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"This is why no one can afford a house in the Bay Area unless you had money in stocks or real estate already." The fact that people could afford houses in othe
by giantg2 3y ago
"This is why no one can afford a house in the Bay Area unless you had money in stocks or real estate already."
The fact that people could afford houses in other areas seems to support that group-think and constrained supply is really at the heart of that issue. Also, affordability was an issue prior to the crisis (well, true affordability because the loans were too easy to get for many).
- dboreham 3y agoI moved to the Bay Area in 1996 and there was no way I could afford to buy a house there then.
- andrewljohnson 3y agoDid you have any savings? At what point in your career were you? Anywhere in the Bay Area, or in the neighborhoods you were willing to live in? What weee your constraints?
- xhkkffbf 3y agoYup. Affordability in area is always hard because the companies pay the minimum to get someone to walk through the door. When you're new, you're competing for work with people who already have housing and are looking for a new job. So they can underbid you.