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To buy the home my grandparents bought in 1968 for $30k ($265k in 2023) in San Jose, CA would require an income of about $12k then ($90k in 2023). Today, with a
by cvccvroomvroom 3y ago
To buy the home my grandparents bought in 1968 for $30k ($265k in 2023) in San Jose, CA would require an income of about $12k then ($90k in 2023). Today, with a value of $2.2m, that would require an income of about $800k.
Primarily, the only buyers in this hyperlocal market are rich people who move money from overseas because locals cannot afford it. Occasionally, there are the lucky few who survived and exited a startup or inherited wealth dot the landscape.