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The cost of living is just so crazy high here though, $2.5m for a starter home in SV. More in some parts. You’d need a household income of 500k/yr to even quali
by jahewson 5y ago
The cost of living is just so crazy high here though, $2.5m for a starter home in SV. More in some parts. You’d need a household income of 500k/yr to even qualify for that mortgage.
- quantified 5y agoDepending on your down payment. Some FAANGers just drop 4 mil on a couple of houses and rent one out. And 1.8M is an easy starter even this month.
- hansel_der 5y agowell see, someone who is in a position to "just drop 4mil on a couple of houses" is top 1%, i.e. not representative for whole lot of ppl.
- cjrp 5y agoWhat's considered a starter home? In England (well, the south-east of England), lots of people get started in a 1 or 2-bed flat (~60m²), maybe move up to a small terraced or semi-detached when they have kids.
- llampx 5y agoA starter home in the US would be considered a dream home in many (most?) parts of the world. Garage, front yard, back yard, 3 bedrooms etc, all in a built-up area of around 1500-2000 sq ft (140-185 sq m)
- Dracophoenix 5y agoAnd all of it on at least a quater-acre of land.
- talideon 5y agoThey just don't seem to do that kind of housing in much of the US due do zoning. It's all "single-family homes", with no opportunity for more mixed-use construction that would allow for density and cheaper accommodation, such as relatively low-rise buildings (i.e., less than six floors) with one/two bed flats, or even things like corner shops, community post offices, creches, and the like. All that's illegal, which is insanity.
- TomVDB 5y agoI’ve done the roommating thing, and paid my dues living in small apartments. But at some point I wanted the comfort of a house with a garage, a hobby room, and a yard where the kids can run around. So, yeah, different expectations.
- emmo 5y agoA quick browse of real estate websites seems to show lots of nice places in SV for well under that amount.
- Aeolun 5y agoFor a certain definition of nice. If you are looking at family homes you’re quickly looking at 2M+ (with a few buildings priced so low that I have to wonder what is wrong with them).
- deleted 5y ago[deleted]
- jjav 5y ago> $2.5m for a starter home in SV While cost of housing is indeed crazy high, 2.5M for a starter home is quite an exageration. Here's ~300 listings for under $1M: https://www.zillow.com/homes/for_sale/house,condo,apartment_duplex,townhouse_type/?searchQueryState=%7B%22pagination%22%3A%7B%7D%2C%22usersSearchTerm%22%3A%22San%20Jose%2C%20CA%22%2C%22mapBounds%22%3A%7B%22west%22%3A-122.47789025585936%2C%22east%22%3A-121.73768639843749%2C%22south%22%3A37.24226739426444%2C%22north%22%3A37.66851608394383%7D%2C%22isMapVisible%22%3Atrue%2C%22filterState%22%3A%7B%22sort%22%3A%7B%22value%22%3A%22globalrelevanceex%22%7D%2C%22price%22%3A%7B%22min%22%3A1%2C%22max%22%3A1000000%7D%2C%22mp%22%3A%7B%22max%22%3A3507%7D%2C%22land%22%3A%7B%22value%22%3Afalse%7D%2C%22manu%22%3A%7B%22value%22%3Afalse%7D%7D%2C%22isListVisible%22%3Atrue%2C%22mapZoom%22%3A11%7D https://www.zillow.com/homes/for_sale/house,condo,apartment_...
- emmo 5y agoPretty much all of those are nicer than any house I have ever lived in, lol.