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Yeah my argument was that all the people who are buying those homes are significantly wealthier than the Bay Area median household.
by alexhutcheson 7y ago
Yeah my argument was that all the people who are buying those homes are significantly wealthier than the Bay Area median household.
- bananabreakfast 6y agoThe median Bay Area household cannot afford to buy a house, yes, but that does not mean that those buying houses are significantly wealthier. The Bay is far, far richer than you can imagine. Buying a house for $1M is firmly middle class status. True lower class people simply cannot afford to live in the Bay at all. To be in the top 1% in the Bay Area you have to make close $1M per year.
- nickv 6y agoTop 1% in San Jose is $964,238 (with the average person in the top 1% making $2,732,379), so right on target. https://www.cnbc.com/2017/06/14/how-much-you-have-to-earn-to-be-in-the-top-1-percent-in-the-biggest-us-cities.html https://www.cnbc.com/2017/06/14/how-much-you-have-to-earn-to...