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The caveat is that for that $200k+ deposit on a 1-bedroom in SF, you could go travel the world for 4 or 5 years. Or have 4.7 years of rent for the same place.
by Swizec 10y ago
The caveat is that for that $200k+ deposit on a 1-bedroom in SF, you could go travel the world for 4 or 5 years.
Or have 4.7 years of rent for the same place. After which you're likely to get tired of SF anyway and move somewhere else. Oh and in the 4.7 years you've been paying rent out of savings, you've saved up enough for the next 4.7 years of rent in NYC ... or many many years of rent anywhere else.
So yeah, I for one am def not ever buying unless I can cash it out in one go.
Then again, there are many things you could do for a million dollars in cash. Like retire for 10 years and do cool shit.
- adrianN 10y agoFor a million bucks your can retire for good.
- jcon321 10y agowonder how your family will enjoy the shakeup every time you feel like moving
- vonmoltke 10y agoIf the real estate market is so out of whack that you can rent a $1MM property for $3500/month of course I would rent. You aren't going to find that in a healthy market, though.
- rahimnathwani 10y ago3500/month is 42000/year. So that a gross rental yield of 4.2%, which is in line with home loan interest rates. So it doesn't seem out of whack at all.