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The only way to make out on it is to move to a less expensive area and pocket the difference.
The title neglects to mention that we also have some of the highest salaries in the nation (and the best weather).
What it really comes down to is this however:
a.) supply/demand
b.) not how much you make but how much you make compared to everyone else in your perspective micro-economy
Ceffer saysThe only way to make out on it is to move to a less expensive area and pocket the difference.
There's actually two options:
a.) As you say above, make your money and move to a less expensive area
b.) Sell and rent for a while if you think things have a good chance at cooling off over the next X years
Those houses are in pretty shitty areas as well. I presume the one marked Palo Alto must be East Palo Alto. That size lot in some nearby areas would probably bag you a fair few million.
anon_f443d saysThose houses are in pretty shitty areas as well. I presume the one marked Palo Alto must be East Palo Alto. That size lot in some nearby areas would probably bag you a fair few million.
You really expect affordable homes for the poor in a multi millionaires neighborhood? Do you know anyone who is willing to buy a $3 million home, and sell it for for $300,000, just to make it affordable to a poor person?
If we are to solve the home affordability problem, can we get more realistic? Thanks.
Strategist saysanon_f443d saysThose houses are in pretty shitty areas as well. I presume the one marked Palo Alto must be East Palo Alto. That size lot in some nearby areas would probably bag you a fair few million.
You really expect affordable homes for the poor in a multi millionaires neighborhood? Do you know anyone who is willing to buy a $3 million home, and sell it for for $300,000, just to make it affordable to a poor person?
If we are to solve the home affordability problem, can we get more realistic? Thanks.
What has your post got to do with what I said?
This is why I have difficulty believing so much that I read and see.
As an outside observer, I don't see why anyone would want to live in the Bay Area. The flipping house in the following link (first in slide show) sold for $540k (I know it's the land, but that's still nuts). http://www.mercurynews.com/2017/11/09/charting-the-bay-areas-housing-affordability-crisis-500000-homes-are-becoming-an-endangered-species/
And upon further investigation, house number one (the address listed below the photo) is actually number 9 in the slide show. How can you fuck up a slide show that bad? This is why I have difficulty believing so much that I read and see. This is a pretty ridiculous error by the Mercury News.