5 ms·

> 1 full bath, 1,900 sqft Single-Family Home > a value of $904,085 I understand the nature of supply and demand and the appeal of living in an area full of

by thearn4 12y ago

> 1 full bath, 1,900 sqft Single-Family Home > a value of $904,085 I understand the nature of supply and demand and the appeal of living in an area full of like minded people, but as someone in a flyover state, this absolutely blows my mind.

freehunter 12y ago
Shoot, in the Midwest I have an apartment with about that much square footage, two full baths, and I think I'm getting ripped off at $1400/mo. Did I mention I moved in less than a year ago, and was the first resident in the building, so it's brand new? I understand San Francisco is the home of technology, but get your stuff sorted out, seriously. Is it worth being in a city that absolutely hates you? A city that would do anything to make your lives miserable? I wonder what would happen if Apple and Google packed up and moved to, I dunno, Milwaukee?
- thearn4 12y ago
  It's a good question. It's clearly worth it for some. For me, I own a 1800 sq. ft. home on 4 acres outside of Cleveland valued at $170k, in an area with excellent schools. The career prospects in NY and SF are far better, but I'd have a really hard time giving this up.
- knorby 12y ago
  I lived in Chicago before moving to SF a few years ago, and I can't imagine ever going back. There is an argument about jobs, people, and companies that's complex, but people pay so much for so little space because it really is that valuable. The weather is near perfect year round, the food/beer/wine is astounding, the landscape is glorious, and so on. Midwest winters, particularly as climate change is making them worse, would be enough to keep me here, but my quality of life has gone up in about every other way possible. People pay the premium because it really is that good. If a big tech company decided to move to Milwaukee, every other tech company would just soak up all the people lost.
  - freehunter 12y ago
    Is the weather, food/beer/wine, and landscape really that much better than Santa Cruz? Is it that much better than Raleigh? Or Austin? Or any other city that isn't San Francisco? Besides the benefits you might get from SF, let's be realistic: the city doesn't want you. It doesn't want any of you. The only benefit you're getting is the people who moved there just like you, and the city doesn't want them, either. If they wanted you, they would let you build houses, or let you run buses without getting rocks thrown at you. They would welcome you and do what it takes to make your stay pleasant. I don't live in SF, but I frequent HN so I hear all the stories. If half of what I hear here is true, you're a bunch of people living in a city where you have massively overstayed your welcome. And it seems like no one has realized it yet. Please, tell me I'm wrong. Take a look at your rent, at your city policies, your Senator, and at the people around you (not the tech workers, but the other residents of SF), take a look at them and tell me I'm wrong. I don't want to be right, but that's the only impression I can get from stories like this.
    - mwetzler 12y ago
      A lot of what you are saying rings true, but you may be underestimating just how small San Francisco is and how large the tech entrepreneur population is here. The number of new companies being started here is what makes San Francisco feel special. There is no other city on earth where you can overhear someone's new business idea at the cafe, the bakery, a restaurant, and the subway. And the crazy thing is that no one rolls their eyes at these ideas like they would in Chicago. It's pretty bizarre, sometimes unsettling, sometimes wonderful. It wouldn't happen at this frequency in Santa Cruz or Raleigh, or even New York or Austin or Boulder.
      - freehunter 12y ago
        I think it would. Is there something special about SF in particular, or is it just the people? If you moved the people to Chicago or even Detroit, I have a feeling it would be exactly the same. If it's an issue of city size relative to the number of tech workers, look at smaller cities like Knoxville, Grand Rapids, or Madison. These conversations don't happen there because the people holding them don't live there. San Fran is almost a million people. The last two cities I've lived in clocked in around 200k. I think you're underestimating just how big San Francisco is. I would gladly live in Silicon Valley if it weren't in San Fransisco. I don't think I would have the stomach to live in a city where the local people and politicians were that hostile to me. And I still haven't heard anyone say that the local population doesn't totally hate everyone who works in tech. All I'm hearing is "yeah they hate us but look at how good it is for me". That's pretty awful.
- spiralpolitik 12y ago
  The major issue with SF is the lack of new housing being built at the first rung of the property ladder. Plenty of 1 million dollar plus units being built, but nothing for first time buyers. Worse the developers actively resist building affordable housing even when the city bends over backwards to accommodate them. Even worse is the amount of new office space being built. There simply isn't enough housing in the Bay Area to cope with the number of new jobs the cities want to add. At some point the bubble will burst. Companies will be forced to relocate away. But sadly there is enough crazy in the market to keep it going on for a while yet.
  - lucaspiller 12y ago
    > Plenty of 1 million dollar plus units being built, but nothing for first time buyers. What is affordable? I'm not in SF (or the U.S.), but as I understand salaries of $150k+ in tech are common. Mortgage repayments on a $1mm property work out to be ~$5,000 a month for a 35 year mortgage, which you can easily pay if you are earning that much.
    - ryan-c 12y ago
      Normally mortgage payments aren't allowed to be more than 38% of gross income for someone with no debt which works out to $4750 for $1M/yr, and you generally have to have a 20% down payment, and even then, it's still going to have to be a jumbo mortgage.
      - ryan-c 12y ago
        "$1M/yr" should have been "$150k/yr" there.
    - spiralpolitik 12y ago
      On what planet is 2/3 of your post tax income considered to be easy ? (Also most of the units being built require HOA membership so tack on another 1k to your monthly outgoing)
      - deleted 12y ago
curun1r 12y ago
That's in a somewhat out-of-the-way part of SF. More central/desirable neighborhoods are considerably more. Examples: http://www.trulia.com/property/3191871255-1097-Howard-St-302-San-Francisco-CA-94103 http://www.trulia.com/property/3191871255-1097-Howard-St-302... http://www.trulia.com/property/3006745092-2801-Jackson-St-301-San-Francisco-CA-94115 http://www.trulia.com/property/3006745092-2801-Jackson-St-30... http://www.trulia.com/property/3191823695-425-1st-St-5005-San-Francisco-CA-94105 http://www.trulia.com/property/3191823695-425-1st-St-5005-Sa... http://www.trulia.com/property/3190475980-2145-Powell-St-2151-San-Francisco-CA-94133 http://www.trulia.com/property/3190475980-2145-Powell-St-215...

by thearn4 12y ago

freehunter 12y ago

Shoot, in the Midwest I have an apartment with about that much square footage, two full baths, and I think I'm getting ripped off at $1400/mo. Did I mention I moved in less than a year ago, and was the first resident in the building, so it's brand new? I understand San Francisco is the home of technology, but get your stuff sorted out, seriously. Is it worth being in a city that absolutely hates you? A city that would do anything to make your lives miserable? I wonder what would happen if Apple and Google packed up and moved to, I dunno, Milwaukee?

thearn4 12y ago
It's a good question. It's clearly worth it for some. For me, I own a 1800 sq. ft. home on 4 acres outside of Cleveland valued at $170k, in an area with excellent schools. The career prospects in NY and SF are far better, but I'd have a really hard time giving this up.
knorby 12y ago
I lived in Chicago before moving to SF a few years ago, and I can't imagine ever going back. There is an argument about jobs, people, and companies that's complex, but people pay so much for so little space because it really is that valuable. The weather is near perfect year round, the food/beer/wine is astounding, the landscape is glorious, and so on. Midwest winters, particularly as climate change is making them worse, would be enough to keep me here, but my quality of life has gone up in about every other way possible. People pay the premium because it really is that good. If a big tech company decided to move to Milwaukee, every other tech company would just soak up all the people lost.
- freehunter 12y ago
  Is the weather, food/beer/wine, and landscape really that much better than Santa Cruz? Is it that much better than Raleigh? Or Austin? Or any other city that isn't San Francisco? Besides the benefits you might get from SF, let's be realistic: the city doesn't want you. It doesn't want any of you. The only benefit you're getting is the people who moved there just like you, and the city doesn't want them, either. If they wanted you, they would let you build houses, or let you run buses without getting rocks thrown at you. They would welcome you and do what it takes to make your stay pleasant. I don't live in SF, but I frequent HN so I hear all the stories. If half of what I hear here is true, you're a bunch of people living in a city where you have massively overstayed your welcome. And it seems like no one has realized it yet. Please, tell me I'm wrong. Take a look at your rent, at your city policies, your Senator, and at the people around you (not the tech workers, but the other residents of SF), take a look at them and tell me I'm wrong. I don't want to be right, but that's the only impression I can get from stories like this.
  - mwetzler 12y ago
    A lot of what you are saying rings true, but you may be underestimating just how small San Francisco is and how large the tech entrepreneur population is here. The number of new companies being started here is what makes San Francisco feel special. There is no other city on earth where you can overhear someone's new business idea at the cafe, the bakery, a restaurant, and the subway. And the crazy thing is that no one rolls their eyes at these ideas like they would in Chicago. It's pretty bizarre, sometimes unsettling, sometimes wonderful. It wouldn't happen at this frequency in Santa Cruz or Raleigh, or even New York or Austin or Boulder.
    - freehunter 12y ago
      I think it would. Is there something special about SF in particular, or is it just the people? If you moved the people to Chicago or even Detroit, I have a feeling it would be exactly the same. If it's an issue of city size relative to the number of tech workers, look at smaller cities like Knoxville, Grand Rapids, or Madison. These conversations don't happen there because the people holding them don't live there. San Fran is almost a million people. The last two cities I've lived in clocked in around 200k. I think you're underestimating just how big San Francisco is. I would gladly live in Silicon Valley if it weren't in San Fransisco. I don't think I would have the stomach to live in a city where the local people and politicians were that hostile to me. And I still haven't heard anyone say that the local population doesn't totally hate everyone who works in tech. All I'm hearing is "yeah they hate us but look at how good it is for me". That's pretty awful.
spiralpolitik 12y ago
The major issue with SF is the lack of new housing being built at the first rung of the property ladder. Plenty of 1 million dollar plus units being built, but nothing for first time buyers. Worse the developers actively resist building affordable housing even when the city bends over backwards to accommodate them. Even worse is the amount of new office space being built. There simply isn't enough housing in the Bay Area to cope with the number of new jobs the cities want to add. At some point the bubble will burst. Companies will be forced to relocate away. But sadly there is enough crazy in the market to keep it going on for a while yet.
- lucaspiller 12y ago
  > Plenty of 1 million dollar plus units being built, but nothing for first time buyers. What is affordable? I'm not in SF (or the U.S.), but as I understand salaries of $150k+ in tech are common. Mortgage repayments on a $1mm property work out to be ~$5,000 a month for a 35 year mortgage, which you can easily pay if you are earning that much.
  - ryan-c 12y ago
    Normally mortgage payments aren't allowed to be more than 38% of gross income for someone with no debt which works out to $4750 for $1M/yr, and you generally have to have a 20% down payment, and even then, it's still going to have to be a jumbo mortgage.
    - ryan-c 12y ago
      "$1M/yr" should have been "$150k/yr" there.
  - spiralpolitik 12y ago
    On what planet is 2/3 of your post tax income considered to be easy ? (Also most of the units being built require HOA membership so tack on another 1k to your monthly outgoing)
    - deleted 12y ago

curun1r 12y ago

That's in a somewhat out-of-the-way part of SF. More central/desirable neighborhoods are considerably more. Examples: http://www.trulia.com/property/3191871255-1097-Howard-St-302-San-Francisco-CA-94103 http://www.trulia.com/property/3191871255-1097-Howard-St-302... http://www.trulia.com/property/3006745092-2801-Jackson-St-301-San-Francisco-CA-94115 http://www.trulia.com/property/3006745092-2801-Jackson-St-30... http://www.trulia.com/property/3191823695-425-1st-St-5005-San-Francisco-CA-94105 http://www.trulia.com/property/3191823695-425-1st-St-5005-Sa... http://www.trulia.com/property/3190475980-2145-Powell-St-2151-San-Francisco-CA-94133 http://www.trulia.com/property/3190475980-2145-Powell-St-215...