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As a 6 figure salary worker in SV, you get fleeced. You have worse housing options, worse schooling options, worse public transportations and highest tax rates
by conanbatt 8y ago
As a 6 figure salary worker in SV, you get fleeced. You have worse housing options, worse schooling options, worse public transportations and highest tax rates in the country.
SV is not expensive because "public schools are good". Its expensive because both the government and the landlords, that have a huge intersectino of people, capture the largest chunk of the surplus tech workers get.
- throwaway-1283 8y agoI'm specifically referring to housing prices. Parents raising kids put an even higher premium on SFHs because they want to live in places that are within a preferred school district. It's just one of many factors.
- anxman 8y agoLandlords don't get it either. I'm a landlord and most of that money goes to the banks and property taxes. I might see profits in 10-20 years if I'm lucky but even that's a gamble.
- conanbatt 8y agoI would've been ready to disagree with you 2 months ago, until I looked at the SF budget and saw they spend 2600U$S per household every month. Landlords cant be getting too much of that: but they do get a piece, particularly old time landlords.
- refurb 8y agoThe landlords making money hand over fist are the ones that bought long ago AND had the tenants turn over (reset rent control). Right now it’s cheaper to rent a place than buy in SF (rent to home price ratio is almost 1:30 where 1:15 means it’s equal). Most landlords are betting on property appreciation, but even that isn’t guaranteed if you have tenants as they lower the value of the home.