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Hacker News' “Who is Hiring?” thread, part 2, remote and locations

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Re: Hacker News' “Who is Hiring?” thread, part 2, remote and locations

#181

Post by Tsagadai »

branchless wrote: post #132
mahyarm wrote: post #121

Earlier quoted context omitted.

Also known as supply vs demand... Bay area is infamous for many housing supply constraints in regulations. As far as loans increasing the demand side, banks can be pretty strict with %20 down payment restrictions. Which is why once houses go out of the dual income high earner price range ($1-1.5 million), you start seeing it overflow to other less desirable regions in the bay area.

But the creation of credit costs nothing therefore rent extraction can scale up to match productivity gains in a heartbeat.

Which given that land is limited (you can only go so far out before you are in another place) then the price of the building will increase. It is possible to end up in a situation where even very wealthy workers cannot afford to rent within hours of a city. Sydney, Melbourne, London and Vancouver are examples where this is starting to happen.

it has not happened yet but it is certainly pricing many out at lower ends of the income scale.

Re: Hacker News' “Who is Hiring?” thread, part 2, remote and locations

#182

Post by climb12 »

nedwin wrote: post #180
bogomipz wrote: post #163

Earlier quoted context omitted.

Can I ask what 36K in rent affords and roughly which part of the Bar Area?

$3k per month should get you a studio apartment in the Mission, SOMA, downtown etc. If you're willing to share you can get for cheaper. If you want 1 bedroom you're going to struggle to find something for $3k.

Less 3k a month is in solid 1 bedroom territory for those neighborhoods these days. Around ~$2700 is what I'm seeing in my search for decent 1bedrooms in good SF neighborhoods.

Re: Hacker News' “Who is Hiring?” thread, part 2, remote and locations

#183

Post by mnbcvx »

thesmart wrote: post #166
anonymousguy wrote: post #45

Earlier quoted context omitted.

Or, just leave the bay area... http://www.moving.com/real-estate/compare-cities/results.asp... Seriously... why should a smaller house cost nearly 10x more in the same country? You won't be paid 10x less where the cheaper houses are.

Uhm, usually because living in the Bay Area is actually a 10x better life for some people. Great weather, very diverse, lots of jobs, public transit is good, arts are amazing, food is amazing, close to sea and ski, etc. etc.

Somehow I doubt that any of that has too much effect on quality of life. I live on less than 400 USD per month and I bet I'm happier than the average Bay Area resident. I also know that I eat far better. Via the internet I have access to all the arts I could ever want. My transit is a bicycle, which is ideal for me. My city is FAR more diverse than anywhere in the US and I'm a few hours from the sea. Weather is a bit hot but I like that. But like I said, pretty sure whether I'm happy vs. sad derives from something else entirely.

Re: Hacker News' “Who is Hiring?” thread, part 2, remote and locations

#184

Post by whoiskevin »

newjersey wrote: post #173
branchless wrote: post #134

Earlier quoted context omitted.

No, many hot-spots have large rentier presence including people "owning" and renting out multiple residencies which causes huge supply pressure. Credit also typically increases ahead of wages which squeezes people further. This isn't supply of people vs supply of homes, this is supply of credit. If you neutralise this you will see prices fall and be paying less of your labour to banks. 2008 - the credit taps ran dry…

I don't know why it is outrageous to say the solution to high rent is to build more. We shouldn't worry about "squeezing" people out. Ours is a HUGE nation. We have A LOT of natural resources and there is no reason why we can't let people build more (outside of protected areas, of course). People who are "priced out" should move to places where rent costs less. I keep hearing about property owners having enough polit…

Water? Nation has natural resources. Valley does not.

Re: Hacker News' “Who is Hiring?” thread, part 2, remote and locations

#185

Post by makerman1982 »

dragonwriter wrote: post #123
lostlogin wrote: post #119

Earlier quoted context omitted.

I've just been chewing that over. That childcare cost is phenomenal and illustrates Bay Area prices to me better than housing cost examples. Unless that cost is completely misleading...

> That childcare cost is phenomenal and illustrates Bay Area prices to me better than housing cost examples You can pay that much for elite child care in places that aren't the Bay Area. The Bay Area probably has more people that are price-insensitive enough to imagine that the kind of places that charge that much are a reasonable minimum for "high-quality" child care, though, but that's more a difference in incomes…

To be fair "elite" here means a child care facility that can stay overtime when I am stuck in the office on production duty till 9pm, which is like every week. This isn't a government job where I'm guaranteed exit at 5pm on the clock.

Re: Hacker News' “Who is Hiring?” thread, part 2, remote and locations

#186

Post by makerman1982 »

dmode wrote: post #131
source99 wrote: post #99

Earlier quoted context omitted.

Just for fun: $300K pre tax. Tax rate of 40% $180K after taxes High Quality Child Care for 2 Children = $6K per month or $72K / year 108K after childcare 3Br house in SF - http://sfbay.craigslist.org/search/hhh?search_distance=4&pos... Call it $6K / month or $72K per year $36K left after housing + Childcare + taxes. $3K / month for transportation, food, clothing, vacations. Good luck...

This is a wildly exaggerated calculation. I make roughly around 300k and my effective taxes (both Fed and State combined) was 28%. I also have daughter and she goes to daycare that costs me $1200/month. I also own a 5 bedroom 2800 sqft house in East Bay, that costed me around a million bucks and the mortgage is around 3500 including insurance and property taxes

My 300k is 1/3 in private stock options which may not actually become money for another 5yrs, if ever. They don't accept it in exchange for homes and my 200k income isn't enough to buy a home, esp given there is a mass layoff every 7yrs. House prices go up more than the down payment I save each year so I get further from owning a home. Oh, and the east bay is about 2hrs fro SF so I'd never see my kids even if I bought a home

Re: Hacker News' “Who is Hiring?” thread, part 2, remote and locations

#187

Post by makerman1982 »

dmode wrote: post #131
source99 wrote: post #99

Earlier quoted context omitted.

Just for fun: $300K pre tax. Tax rate of 40% $180K after taxes High Quality Child Care for 2 Children = $6K per month or $72K / year 108K after childcare 3Br house in SF - http://sfbay.craigslist.org/search/hhh?search_distance=4&pos... Call it $6K / month or $72K per year $36K left after housing + Childcare + taxes. $3K / month for transportation, food, clothing, vacations. Good luck...

This is a wildly exaggerated calculation. I make roughly around 300k and my effective taxes (both Fed and State combined) was 28%. I also have daughter and she goes to daycare that costs me $1200/month. I also own a 5 bedroom 2800 sqft house in East Bay, that costed me around a million bucks and the mortgage is around 3500 including insurance and property taxes

So how do you get away from FICA/SocialSecurity taxes?

Re: Hacker News' “Who is Hiring?” thread, part 2, remote and locations

#188

Post by cscurmudgeon »

ryandrake wrote: post #42
TrickzOnU wrote: post #16

I loved this line from the article "With unsolved US VISA problems for STEM workers, IT companies might have to get creative to hire potential employees." -- Yeah, creative...like paying a living wage for the location. Pay salaries that will allow someone to rent their own 1B (not bunking) and the "shortage" will magically disappear.

Yep, the tired old "Shortage of Engineers" meme is bound to come up in any discussion about tech hiring that ignores compensation. Saying there is a shortage of something in a market only makes sense given a price. Sure, there is probably a shortage of Bay Area engineers if you're paying $70K, but I bet there is no shortage if you're paying $400K.

I bet there is no shortage if you're paying $4 million.

Re: Hacker News' “Who is Hiring?” thread, part 2, remote and locations

#189

Post by Retric »

branchless wrote: post #167
danieltillett wrote: post #153

Earlier quoted context omitted.

Rents can only increase if the supply is limited compared to the demand. Anything that decreases supply why demand is high will only increase prices. The solution is to either increase supply or decrease demand for housing.

I guess they didn't get the memo on this in all the pre 2008 countries where supply was being added like crazy and so was credit and prices rose before a huge crash. It's very naive to think that this is simply any one factor, especially supply and demand alone. Why are economics conversations so limited?

Markets can stay irrational for a while, however the crash was a direct result of over supply. Land is plentiful and city's only have reduculys prices through poor infrastructure or artificially reduced development.

Re: Hacker News' “Who is Hiring?” thread, part 2, remote and locations

#190

Post by Retric »

whoiskevin wrote: post #184
newjersey wrote: post #173

Earlier quoted context omitted.

I don't know why it is outrageous to say the solution to high rent is to build more. We shouldn't worry about "squeezing" people out. Ours is a HUGE nation. We have A LOT of natural resources and there is no reason why we can't let people build more (outside of protected areas, of course). People who are "priced out" should move to places where rent costs less. I keep hearing about property owners having enough polit…

Water? Nation has natural resources. Valley does not.

California has plenty of water for people, it just wastes most of it on crops poorly adapted for the area.
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