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Right and in San Francisco there is a ton of people making around the same amount as your friends likely which means there is a lot of competition in their demo
by sanswork 10y ago
Right and in San Francisco there is a ton of people making around the same amount as your friends likely which means there is a lot of competition in their demographic.
Now look at the houses priced $10-20m. If you can afford one of those are you going to start buying up the $1m stock because you can't find the one you want or are you going to build the one you want elsewhere?
- vecinu 10y ago"San Francisco doesn't allow new construction." as the other poster said, so you're going to buy up the $1m stock of houses. I also think this "competition" is artificial as a lot of people are signing 30 year mortgages but I highly doubt their salaries will continue growing or even staying at the level they're at now. Most folks aren't spending within their means.