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San Francisco median one bedroom apartment rent hits a new peak of $3,690

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Re: San Francisco median one bedroom apartment rent hits a new peak of $3,690

#151

Post by idDriven »

cm2012 wrote: post #3

For those who live in SF - what's the cost of a one bedroom rent 1 hour from most jobs in SF? I know in NYC you can reliably get that for around 1500.

2k for a studio in Dublin, east bay area about 1 hour via Bay Area Rapid Transit, assuming you can walk to work because BART is extremely limited for a mass transit system. 3k for a two-bedroom, so probably split the difference for a 1-bed. It wouldn't be so bad if we had better mass transit, there are only a handful of stops in SF and if you have to take a bus from there your commute time probably doubles to 2 hours. Buses suck.

Re: San Francisco median one bedroom apartment rent hits a new peak of $3,690

#152

Post by allahreturns »

Thlom wrote: post #150
allahreturns wrote: post #93

Earlier quoted context omitted.

> all people deserve shelter as a basic human right No they don't. You are saying that we must award same quality of life to both kind of people: a) one who are meeting economic demand b) who are failing to meet their economic expectation Sorry but if you award the second group, you automatically demotivated first group to continue with their economic obligations.

Sorry, but what you are saying is that society shouldn’t give a shit if people freeze to death on the streets because they have no shelter. That is pretty disturbing to be honest.

Survival of the fittest has always been rule of the nature, why we must change it now?

Fighting natur is fultile, those who are intelligent able will always have more money, more survival than those who are no.

Re: San Francisco median one bedroom apartment rent hits a new peak of $3,690

#153

Post by [deleted] »

rayiner wrote: post #19
askafriend wrote: post #2

On one hand, it’s a very high price. On the other hand, no one is entitled to a one bedroom unit in the heart of one of the human epicenters in the world. Many people here have roommates or alternate living arrangements. There are several reasons why the prices have gotten so high (lack of supply, politics, etc). But don’t expect to move your Texas ranch or Midwestern single-family-house lifestyle to SF with no compr…

> On one hand, it’s a very high price. On the other hand, no one is entitled to a one bedroom in the heart of one of the human epicenters in the world. Many people here have roommates or alternate living arrangements. New York is the “human epicenter” in the US. San Francisco is in the same tier as Houston or DC: https://www.lboro.ac.uk/gawc/world2018t.html . Paying New York/London prices to live in a city that is no…

[deleted]

Re: San Francisco median one bedroom apartment rent hits a new peak of $3,690

#154

Post by [deleted] »

stale2002 wrote: post #53
towaway1138 wrote: post #48

When headhunters contact me about SF (or even Bay Area) jobs, I just scoff and shut them down. If you're fresh out of school, no family, and willing to live in a hovel for some interesting life experience, sure. But if you're an adult, it's no way to live. And putting kids through it is frankly unethical.

Well it depends. I'll agree with you that if you work at a rando tech startup, the costs of living are going to be quite high, and make it probably not worth it. But , the whole equation changes if you are working for a big 5 tech company, or hot unicorn company. These companies will pay you double what the rando startups pay. Who really cares if you are paying 40k a year on rent, if your total compensation breaks 25…

[deleted]

Re: San Francisco median one bedroom apartment rent hits a new peak of $3,690

#155

Post by closeparen »

wankerrific wrote: post #142
ericd wrote: post #121

Earlier quoted context omitted.

I'd definitely keep in mind that those are after-tax figures, though. At the higher income levels, CA+Federal taxes hover around 50%. So, roughly double that rent difference to get the salary offset needed.

Really? At what income level in California are you paying half your income in taxes?

When comparing alternatives you want to look at marginal rate. Above $82k, your marginal tax rate is: 24% federal income + 6.3% social security + 1.45% medicare + 9.3% California + 1.5% San Francisco for a total of 43%. This is not the same thing as paying half your income in taxes, but it is paying (nearly) half the additional income in taxes.

Re: San Francisco median one bedroom apartment rent hits a new peak of $3,690

#157

Post by ferongr »

rcpt wrote: post #116
analog31 wrote: post #31

Earlier quoted context omitted.

What is that cost? There's an enclave in my city where I can't afford to live, and I live in a neighborhood where others can't afford to live. Now in my case, the people who are shut out of my neighborhood arguably have less access to things like good schools, so in principle I'm uncomfortable with exclusionary zoning and economic segregation. But I don't know if that's the case in SF. Are the elementary schools in S…

> What is that cost? By some estimates it's double digit percentage points off US GDP https://www.nytimes.com/2017/09/06/opinion/housing-regulatio...

Searching that opinion piece for "study", "studies" and related keywords returns no results.

Re: San Francisco median one bedroom apartment rent hits a new peak of $3,690

#158

Post by closeparen »

ferongr wrote: post #157
rcpt wrote: post #116

Earlier quoted context omitted.

> What is that cost? By some estimates it's double digit percentage points off US GDP https://www.nytimes.com/2017/09/06/opinion/housing-regulatio...

Searching that opinion piece for "study", "studies" and related keywords returns no results.

https://faculty.chicagobooth.edu/chang-tai.hsieh/research/gr...

Re: San Francisco median one bedroom apartment rent hits a new peak of $3,690

#159

Post by ferongr »

adrianN wrote: post #54
sonnyblarney wrote: post #43

It's an existential issue. "Peter Thiel: The vast majority of the capital I give companies is just going to landlords" [1] [1] https://finance.yahoo.com/news/peter-thiel-vast-majority-cap...

He could try giving capital to companies in other locations. Rent in Berlin in less than a third of what you pay in SF.

Maybe (most likely to be honest) his ROI is worse in those cases.

Re: San Francisco median one bedroom apartment rent hits a new peak of $3,690

#160

Post by lotsofpulp »

closeparen wrote: post #155
wankerrific wrote: post #142

Earlier quoted context omitted.

Really? At what income level in California are you paying half your income in taxes?

When comparing alternatives you want to look at marginal rate. Above $82k, your marginal tax rate is: 24% federal income + 6.3% social security + 1.45% medicare + 9.3% California + 1.5% San Francisco for a total of 43%. This is not the same thing as paying half your income in taxes, but it is paying (nearly) half the additional income in taxes.

6.2% social security drops off after $132,900.

https://www.irs.gov/taxtopics/tc751

50% is a high estimate, good for budgeting though. With property taxes, vehicle registration fees (aka taxes), school fundraising (aka taxes), tolls (also tax), health insurance (a tax if it’s mandatory), and other fees for dealing with government, you get pretty close to 50%.

The only way to beat this is to make a significant portion of your income via capital gains, that’s one big advantage of the real estate business, various loopholes exist to let you minimize taxes (like 1031 exchanges) on increases in your net worth.

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