46 ms·
The Bay Area has around 3 million households. The top 1% of households in this area make around 720k or so. So that by itself gets you to 30k households. Accou
by scarmig 9y ago
The Bay Area has around 3 million households. The top 1% of households in this area make around 720k or so. So that by itself gets you to 30k households.
Account for the fact that 2 million is much more attainable than 3, and based on income alone you get pretty close to 100k households.
Many people also store their assets in real estate. Add those in (people selling their old house to buy a new one), and you are definitely above 100k households able to afford a 2 million dollar place.
- scarmig 9y agoAlso, as far as what a typical household making near that much might look like: my personal situation is that I'm a senior software engineer, whose total comp is nothing really exceptional. I'm married to a nurse. Our household income is around 500k. You can easily imagine ways to tweak our careers to put us into the 1% range. Even as is, we have an attainable 5 year plan to buy a home at the lower end of the listed range without being stupid.