3 ms·
> It doesn't even really seem like any of the high paying jobs are enough to keep up with this insane market. Compared to two years ago, it’s much more likely
by pbourke 5y ago
> It doesn't even really seem like any of the high paying jobs are enough to keep up with this insane market.
Compared to two years ago, it’s much more likely that you can get paid a coastal tech salary yet live in an affordable city. These still exist in America. Here’s one that I just pulled out of a hat: Ames, Iowa. College town. Median house price $265k, which you can have for less than $1k/month with a 30 year mortgage at todays ridiculously low rates. There are hundreds of places like this across the country. You don’t need to live in the Bay Area, Seattle, NYC or Austin anymore.
- ZeroGravitas 5y agoPart of the problem is/was, that you probably were going to buy a house anyway. So if you get the high paying job in 'crazy real estate' location, then the bank will loan you money to buy the crazily inflated house, because everyone is gambling on it rising further. Just the asset price rise could rival a full wage in certain areas/times. So the cities were actively pulling people into them because of their stupidly high property prices and so worsening the problem in a bubble like spiral. On the other hand, if this bubble does pop, it'll be the people who just recently bought in that will carry the brunt of it, so maybe now is a good time to not relocate and wait for the pop. Could have said that 10 years ago though.