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Started By
Message
I read that the median home price in Palo Alto is $3.1 million.
Posted on 11/30/18 at 7:10 pm
Posted on 11/30/18 at 7:10 pm
Somebody tell me how the frick this is possible. How does California real estate not collapse? How do working people — hell, upper middle class people — afford million dollar houses? Are salaries higher? I just don’t get it, man.
24
Posted on 11/30/18 at 7:12 pm to Slippy
Well there are way way more high paying jobs out there.
Now having said that, even factoring for that idk how it works.
Now having said that, even factoring for that idk how it works.
Posted on 11/30/18 at 7:12 pm to Slippy
quote:FIFY
I just don’t get it, baw
Posted on 11/30/18 at 7:12 pm to Slippy
Salaries are much higher and inflated across the board.
And their market will crash and burn as soon as people realize they’re paying too fricking much and leave
And their market will crash and burn as soon as people realize they’re paying too fricking much and leave
Posted on 11/30/18 at 7:13 pm to athenslife101
quote:
And their market will crash
Link?
Posted on 11/30/18 at 7:13 pm to Slippy
they make more money than you.
it's not that complicated.
oh, they're balls deep in debt to be sure...but they still make more than you.
it's not that complicated.
oh, they're balls deep in debt to be sure...but they still make more than you.
Posted on 11/30/18 at 7:18 pm to Slippy
There is a lot of foreign money in those markets too, so just looking at US salaries won't explain the whole story.
Posted on 11/30/18 at 7:19 pm to Slippy
Check out what you get for 3 mil.
It’s like a $300 grand tract home in Louisiana.
It’s like a $300 grand tract home in Louisiana.
Posted on 11/30/18 at 7:21 pm to Bjorn Cyborg
How much of that wealth is built upon stock options. Lots of the tech companies use options as their own currency to pay workers, which works great as long as the stock is increasing in value. This has happened before, in about 1999-2000.
Posted on 11/30/18 at 7:25 pm to cable
My cousin lives out there and sold like a 1200 SQF rancher for nearly a million.
Posted on 11/30/18 at 7:26 pm to Slippy
quote:
Somebody tell me how the frick this is possible.
I believe it. Have family (2nd cousins) that lives there. They sold a 5,000 sqft house with pool and tennis court (for 2-3 mil) which was torn down to build a new house. Membership to the "Country Club" comes with a $110,000 initiation fee.
Posted on 11/30/18 at 7:29 pm to Slippy
quote:
How do working people — hell, upper middle class people — afford million dollar houses? Are salaries higher? I just don’t get it, man.
I grew up there when it was just a normal town. My dad made the rent working at a lumber yard. I visited the old house with my mom last year. This house last sold for over $2.5MM.
This post was edited on 12/1/18 at 1:45 am
Posted on 11/30/18 at 7:32 pm to northshorebamaman
Do the janitors, bartenders and hotel maids just live an hour and a half away? All cities have poor people somewhere.
Posted on 11/30/18 at 7:32 pm to Slippy
I was just in Palo Alto recently. I wouldn’t pay 100k to live there.
Posted on 11/30/18 at 7:33 pm to Slippy
Population scale. There is 40 M people in CA.
Posted on 11/30/18 at 7:33 pm to Slippy
It's not that difficult to afford a million dollar home 
Posted on 11/30/18 at 7:35 pm to fallguy_1978
quote:
Do the janitors, bartenders and hotel maids just live an hour and a half away? All cities have poor people somewhere.
I have no idea how they do it. We got out of there when it started going insane. Escaped to San Jose which is also insane now.
Posted on 11/30/18 at 7:48 pm to Slippy
quote:
How do working people — hell, upper middle class people — afford million dollar houses?
We don't. We live in places like Rancho Cucamonga, Riverside and Chico.
Or I live with my sister and her family. Her husband bought the house almost 20 years ago for a metric frick ton less than what it would go for now.
Posted on 11/30/18 at 7:56 pm to TheMailman
quote:
It's not that difficult to afford a million dollar home
For maybe 10% of the population. There are less than 2.5 million homes values at a million
A city also has to have service employees, teachers, mechanics, retail employees...
This post was edited on 11/30/18 at 7:59 pm
Posted on 11/30/18 at 7:58 pm to Bjorn Cyborg
quote:
Check out what you get for 3 mil.
It’s like a $300 grand tract home in Louisiana.
Hell that house that Dr fraud lives in would be less than 200k in Arkansas.
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