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Well, you have to either be one of the lucky 20% who get housing for free from affordability lotteries, OR you have to be a member of the feudal lords who own p
by pascalxus 9y ago
Well, you have to either be one of the lucky 20% who get housing for free from affordability lotteries, OR you have to be a member of the feudal lords who own property in SF. The rest are probably holding on to their rent controlled properties like they're a gold mine.
But, if your new to city and want to come there, anything less than 120K (300K+ if you have a family of 4) isn't going to make it.
- djrogers 9y ago> if your new to city and want to come there, anything less than 120K (300K+ if you have a family of 4) isn't going to make it. Not everyone earning $120k+ are "people with access to intergenerational wealth and/or who don't work and just live off investments". In fact I'd venture to say that most aren't.
- j-c-hewitt 9y agoHeck I even lived in the Bay Area on less than that and did OK as a single person. But I have been a lot more successful financially in a region with a much lower cost of living. Your mileage may vary, but I bet on an alternative strategy that has been working for me. I believe that many people are discovering that the strategy of working in a high COLA region expecting an extreme payoff is not as reliable a strategy as it was for our parents' generation -- in part because our parents' generation was able to afford to buy property at reasonable prices and then benefit from the appreciation.