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The 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, fa
by bananabreakfast 7y ago
The 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 7y 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...