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wow, okay! thanks for the replies. i also realize that people working service industry jobs in SF can potentially make significantly more money than in other parts of the state. for example, $300 haircuts and servers making tips off $30 diner plates.
in response to a previous post, in my opinion, likening the "architecture" or Rio Rancho to the architecture of Santa Fe is a huge insult to the beauty, craftsmanship, and history of traditonal adobe architecture.
wow, okay! thanks for the replies. i also realize that people working service industry jobs in SF can potentially make significantly more money than in other parts of the state. for example, $300 haircuts and servers making tips off $30 diner plates.
in response to a previous post, in my opinion, likening the "architecture" or Rio Rancho to the architecture of Santa Fe is a huge insult to the beauty, craftsmanship, and history of traditonal adobe architecture.
A lot of ups and downs there. When everything got cut out, it looks like I had a conversation with myself.
I have been thinking more about your question. Thinking about the people I know living in 400K+ house, probably the basic answer is above average incomes in a two-income family that may have saved 20 years to get a big down payment on their dream house. Then it becomes a sweeping of types -- successful small businessmen and women, doctors, lawyers. upper level state government employees, upper level employees of Los Alamos and its contractors, myriad other businesses, even successful artists (they are not all starving), successful real estate agents, and as you suggest, employees of upscale restaurants -- and others I have forgotten.
Point is there is no one big employer like Microsoft or Google that pours out millionaires.
It may be that in certain neighborhoods -- eg, Las Campanas -- you would run into quite a few wealthy out-of-staters who moved in or bought second homes. I don't see much of those in my daily life. I think that area is way over-priced. Clearly they disagree. That makes the world go round.
Thinking about the people I know living in 400K+ house, probably the basic answer is above average incomes in a two-income family that may have saved 20 years to get a big down payment on their dream house. Then it becomes a sweeping of types -- successful small businessmen and women, doctors, lawyers. upper level state government employees, upper level employees of Los Alamos and its contractors, myriad other businesses, even successful artists (they are not all starving), successful real estate agents, and as you suggest, employees of upscale restaurants -- and others I have forgotten.
yes, i get this. and the tourism too feeds the local small business owners. it's just odd how santa fe is almost this little bubble of wealth within a very poor state.
please help me understand the santa fe demographics (i'm in abq).
i agree with thoughts from another recent thread, that santa fe isn't the extrememly unobtainable place it's cracked up to be, but it is true that real estate there is not cheap. last time we looked, we couldn't find much in the <400,000 range, in town.
so my question is, where are all the people affording these homes working? i know a fair number of homes are owned by folks out of state, but what about the people living and working in SF? what kinds of local work are supporting these houses? are people moving in-state with money aquired out-of-state? I just don't get it!
8 years ago, the Santa Fe Metro median house cost was $179,000 (current median is around $495K). A lot of people living and working in SF purchased their houses when they were still affordable. It's the increase in tax assessed value that kills those who aren't "Trustafarians"
8 years ago, the Santa Fe Metro median house cost was $179,000 (current median is around $495K). A lot of people living and working in SF purchased their houses when they were still affordable. It's the increase in tax assessed value that kills those who aren't "Trustafarians"
I know some people here and with maybe two exceptions they are hard-working two-income families or they retired after years of hard work. And they are quite happy with the thought that they can sell their house for more than they paid for it. And so am I.
Some interesting statistics on price changes over the five year period ending Sept. 30, 2007 from http://www.ofheo.gov/media/pdf/3q07hpi.pdf (broken link)
Las Cruces 57.39%
Santa Fe 57.40%
Albuquerque 57.42%
Farmington 58.16%
Seems like the price change is virtually identical in all of the metro areas in NM -- a little more than 50% over five years.
Last edited by Devin Bent; 02-05-2008 at 11:05 AM..
Reason: addition
We have been working towards this goal for 35+ years, and our financial decisions have always been made with this retirement move in mind. Many times we chose not to buy something expensive in order to save the money for retirement. So I kind of have to smile when I hear that everyone in Santa Fe is rich.
Just as we were about to buy, the housing/property costs in Santa Fe have skyrocketed. It's a mixed bag for us: our house will cost more than we have planned ... but the property we own in Eldorado is paid for ... and has increased in value six TIMES what we paid for it.
I know some people here and with maybe two exceptions they are hard-working two-income families or they retired after years of hard work. And they are quite happy with the thought that they can sell their house for more than they paid for it. And so am I.
Some interesting statistics on price changes over the five year period ending Sept. 30, 2007 from http://www.ofheo.gov/media/pdf/3q07hpi.pdf (broken link)
Las Cruces 57.39%
Santa Fe 57.40%
Albuquerque 57.42%
Farmington 58.16%
Seems like the price change is virtually identical in all of the metro areas in NM -- a little more than 50% over five years.
God bless 'em for getting a good cash out... what hurts is the marginalization of younger working folks who can't afford to buy in their home town...
Stats for Las Vegas housing are difficult to find but just verified these
for median house price:
2000- $82,000
10/2007- $189,000
an increase of around 134% in 7 years... beats the market, but is starting to outstrip the affordability for those dependent on the local job market.
It is sad when a town has to build "affordable housing" for teachers, firefighters, cops etc...
Some things visitors may not know. First Sante Fe is 7200 elevation feet while Albuquerqe is 5000. Sante Fe has controlled architecture. You are not allowed to build a swimming pool in Santa Fe (city and county). You can't find local day workers to help on the weekend, not like Southern Cal. All the people are friendly, easy to get acauainted. The air is perfect, almost no smog. You will get hooked on the sunshine, even on cold winter days it will warm up and actually be hot when the sunlight shines directly on you.
Traffic is light. Not much road rage. Most residential property include large lots ie 1/2 acre and up. The traffic police are very reasonable. I got stopped three times on one stretch of road by the same officer. The last time he told me he would give me a ticket if he stopped me again. Great hospitals and medical professionals. Maybe the best in the country.
Some of the smartest people in the world live here, Los Alamos Labs, Sandia Labs. But they all act like normal people. You will never need a fly swatter, you can cook a cow outside and not even see a fly.
Whenever I have been to Sante Fe, I felt like I was in Mexico; Which is not where I would want to be.As for the rest the economy is one where you have to bring your own wealth.
Whenever I have been to Sante Fe, I felt like I was in Mexico; Which is not where I would want to be.As for the rest the economy is one where you have to bring your own wealth.
Never been to Mexico then?
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A sweeping of types
Sante Fe
