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The median home-owning household in the bay area doesnt make anywhere close to $400k/yr. Its expensive, but not that expensive.
by ac29 2y ago
The median home-owning household in the bay area doesnt make anywhere close to $400k/yr. Its expensive, but not that expensive.
- jeffbee 2y agoI don't think that's a good way to view it. How about the median home buying household? In my town the median sale price this year has been $1.6 million, considering interest rates and property taxes that amounts to $10k/mo housing costs, which is over half the take-home pay of a $400k gross income in California. This is not even to mention the fact that nobody will lend you a mortgage based on the equity portion of your TC, they will usually only count the salary portion and discount the equity portion.