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The number of liquid millionaires in the Bay Area will be astounding come next year...
by dawhizkid 8y ago
The number of liquid millionaires in the Bay Area will be astounding come next year...
- arcticbull 8y agoSomething tells me property values are going up again. It's been a little weak lately but not after this.
- quickthrower2 8y agoWhat's the MO for a tech millionaire, do you retire in the bay area or f-off to somewhere where you can retire in luxury? Or keep grinding in SF?
- dawhizkid 8y agoA rank and file employee at one of these cos unless very early is not necessarily getting so much after taxes that they can retire in SF following an IPO...it's house money, not necessarily retirement money.
- quickthrower2 8y agoI guess its not mutually exclusive. Buy a house now, then sell it a few years later to retire somewhere else.
- arcticbull 8y agoThe median price per square-foot is around $1100 which means that if you make $2 million pretax in an IPO you’re left with approximately $1.2 million after-tax which is the average price of a nice 2br/1.5ba condo, a little short of a single family which is $1.5 million. I think the MO is based more on age and where you’re at in life, people tend to leave San Francisco in their mid to late 30s and either set up shop in the South Bay, or move home. IMO That’s why 1-2 bedrooms are so popular here. You buy, then keep it as a rental or sell when you leave.