patrick.net

Does this mean that tech workers with 4-year degrees and 25k in student loans are making more money than doctors with with 8-10+ years of college and 100+ in student loans?

I look around and parts of the B.A. are full of tech players and not much else.

Sell more painkillers, you assholes!

Blurtman says

Sell more painkillers, you assholes!

Yes, they are pharmaceutical puppets, but that's not all they do. We need doctors in the Bay Area. Just like we need teachers, nannies, bus drivers, and other service workers who are in short supply in the inner Bay Area. If no "service workers", including medical personnel, can afford to live here, then what is left?

Deceptive BS. They are talking about single persons. Most people who buy are married, and able to afford much more with both spouses working.

Strategist says

Deceptive BS. They are talking about single persons. Most people who buy are married, and able to afford much more with both spouses working.

I know plenty of people in your boomer generation that bought their own place on only one salary. We all know that one salary used to be sufficient back in the day. It no longer is for most workers. But you would still think doctors could afford a place here on their individual salary since they are one of the highest paid professions, supposedly. Or maybe that has changed? Maybe tech has supplanted them here in SV?

Indiana Jones says

We all know that one salary used to be sufficient back in the day

Because it was unusual for two spouses to work. Now it's the norm. The market has fucking adjusted. And let's not kid ourselves: doctors do not shop in the same neighborhood as waiters, so the article is dumb. "Only" 41% of all houses is affordable to doctors, how tragic. They probably wouldn't even look at 96.8% of these.

Straw Man says

"Only" 41% of all houses is affordable to doctors, how tragic.

So buy what you can afford.
It's what I did when I could not afford a $50 million ocean front Malibu mansion, and had to settle for a cheap shack.

DoctorFucks can always peddle vicodin in the tenderloin, rape obamacare insurance, and commission hits to harvest and sell organs on the black market. If they can't compete with the GoogleFucks in SF, they only have themselves to blame.

Wimps! Become a pharmaceutical salesman.
Less overhead & malpractice ins.
Plenty of hypochondriacs to use what your selling.
I think I got all those symptoms on TV.

Here are the 25 best-paying jobs, according to Glassdoor:

Physician. Median base salary: $180,000. ...
Lawyer. Median base salary: $144,500. ...
R&D manager. Median base salary: $142,120. ...
Software development manager. Median base salary: $132,000. ...
Pharmacy manager. ...
Strategy manager. ...
Software architect. ...
Integrated circuit designer engineer.

http://www.cnbc.com/2016/07/26/the-25-highest-paying-jobs-in-america.html

This breaks down the top professions further:

http://www.businessinsider.com/highest-paying-jobs-in-america-for-2016-2016-1/#1-anesthesiologist-20

Okay, so if doctors are still the highest paid professionals, and tech workers, lawyers and finance managers still trail behind in income, who are buying those 60% of homes that doctors can't afford? (WTF is taking over the BA real estate?)

Harvest organs from the homeless, passed out drunks, and subduable hitchhikers, and sell them to wealthy old Saudis and oligarchs, you lazy louts! You all took anatomy. Where is the ingenuity!!??

Indiana Jones says

who are buying those 60% of homes

Charley don't get stock options.

Blurtman says

Indiana Jones says

who are buying those 60% of homes

A third of the homes sold are for all cash. Many probably are with large down payments, which make it easier to qualify.

Strategist says

A third of the homes sold are for all cash. Many probably are with large down payments, which make it easier to qualify.

Rich Chinese corrupt officials with suitcases full of cash need a place to live.
Doctors should go to places they can afford, like NJ, or the fucking mid west.

Heraclitusstudent says

Rich Chinese corrupt officials with suitcases full of cash need a place to live.

Indiana Jones says

China's per capita income is less than $7,000 annually. I'm sure the cities are higher, but how does that justify the cost of housing 50% to 60% higher than San Francisco in their major cities?
Answer: It's not always the income that matters, but the wealth that the rich have accumulated. The median price of homes compared to the median income that we use as an affordability index does not give us an accurate measure of where home prices should be. We need a better indicator than the affordability index.

Ironman says

Strategist says

A third of the homes sold are for all cash. Many probably are with large down payments, which make it easier to qualify.

For the other two thirds sold with a mortgage today, the average down payment now is 6%, it keeps creeping down. I keep an eye on houses selling in my area, and the bulk that I look up are all going 3% down FHA.

Ok, but what is the average down payment in San Francisco?

Ironman says

If we have any down turn in the economy, we're going to repeat the same housing meltdown like in 2008, as many of these new buyers are underwater the day they move in.

We have had many downturns since WW2, but none so deadly as the 2008 crash, which happened after 80 years.
With the shortage of homes we are experiencing right now, believe me, a downturn is not on the horizon.