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Sydney is a six figure slum but with fewer six figure jobs!
by quickthrower2 5y ago
Sydney is a six figure slum but with fewer six figure jobs!
- danielmarkbruce 5y agoTrue. And it's not the only one. That's one of the things you have to figure wrt leaving/not coming to bay area -> where do you go instead? Once you start doing concrete comparisons.... the bay looks pretty good.
- siquick 5y ago200kUSD is 270kAUD and I doubt there are many dev jobs paying that in Sydney.
- quickthrower2 5y agoThat’s my intended point - high property prices but not the dev salaries to match. The decent 6-figures coming from the business roles but not dev. 270k developer? You can do it if you can write low latency C++ trading code, or get some super obscure but valuable tech contract gig.
- api 5y agoI still don't fully understand how some of today's real estate prices are possible. There are not that many buyers of the income or net worth required to afford these prices. How can a large scale market exist with so few customers who can reasonably afford the product?
- bitxbitxbitcoin 5y agoSimple answer: The customers that can afford the product(s) are buying more than one.
- l33tbro 5y ago> How can a large scale market exist with so few customers who can reasonably afford the product? Cheap debt. Nobody has the net worth to afford all these places. So the value of the properties are relative to how much people can borrow. For the last few years, that has meant a borroing a lot since interest rates around 1.5%.