs without the cool big city vibe. However, the plethora of high paying jobs, the good weather (compared at least to most of the rest of the country), the outdoor recreational opportunities and the proximity to many great weekend getaways are a trade off that many are willing to bear for the high cost. Yeah, I probably wouldn't have moved to the valley if it weren't for my job. However, it does grow on you and I've come to realize that my dream house is a multi-phase approach. I can't afford the 6 bedroom house that a friend of mine in Houston has, but who would want to endure those summers if they don't have to anyway?

[blauskies]

Originally Posted by tempest411

How many people can scrape together 600K in any reasonable amount of time? The reality is that the huge majority in San Jose make between $10 and $15.00/hour, and stretch to unbelievable lengths just to pay the rent. I know there are a lot of home sales happening right now that are 100% cash purchases, and regardless where these people are getting these ungodly sums of money, whatever that mechanism that's allowing it, wreaks of a corrupt economic system.

I like to know where these people live making $10 to $15/hour?