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I’ve seen comments about the “end of Silicon Valley” as early as 1993. Though back then you could get a house in Cupertino for 300k? It’s now $3M. This has s
by fossuser 6y ago
I’ve seen comments about the “end of Silicon Valley” as early as 1993.
Though back then you could get a house in Cupertino for 300k?
It’s now $3M.
This has some effect and makes living here to start a company higher risk.
- jedberg 6y agoA $300K house in 1993 is only $2M now. :)
- raldi 6y agoThe 1993 post you refer to: https://groups.google.com/forum/#!original/alt.folklore.computers/bvE0Ka5nCnM/NAIOQnrEyCAJ https://groups.google.com/forum/#!original/alt.folklore.comp...
- fossuser 6y agoYep, that was the one. It’s nearly the exact same conversation you see today. It’s a little wild to me that they thought housing prices were high then. It makes me wonder if in 2047 I’ll look back at this thread and think “only $2M - what were they complaining about? Can’t find a place today for less than $18M”
- easde 6y agoBack then a software engineer at a well-known big company would make around $30-50k (not inflation adjusted). Combined with 1993's interest rates (~7%) $300k was quite steep. Today the same engineer at a FAANG would make about $300k. Houses are about $2M and interest rates are about 2%, so relatively speaking things are cheaper. However, unlike in 1993, today's salaries are unlikely to grow by 10x over the next 30 years while the mortgage is paid off!