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All of the cultural items can be had by renting here, too, as my family does, and deploying the rest of the capital in ways that aren't financially illiterate.
by sidlls 6y ago
All of the cultural items can be had by renting here, too, as my family does, and deploying the rest of the capital in ways that aren't financially illiterate. The decision to buy in the bay area, for the vast majority of people, is damaging to their financial health.
- nostrademons 6y agoThat was basically my reasoning when I first came here as well, and so I didn't buy. (Elsewhere in this subthread, I'm arguing exactly that point.) The part that I didn't factor in was rents basically tripling while I was here, which apparently is not an uncommon occurrence in the Bay Area. In 2010 I was a genius for paying $1400/month in rent rather than $4000/month to buy a condo. In 2017, when rents were $4500/month but that condo payment would've still been $4000 (for a bigger place!) and the condo's value had gone up from $400K to $1M, I was less of a genius. YMMV. I'm expecting very significant inflation and I've watched firsthand as a lot of my friends got priced out of the Bay Area, so I bought as a way to ensure that my kid will be able to stay in the same school district and remain near family. Time will tell whether that's a fiscally brilliant or fiscally idiotic decision.
- flukus 6y ago> All of the cultural items can be had by renting here, too I have a few older retired friends that thought this, then the area started gentrifying, prices went up and they've had to move out of the area they've lived in all there lives.