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Post Reply Housing in Silicon Valley is now insane
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39 / Inside your compu...
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Posted 9/1/16
Case in point

Some guy at Google living in the company parking lot (brilliant plan, actually)
http://www.businessinsider.com/google-employee-lives-in-truck-in-parking-lot-2015-10

This is why some people make over six figures and still couldn't save all that much. I've got mortgage and property taxes up the wazoo. I have to seriously save up for that property tax. One of my coworkers couldn't retire because of her darn house.

All the houses in my neighborhood are either close to a million dollars or over. If you take a look at those houses you would laugh at me and say "you're lying, those aren't million dollar houses what are you smoking I want some too"

There's a house about 2 streets away from me that's even smaller than my house and it's worth over a million bucks.

What??? Why????

...and everyone in the Bay Area would agree that all the housing construction is getting out of control. They re-zone every single tiny little piece of land that they could and turn that tiny piece into a housing parcel.

So you have

(commercial land)(commercial land)(commercial land)(commercial land)(HOUSING)(commercial land)

...and new duplexes springing up literally right between the freeway and the railroad tracks like weeds sprouting up between the cracks of a sidewalk after a rain shower.

Stores and shops getting kicked out of their rental land left and right so the land owners could sell them to housing developers.

This is not to mention the insane traffic, which doesn't let up on the weekends.

Plus my car windshield got cracked from all those stupid rock-carrying trucks spraying rocks all over the place... I gave up after the windshield cracked again exactly one week after I replaced the first cracked windshield, wife just didn't bother fixing her windshield at all.

The economy's great now, right? That's why all those layoffs are happening in tech... http://money.cnn.com/2016/08/17/technology/cisco-layoffs-earnings/index.html

It's okay. Just make all those trucks stop soon.
Humms 
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Posted 9/1/16
Yup, people would rather build a house on 4 wheels. Pretty soon that will be the only way for most people.

Save your money.

Save your money now. That is your retirement plan. the money you put into your own pocket.

Im Glad I started saving steady about a year ago
Posted 9/1/16
I found an advert of a 1 bedroom, 1 bath in Colorado for the low, low price of 1350 a month. Not including utilities
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Posted 9/1/16
No house, even in the San Francisco Bay area, is "worth" that much. It may be valued at that, but that's just because they know they can squeeze that much.

As long as people with more money than sense continue to pay these inflated prices for the prestige of living there, it's not going to fix.
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Posted 9/1/16

gornotck wrote:

No house, even in the San Francisco Bay area, is "worth" that much. It may be valued at that, but that's just because they know they can squeeze that much.

As long as people with more money than sense continue to pay these inflated prices for the prestige of living there, it's not going to fix.


It's not prestige, it's speculation and profiteering- People like me aren't there by choice, we have to live there to work.
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Posted 9/1/16 , edited 9/1/16
This is why I still live with my parents in the bay area. I can't afford to buy a house, and I know It's not worth it. Even though I make more than the median income in the bay area..bleh I do not want to live pay check to paycheck either. Someone at my company making 150k is BARELY scrapping by (3.5k rent for 1 room apartment..F!!!). A fing down payment on a house is crazy. here.since it's what 10 percent?

I need to find a waifu (dual-income) or just move to another state. Or I guess I could go to LA, since the bay area with its traffic is just like LA; could afford a house there. My parents have not driven me insane where I want to get married or move ..yet..but I'm almost there.
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Posted 9/1/16

nanikore2 wrote:


gornotck wrote:

No house, even in the San Francisco Bay area, is "worth" that much. It may be valued at that, but that's just because they know they can squeeze that much.

As long as people with more money than sense continue to pay these inflated prices for the prestige of living there, it's not going to fix.


It's not prestige, it's speculation and profiteering- People like me aren't there by choice, we have to live there to work.


That wasn't to say that you live there for prestige, just that 'prestige' is what's driving that profiteering and speculation. Google searches have San Francisco's Bay area as one of the most prestigious areas to live in after New York City. Articles after articles about why it's so great to real estate there.
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Posted 9/1/16 , edited 9/2/16
Tell me about it.. I have no other choice but to live in the Bay Area and pay the exorbitant rent since I go to grad school there.

I live in a tiny 2-bedroom (about 1000 sqf) near my campus and the rent is almost 3.5k (!?!). I used to work but not anymore so my parents help me paying for my rent. I have a friend who lives in a suburb near Las Vegas, she only pays 1k for a 3-bedroom townhouse that is almost 2000 sqf, and the house is fairly new, it was built in 2010. Less than 1/3 of what I'm paying for a much smaller apartment! But State of Nevada is also one of the state with the highest unemployment rate (my friend was just laid off from her job), that's why housing is much cheaper there compared to here.

In Southern California (Orange County) where my parents live the housing situation there is also bad though not as outrageous as in the Bay Area. Most houses in the neighborhood are between 1-2 millions, and they're not even gigantic mansions, just regular, normal-size houses about 2000 to 3000 sqf. But at least the buildings there are much newer than houses in the Bay Area which are mostly old houses.
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Posted 9/2/16
Folks in the Bay Area were paying property taxes almost 10% of the home worth back in the late '60's. I used to commute from San Jose to work in Palo Alto (before tech took off and made prices rise exponentially) because even back then the rents were beyond my means. I left California 1969 and emigrated north to Seattle where my mother resided at the time. Got there just in time for the recession. Wound up becoming self-employed by paying a down and driving a big rig (yey, first college degree....joking) for the next 9 years. Bay Area was always expensive but more so now than ever before. I blame tech and a spendthrift state government but I don't really know why everything out there is sky high pricey.

Bay Area traffic: back in the late '60's you had to leave San Jose around 6:30AM if you wished to arrive in SF by auto by 9 AM. The commuter train was quicker albeit more expensive and the SP crews were less than kind about everything. Much worse now.

I've got a friend who moved to LA area 10 years ago from the Midwest. He lives near Barstow (aka Barstool) and commutes by car everyday to a job somewhere in LA. He couldn't afford the LA housing even when his company pays him a 30% rental stipend monthly. Thus, he and his family get by far away.

I live in the Midwest because it's affordable. No way could my wife and I afford housing on the West Coast unless it was inland.....far inland.
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Posted 9/2/16 , edited 9/2/16

bemused_Bohemian wrote:

I've got a friend who moved to LA area 10 years ago from the Midwest. He lives near Barstow (aka Barstool) and commutes by car everyday to a job somewhere in LA.


Geez! That's a loong commute! Barstow is roughly at the midpoint of LA-Las Vegas, so it's about 2 1/2 hrs drive from Barstow to downtown LA via 15 Freeway if the traffic is not bad (which is a rare occasion).
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Posted 9/2/16
Its gotten pretty crazy here in the bay area. Eventually its going to pop, just don't know when. I remember reading an article a while back about someone renting the crawl space below someone's house in San Francisco for some absurd amount. A crawl space...dirt....spiders...ect. I know people working six figure jobs that have to share housing. If you live around here, I say save up and wait for the next economic collapse.

This is the norm...
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Posted 9/2/16
One of the reasons that I didn't want to live in San Fran. Sacramento area is much more reasonable, though I think its rising. Pay for my line of work is comparable, as well.
Posted 9/2/16
Silicon Valley... sounds like the capital of breast implants.
gsm642 
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Posted 9/2/16 , edited 9/2/16
At some point the entire local economy will collapse because people will start turning down jobs and or move out of the area to more affordable ones I have turned down some job offers in the past simply because I didn't want to pay $4000 a month in san Francisco for rent so did one of my friends who got a job a Adobe
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Posted 9/2/16

gornotck wrote:

That wasn't to say that you live there for prestige, just that 'prestige' is what's driving that profiteering and speculation. Google searches have San Francisco's Bay area as one of the most prestigious areas to live in after New York City. Articles after articles about why it's so great to real estate there.


This world is full of nonsense. If I want to live somewhere prestigious (and have no other concern) I'd live in Beverly Hills where all those movie stars and celebrities are.
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