181–190 of 458 posts
Doesn't seem like a great solution. If the tech guys leave SF, it would be like Detroit. SF and tech are now linked in the way Detroit and cars were. If you try pull the tech out, you'll be left with a husk fighting over crumbs. I don't even live in SF and this is clear to me. Or maybe it's clear to me because I don't live in SF?
I've got a possibly great job offer on the table from SF/SV, but may turn it down. I'd love the city I'm sure, but after glancing around I've come to the conclusion that home ownership is unthinkable to anyone who hasn't had a cash-out event. The real estate market is certifiably, utterly bat-dookie insane. NYC is often considered more expensive, and Manhattan is certainly... well... Manhattan. But taken collectively…
I've got a possibly great job offer on the table from SF/SV, but may turn it down. I'd love the city I'm sure, but after glancing around I've come to the conclusion that home ownership is unthinkable to anyone who hasn't had a cash-out event. The real estate market is certifiably, utterly bat-dookie insane. NYC is often considered more expensive, and Manhattan is certainly... well... Manhattan. But taken collectively…
>>I'd love the city I'm sure, but after glancing around I've come to the conclusion that home ownership is unthinkable to anyone who hasn't had a cash-out event. I've never understood this crazy, if not outright insane obsession with home ownership. Why does everyone want to tie significant amounts of their lifetime earnings into physical property that historically has had very low appreciation in value? It's like pe…
You forgot "...in other parts of the country." The "great" schools in the Bay Area are pretty much exclusively in places with $1m+ house prices, and with few places to rent for a reasonable amount.
Also consider that the bubble primarily affected the distant 'burbs. House prices in San Francisco, and close in to the city, didn't really drop appreciably at all, and have now regained any losses. So either the "pop" was delayed (and another one is still coming, as you suggest), or there wasn't a "bubble" in SF at all. Not to say that I think it's sane to pay those prices, but I don't live the Bay Area any more for that exact reason.
There are those of us who really want to own a house just so that we can change it however we like. There's something smothering about living in a rental when you've previously been free to do what you want. I know, first world problems, but still, home ownership means that I can't be kicked out (or priced out) on the whim of a landlord.
And leaving the Bay Area is one way to achieve both. I've got better (for some measures of "better") public schools near me now than even exist in California any more, and yet I own my home (and paid only about $320k for it -- still not cheap, but much more reasonable). In my case (having bought and sold at good times in the Bay Area), I own the house outright, so living expenses are even lower than if I were renting, giving me the ability to pursue my own dream projects for more of the time.
I've got a possibly great job offer on the table from SF/SV, but may turn it down. I'd love the city I'm sure, but after glancing around I've come to the conclusion that home ownership is unthinkable to anyone who hasn't had a cash-out event. The real estate market is certifiably, utterly bat-dookie insane. NYC is often considered more expensive, and Manhattan is certainly... well... Manhattan. But taken collectively…
>>I'd love the city I'm sure, but after glancing around I've come to the conclusion that home ownership is unthinkable to anyone who hasn't had a cash-out event. I've never understood this crazy, if not outright insane obsession with home ownership. Why does everyone want to tie significant amounts of their lifetime earnings into physical property that historically has had very low appreciation in value? It's like pe…
If you make decent money, and most likely will for the remainder of your life (aka used car dealer), then it is probably a better option to not own because you can always pay for rent.
I wouldn't underestimate the effects a lack of sunlight will have on you. This coming from a part of the country that receives a little bit less sunlight that Seattle (Pittsburgh area). Seasonal depression can really make life suck. I'm also probably a little bit upset because it's been raining for something like 12 days straight.
The weather made me want to get the hell out, though. It's not that it rains that much, it's just that it's gray and bleak so often. During the winter, it's usually around 5C or maybe up to 10C (that's about 40-50F). The cold and drizzly weather is absolutely miserable if you like the outdoors, because you can't really do much. Too warm for snow and "winter" activities, but too cold to do much without a lot of expensive gear that, at best keeps you "not cold" in a clammy, squishy, sodden sort of way.
Here's a bit of street view that feels very "Western Oregon" to me:
https://maps.google.com/maps?q=Eugene,+Oregon&hl=en&ll=43.91...
Nothing so extreme as to be exciting, just that solid, slate gray sky.
I've got a possibly great job offer on the table from SF/SV, but may turn it down. I'd love the city I'm sure, but after glancing around I've come to the conclusion that home ownership is unthinkable to anyone who hasn't had a cash-out event. The real estate market is certifiably, utterly bat-dookie insane. NYC is often considered more expensive, and Manhattan is certainly... well... Manhattan. But taken collectively…
I regret that I have but one upvote to give you for this. Here, have an Indignation: http://www.youtube.com/watch?v=EtCiP8B2xpc#t=7s In the long term, Silicon Valley and SF is eating its young. It's a city built on young entrepreneurs coming there and doing new stuff, but if nobody who hasn't already made it can afford to live there what happens then? The other problem is that these high costs soak up everyone's spar…
It was very hard to want to put your soul into building a company (which as a founder you generally always have to do, at least for a while) when everything is just so mellow in Austin. All of my friends were leaving their offices by 5pm to go drink $3 beers every single day, and likely go see a band play that evening. I of course did this too, because I wasn't going to be the only person working through the evening.
Then there is the cost of living. It's absurdly low compared to the bay area or NYC. I could have a great quality of life in Austin by doing 1 - 2 freelance gigs per month, easy (I know this because I did it for 3 years before starting a company). This translates to not feeling the small window of opportunity you'd have to build a company that becomes profitable (or you can raise money with) out in the bay area, because you can coast by on so little money. This also presented a talent/hiring problem when I did try to make a startup happen in Austin. It was VERY hard to convince freelancers who were making 100k a year and putting a majority of that in the bank to come make less for my crazy dream.
In the Bay Area I do not have these issues. EVERYONE works insanely hard. The cost of living is insane, so I can't just sit around and take my sweet time. Becoming profitable as soon as possible is all I think about.
I'm not saying the Bay Area version of this isn't its own extreme, because it is definitely out of control, but there has to be a balance somewhere between the two.
Earlier quoted context omitted.
> real estate hyperinflation in general is a social ill that deserves to be tackled directly as such. How do you stop house prices from going up? You can't put a cap on property values without turning bidding into a lottery and screwing owners out of asset appreciation. You could make it easier to afford expensive houses by increasing the money supply, but our interest rates have been pegged at effectively zero for f…
Building more housing is the only option, and like you say you can't build anything. Maybe Peter Thiel needs to build his floating seasteading metropolis. If he put it in the bay you could connect SV to Newark and Fremont via a gentrified version of The Raft from Snow Crash.
This canard keeps getting repeated over and over in comments. Not sure if it is a projection of bias, or ignorance, or just denial of the facts.
The reality is that tens of thousands of units (22,000 since the article, a year ago, more now) are either in construction or in the pipeline. This is a construction boom.
http://www.sfgate.com/bayarea/article/S-F-apartment-construc...
I don't understand why tech workers in the Bay Area feel guilty about receiving 'high' salaries of $100 - $200k/year. This is not a lot of money... People on Wall street laugh at these amounts. So do specialized doctors, corporate lawyers, investment bankers, etc. Software engineering is unfortunately a very middle class occupation at this point. I'd love to see it get up into the ranks of the upper class (at least f…
It's because our society simply doesn't value the profession, and those engineers who feel guilty have internalized it. There is a strong undercurrent of social programming in western culture which says that working in computers and other technology fields is a nerdy / oddball profession and that those who choose to do it should be ostracized. People are actually surprisingly open about it, too. See for example the e…
Earlier quoted context omitted.
>>I'd love the city I'm sure, but after glancing around I've come to the conclusion that home ownership is unthinkable to anyone who hasn't had a cash-out event. I've never understood this crazy, if not outright insane obsession with home ownership. Why does everyone want to tie significant amounts of their lifetime earnings into physical property that historically has had very low appreciation in value? It's like pe…
>There are many stable renter neighborhoods with great schools. You forgot "...in other parts of the country." The "great" schools in the Bay Area are pretty much exclusively in places with $1m+ house prices, and with few places to rent for a reasonable amount. Also consider that the bubble primarily affected the distant 'burbs. House prices in San Francisco, and close in to the city, didn't really drop appreciably a…
That's what I was getting at. SF and SV were built on that, and it's not possible there anymore unless you've got big investors.