@@goldenstatew2399 It's self-driving and robot delivery. Last I checked yes these do walk the food to their tech doors and its almost done being developed...
My family used to live comfortably here in CA back in the 80s and 90s. Right now, I am not rich or anything, but we aren't living paycheck to paycheck. That's primarily because the house my wife and our family lives in, was bought and paid for in the early 80s, by my wife's father. If we didn't own our home, we would be paying more every month, and likely couldn't afford a place for us and our kids. My parents lived here in the bay forever. But they had to move to Arizona, after they retired, because day to day life is pretty much impossible on a fixed income here. I doubt My family will stay in CA forever. It just will not last here. I see CA becoming a ghost town in 25-50 years, because people will want to come here for jobs, but then won't be able to keep living here when they are done working.
@@davbhard The same here where I live. After Dad died my brother got the house. He and his wife and kids live there now and he had enough to buy the other family house down the street. Two blocks over from the house our cousin and his wife live in. Three generations in our family house. That my father paid LESS than $20,000 to buy!!! In the 1950s. There is a downside to a booming economy.
I've lived in the Bay Area for over 50 years. I can honestly say that it is at it worst as of now. When I was a kid in San Francisco, there were no homeless. Houses in middle class neighborhoods were $50,000-$80,000 and in the Sunset district houses were around $100,000. You could make $50,000 for a family of 4 and still afford a house, a new car, and have enough left over for entertainment. Today, you need to make $300,000 for a family of 1 to get a somewhat descent apartment in a middle class neighborhood. This still won't qualify you to buy a house. And thats if you can find one for sale since San Francisco has nothing to buy. When a house does go up on the market, it usually sales within 2 weeks at an inflated and overbidded price that might be $100,000 more than the asking price. If you don't have to live here, then don't even bother. Its a homeless factory. The jobs pay good, but not good enough to buy anything. Its like that from San Francisco to San Jose. Everything is between $1,000,000 and 40,000,000. Not joking.
There were homeless 50 years ago. Back then we called them bums. They generally were alcoholics. Back then we called them winos. They weren't strung out on all the powerful levels of narcotics that's out there today. Pure poison now destroying their minds. They would stay in the SRO hotels in the Tenderloin.
Born and raised in San Francisco (DUH) But 50 years ago, I was just a little kid in grammar school, so how would I know anything about homeless. I lived in a house.
@@obijuankenobi420 The Tenderloin always had "homeless" people. NOBODY called them homeless. That wasn't a term back then. 50 years ago was 1972. It wasn't on "anyone's" radar. It was in the 80's where it started to escalate. You may have grown up in SF but you don't know what you're talking about.
It doesn't sound healthy when only tech workers can afford to live in the Bay Area. All of the other types of workers need to do long commutes, which increases traffic congestion.
Facts I just added to that congestion I use to live in Alameda and commute to Oakland for work. My wife and I bought a 2 bed 1 bath condo for 349k in East end of Vallejo now commute is 40-60 min when it use to be like 12 minutes on a backroad lol
Its not. But that's the pathetic shit. These tech workers and tech companies have no idea the issues they are causing. Even physicians are getting priced out. When you have essential workers, like literally workers that are the backbone of the country, having to do 1-3 hour commutes because their jobs can't be done remote, that's going to cause an issue in the Bay Area.
@@NissanSkylineVR30 sf healthcare worker here. Yep, live in a Walnut Creek apartment and commute is an hour if I’m lucky by car, 90 minutes by BART. Best thing the pandemic did was enable work from home for all the tech workers so essential workers don’t have as much traffic to deal with … but even that is returning normal now.
I know people driving 2 hours each way just to work in San Francisco. I hate the traffic here and the drivers are so rude. Just because you signal does not mean cut in front of the person.
@@mocheen4837 right lol it's like where are you going no ones moving any faster lol. I take 780 to 680 to 24 on the way to Oakland Airport traffic is ridiculous for no reason too lol
Went to school in the Bay Area but moved to the Sacramento area in July 2013. Best decision ever! My wife and I are in our mid-30s and we paid off our home last year. We purchased our 4 bed, 2 bath home in 2013 for $188k.
Paying off a house in eight years is not for everyone when mortgage rate is so low it's practically free money. I bought my current house five years ago and only put 20% down even though I could pay cash. I tripled my money on that other 80% by letting it stay with my investments.
Bought a house in Sacramento in 2001. Sold it and stupidly moved back to the Bay area due to lack of employment options. Now I'm making minimum wage and will probably never be able to buy another house in California.
Sacramento Area is probably one of the most affordable places in Northern California to live. Especially the Elk Grove area. The closer to the Bay, the more you pay. In the next 20 years, it going to be RICH only and no such thing as middle class. Total Gentrification.
"It's the price we pay of our success here in the bay area" No, it's the price you pay when you allow NIMBYs to block every single fucking attempt to build more housing units, which restricts supply, and makes prices go higher. I'm so tired of people acting like this is some magical unfixable problem. The problem is most of the limited land is zoned for single family homes with big lawns. Cities like Seoul, Korea have 3x the population of the bay area and LESS land to build on, yet somehow manage to keep rents stable. Maybe it has something to do with the fact that supply is allowed to keep up with demand. There is plenty of room in the bay area to house everyone if you stop forcing most of the land to be grass.
It isn't nimbys that are the issue. It's international wealth funds,East Coast and foriegn investors speculation in housing markets. They control the political system,the zoning,the markets. Speculation in housing markets should be outlawed for obvious reasons.
@@williamryan7403 You're barking up the wrong tree; the problem is not the "international wealth funds", it's the local Karen down the street who is willing to attend every local city council meeting and object to every single development or rezoning because of "neighborhood character", or "traffic" or "the wrong kind of people" moving in. Or more euphemistically, "not enough affordable housing proposed" or "we need smart growth".
Part of me believes that the housing market is nuts and the appreciation is unsustainable. But part of me knows this has been the story of the Bay area my entire life. I remain unconvinced that anything will change for the better.
Things are changing. The RHNA recently has been reformed to actually give it reinforcement powers to require cities/counties to construct sufficient housing.
Not my entire life. Nor my mother's. Nor my father's. Nor my grandmother. Nor my great grandparents. Things were far more affordable in the early 2000s.
@@OGFrylock The wealthy demographic in the bay area along with the business owners cranking out low wage jobs and then acting like victims because noone wants to take them.
I do like how he’s trying to bring attention to it breaking down how insane it is and how healthy of an income u can have and you still can’t afford housing.
What a great segment. The breakdown presented shocked me but after thinking about the fact that a 1 bedroom condo costs about $600,000 to purchase, and not taking into consideration a $600 monthly HOA fee, I definitely think people are being priced out. There is such a large amount of people who don’t work for tech companies who don’t have stock options available to then use for a down payment. Something definitely has to change.
Everybody is trying to live in the same place. When I moved to the Bay, I had roommates. That allowed me to split costs and save up money. There's nothing wrong with buying a house in East Oakland/Hayward. Anywhere on a BART line. Even Stockton. You can still get to your job. People get frightened by these kinds of reports, but there is always a way if you're flexible.
My brother moved to Utah and he pays $1,200 mortgage for a 1 acre 8 bedroom 4 bathroom a pool and always has money & time during the week to go fishing off-roading. Meanwhile I have 2 jobs and can’t afford to go out on the weekend.
I'm a Senior Engineering Manager at a FAANG. My boss, a director, just bought her first house. And she could only afford it because her spouses parents helped out with the down payment, and she got a huge stock payout. A director!!! Just barely affording her first house. I can't even afford a house at my level (I get no help from my parents, you are lucky if you do), and I'm only one level lower. I'll have to wait until my stocks fully vest in another 2 years, and I'll have to pray there isn't another huge spike in costs like there was this year to be able to afford a house, otherwise I'll have to get a 2 bedroom condo instead. What the hell is going on when even high level people in tech can't afford it anymore.
My family moved to the Bay Area from Portugal 40 years ago. There are only a few of us left in the area now. This is my family's home in America but it is unattainable for us now. Greed has pushed us out.
@@sfrealestatedealmaker6001 My family chose this location because it suited us and became a home. Spouting Hallmark card messages doesn't solve societal problems.
New England is so much better, you have a yard and it's definitely more affordable. (Generally, compared to other places, depending on where you are) Coming from someone who lives here..
I quit my job a few years ago. I lived in SCruz. A few weeks later my landlord said she was gonna double my rent. I moved to Texas. Now I have a home paid cash. No debt Tons of money. Life is good
Thankfully this is illegal as of Jan 2020. The CA tenant protection act, AB 1482, means your rent basically can’t go up by more than 10% per year now. Happy that you’ve found a nice home in Texas though
Tech companies must figure out how to pay for their kids' teachers and daycare workers, university professors, house cleaners, BART operators, supermarket clerks, mall employees, gas station attendants, healthcare staff, gym attendants, and caregivers, etc., etc., etc., when they're old and disabled.
The Bay Area is WAY overpriced. Especially considering *all* of the problems here. High crime. Congestion. _Horrible_ traffic. Everything is a hassle. Earthquake danger.
Yeah the crime is horrible. Don't listen to anyone who tells you any different. And if people know this about the bay area. Than why do they still move here?
Scott Budman is absolutely correct. I worked in the Bay Area a few years ago and everyone I met who recently purchased a home there worked in tech and bought their home through selling stock. The “Google effect” they called it. Many have left the Bay Area over the past year but a large percentage of those will also soon return driving prices even higher. Guaranteed.
I have some doubts about this. I used to live there and didn't like it. Last straw was recent fires. For me, it was a threat to my lungs, for some other friends, well, they were evacuated from their home ten times a season. Sold it afterwards. And it is a quite observable lack of qualified software engineers. Lack of cultural life, lack of females for single male especially, considering gender balance in tech. Entrepreneurs may want to rush there seeking for funding, but engineers can easily stay in a better place for living.
@@gweher43 that sounds sad. Though other jobs may located in better locations. SF / Bay Area leave you with feeling with the extremely skewed gender balance.
Dad died when I was young. Raised in the projects in West Oakland when it was clean and safe and very segregated. Red lining and drugs destroyed the area. Now the homes are selling for 7 to 900,000. Purchased a home in one of the nearby suburbs in 2011 for 411,000 dollars. I was bitching and complaining about that price. I could easily sale my home right now for 1million plus. These prices are insane.
please leave your politics there. or go to LA or Portland. I can understand wanting to leave, as it's hard to find retail businesses that you can patronize and want to continue to do business there.
I honestly believe that most people here are unhappy and can barely make ends meet. The problem is that every time I go out I see people driving fancy cars and eating out and expensive restaurants. I assume that everybody is wealthier than me and is a multi millionaire.
I am a 5th generation Bay Area guy. I was making good money, but only $160K a year in a Union. I moved to Montana in 2016 so my wife doesn’t have to work and we can raise our family in a more traditional way. Will always miss the weather.
I fantasize about moving to Montana. Mt husband has. Tech job that he is already approved to do 100% remote, and take his $136k year salary with him. It’s tempting, especially when working 60+ hours a week for my $115k year salary. Good money but I’d like to slow down the treadmill!
@@jenniferbond7073 yeah a lot of people have moved out here the last 2 years. Realestate has doubled. But it’s still cheap if you have a few hundred thousand in savings/equity. But the lack of sunshine and warmth takes some getting used too. The slow pace and the safety and freedom are very appealing!
@@HotBoii91 I miss the gentle weather. The smell of eucalyptus and flowers year round and the world class variety. If you don’t like the fog or the rain you can drive 1hr and be on another planet with sage and rosemary and brilliant sun. Or snow and gambling! Where I live now, it’s cold 🥶 and quiet and if I want a change of scenery I have to drive 8hrs to Seattle!
I make $45,000 a year and live in a decent, but older house. If I lived in California, I would be homeless. I could $50k a year and every day after work, I would have to live in the street. That's unbelievable. Absolutely insane.
What do people expect? People are still willing to pay high prices to live in Cali. I've lived in TX, NM, CA, and IL and let me tell you that my favorite state by far has been CA. Of course you need more money to enjoy what California has to offer but it is so worth it. I owned a house in TX where my mortgage was as much as my taxes and the house right now isn't worth squat! The neighbors were extremely rude and nosy. The general population was moronic to say the least. Weekends were spent staring at the ceiling as the you see heat waves out your window. No national parks, can't wander around with your dog without cowboy popping out telling you to leave. You get what you pay for.
Foreign investors with millions $$$ just come into Canadian cities and just buy up everything so when they get overthrown in their countries they just come to Canada
activists should forget about trying to up zone single family neighborhoods in the Bay Area. It ain't happening. Existing homeowners will not agree to see their home values go down and no politician will go against the wealthy home owner class.. It's better to focus on building elsewhere.
@mrparts You don’t need activists, just a property owner that is willing to split a house or to build a new owe with multiple units. Sacramento already conditionally killed of single family zoning earlier this year.
We move, not because we couldn’t afford it. We moved because California is going down hill..Homeless, Crime, trash on all the roads, campsites up and down 280 and 101, cars being broken into and catalytic converters being stolen, fires every summer, every time it rains the power goes out.
LMAO when every city in the country faces these exact problems California is just expensive with avocado toast so the gentrified love complaining abt regular metropolitan shi
@@Mrmudbone_gaming Man, you guys are making a lot of assumptions about his finances! Medical issues? Taking care of a sick parent? But no, it's got to immediately be, "THIS GUY IS OUT OF CONTROL!" 😂🤣😂🤣😂🤣
@likexbread everybody’s situation is different. Still need a car or funds for transportation. May or may not have kids. Everybody’s wallet isn’t the same
Left California in 2013.BEST DECISION I'VE EVER MADE!! Bought my 2bedroom condo in 2020 for 70k 😂🤣😅 my mortgage payment is $300 per month. My stock dividend checks pay my association fees for the year. Electric bill averages 50 bucks a month. Gonna have this place payed off REAL QUICK! Association fees cover water,garbage and heating. When I pay this place off my property taxes and insurance are $89 dollars per month. Nice. Tired of being broke? Move to Minnesota baby! Much love. Peace
I left 6 months ago and haven’t looked back. Best financial decision I’ve ever made. The bay will always have a place in my heart but it’s just not the bay I grew up in anymore.
Thank you for making this series. This is why we got pushed out to the far edges of contra costa from sf and living in Santa Clara for almost 50 years. Even out the market is so crazy we couldn’t afford to re-buy the house we bought 4 years ago.
@@angiec8487 I loved Walnut Creek and miss Bay Area I grew up in Bay Area. I now live in Idaho. I could not afford to live in Bay Area now. I lived in San Mateo and Foster City
I am perplexed by this. I am a Home Inspector in South Alabama and many of the Home Inspections I have performed, have been from people who have moved from there.
You should get with the program. It’s insanely expensive in the Bay Area and California, that is why people move to Alabama for a better quality of life. It sounds like you view a 1970s stereotype of California back when it was affordable and easy to get a good job there.
Many tech companies have there own cafeterias of food, and there’s many young adults and teens that will work those jobs because they don’t have to pay bills yet
People In the hospitality industry can’t even afford to live here, working at a fast food restaurant is financially unrealistic unless your a teen or your the manager
I make almost $30/hr and can't afford to rent on my own. I have friends making 80k/year and the inly way they're affording to rent is splitting a house with 3 other people. North bay is fucked too don't get it twisted
Hah yeah , Teacher here in South Berkeley = home sick ( probably because Im so run down from Teaching these days } If my son was younger and still liviing with me I could NEVER afford to live and Teach here> As it is I live in 350 sq feet and with " rent control" its still getting close to 1,000 $ per month . I know so many younger Teachers with families who are going to quit and leave the bay area Ive always wondered where the Rich think the Teachers who will be Teaching their children are supposed to live? As it is many Teachers already are driving over an hour to get to school . We are so burnt out as it is..... Do they want working people to be flown here in helicopters from far away places we can actually afford to live?? Greed is destroying our culture in general and its clear especially here = Im from Northern California where there used to be a middle and working class = its hard not to feel bitter
@@sarahtiferet9025 the tears I cried when I went to see a rental in north bay that was maybe a whole 400sq ft, run down, no parking, local looney person outside, and a whopping $1450 a month. Being in your 20s trying to work and save while living in the bay feels fucking impossible somedays.
Crime is everywhere Oakland San Francisco DC Detroit Little Rock Charlotte Chicago all of the major cities across the country are going through the same exact issues and I will not let the homeless be the reason I leave my city of my birth it's the people who are elected to office that should be held responsible the mayor and the feckless city council
I live in Palo Alto. It costs an arm and a leg to live here. However, I do think that it is a bit misleading to say that you need to earn $300K to live here. However, the state's taxes, fees, tuitions, tolls and general regulation has led to hyper-inflation in the state. EVERYTHING costs more in California....and the Bay Area is one of the most expensive places to live in California. It is doable -- but it might not be advisable.
...engineers do not make $300,000/yr. Married engineer couples are struggling to pay the mortgage here and I haven't even begun to mention child rearing costs.
@@saltysolly2448 That's BS, as a Software Engineer with over 20 years experience, I barely break the 200k/yr mark. Recently interviewed with AWS, max they pay for a sr. .net developer is 210k.
@@eop9969 You get stock for another $100K a year which could be $200k if the stock doubles.. Tons of AWS engineers have made $500K a year for the last 10 years. Obviously it's getting harder and harder when the company grows. Now it's of course also possible that the stock declines...
Born and raised in the Silicon Valley, moved to Sacramento in 2020. 6 or 7 years ago this would have made a huge difference. But now, there are so many people who have been pushed out of the bay to surrounding areas that prices are rising everywhere. Planning on moving to Virginia or Georgia. Can’t stand this.
Remote working had lead to insane flux of rental prices in small towns across the country. Since someone who works remotely that makes even $100,000+ can move anywhere, they are moving into rentals way out in the middle of no where and finding competition against each other which is forcing rents to skyrocket all over the country.
@@commentor3485 The last thing we need are lower salaries and less incentives to live out in the boonies. What we really need are more residential buildings being built to actually meet the demand for housing.
@@AverageCho You do realize that its city slickers that are pricing out the rural areas. Look at cities that grew because of remote workers moving in. The locals can't afford to live there anymore. Please stay out of the "boonies".
1. I think part of the problem is also that a large percentage of houses owned here are by people/investors who don't live in CA. Most of these investors literally buy houses with cash and the people working in CA are left to compete with these cash offers. 2. Also heard of people owning more than 2 or 3 houses(properties), in addition to their primary house. 3. School zoning is not helping either. Good Schools areas get in bidding wars. 4. With Google ( in MV) , Apple ( in Cupertino), Nvidia & others (in Santa Clara), bay area is priced out from north (SF) to all the way south ( Gilroy ). East side (all the way to Oakland) is now no longer affordable). 5. Pandemic has if anything, spread the remote working class to the outskirts of the bay area ( Tracy, Livermore, Stockton) making these places unfortunately competitive too. But this migration of workers has not taken away the housing demand in silicon valley, as there is still the requirement for these workers to return to work soon.
I don’t know of any homes being owned by people who don’t live in the Bay Area but I do know of several neighbors who are holding second and even third Bay Area properties but they’re spending most of their time in just one of their Bay Area properties. I think they’re doing this because they believe it’s an investment.
The issue ultimately is supply. Californian cities as a whole had been largely suppressing the housing supply through zoning restrictions which makes it impossible for the housing supply to keep up with job growth. Zoning needs to be liberalized so housing can actually be built to meet demand.
so what? they own homes in the south bay. Do you think you and the residents of the south bay are so important investors shouldn't be able to invest in the market? This is the problem. You people think your bigger than life because you work in silicon valley? News Flash - if silicon valley went away tomorrow, the stock market would be open, starbucks would be open and the rest of the frickin world would be open. Get over your self anointed worth. You are the problem!
There are lots of countries where you can’t own property if you aren’t a citizen or planning to permanently immigrate. I don’t see why Bay Area can’t adopt those laws too
@@burntfrootloop4073 Because the Bay Area is not a country. And this isn't an issue of property ownership, it's an issue of insufficient unoccupied properties. Just because you don't own doesn't mean you can't rent.
I got my house back in 2004 when $530k was a crazy price. Now, it's almost $1 mil. People just have to stop the bidding war. Because of the bidding war, the price goes up. Because the price/value goes up, the rent goes up. Even your real estate agent tells you to overbid $100k, just DON'T.
FLIPPERS, DEVELOPERS, FOREIGNERS ARE ALSO INVOLVED IN BIDDING ESP. FOR PRIME LAND & LOCATIONS & MANY CAN AFFORD TO PAY IN CASH LEAVING THE REST OF US OUT OF THE LOOP.
@@daddy3048 GET YOUR HEAD OUT FROM YOUR ___ SIMPLY, YOU'RE NOT PAYING ATTENTION BC YOU'D KNOW THAT "YOUR" GOV'T ISN'T OPERATING BY AMERICANS INSTEAD IT'S RUN BY THE COUNCIL OF FOREIGN AFFAIRS, TRILATERAL COMMISSION ET AL. & OLD MEN WHO LIKE TO RUN THRU THE FOREST BUTT NAKED THEN WEAR SUITS TO YEARLY SUMMITS DECIDING YOUR FATE FROM THE LIKES OF THE KLAUS SCHWABS OF THE WORLD.
As a person that grew UP in the bay area for 25 Years, I was only able to accumulate wealth when I left. Never looked back and have a paid off home, wealth saved for my Children.
This is why we moved out of the bay area. We live in Northern California 2 hours from the Oregon border. My husband is a heavy equipment operator and he's the only income. We bought a 3 bedroom 1 bath home with a decent sized backyard for 164,000 and our house payment is 1200 a month. We make decent money and it's still tough sometimes. California is ridiculously expensive..
@@xalvinthegreat5626At the moment I wouldn't say she's fucked. Just way to comfy and confident in what "husband" makes and nothing going on for herself and the family as a whole. No contribution but just being a wife. That's a no go in today's world.
Soooo funny how it took sooooooo long for people to catch onto this. Bay Area gov reps sold the Bay Area to tech companies 20 years ago and now you can’t live there unless you work in tech. It was nice SF, you were the best and you will be missed.
You think the tech companies are benefitting from this? It was the people who had the land and houses originally before the tech people came that got the most money. And those people are the Bay Area gov reps and their associates.
zoning laws preferring single family unit housing vs high density housing is the reason why housing is so expensive in the bay area. Lack of space in SF specifically necessitates large high density housing structures like Hong Kong.
Nobody wants a shitty multi family building in there back yard. The last thing anyone wants is to turn a beautiful city like San Francisco into Hong Kong. Oh, by the way, even with all the multi family units in Hong Kong, it’s still expensive as hell to live there. More Multi family units is not a solution.
@@anonymouscitizen2732 Oh great, here come the NIMBYs. It's expensive because the hong kong government owns all the land, and they make a lot of their money from slowly renting to developers, but not too fast, so that they can keep prices high. A better example is Tokyo or Seoul, where the housing market is much more free. And the reason why so many people can't afford to live in SF and end up homeless is because nobody wants more housing "in their backyard". Well guess what? If you don't want multifamily in your backyard, then don't live a city! NIMBYs want it both ways. Either live in a city or don't. Putting 1 housing unit on a big lawn then running to the city council to restrict housing for everyone else is not how you run a city. This is madness.
@@WhatIsThis-zq4hk it’s going take a hell of a lot more than one front yard of realists to fill the demand for new housing. Until you become a property owner, let the big boys decide the fate of there real-estate. By the way, 100% government control over our real-state is exactly what the dems want, they want to turn this place into Hong Kong.
@@anonymouscitizen2732 You're not getting it. I am arguing AGAINST government regulation. I am arguing FOR property owners to build what they want on their property. I am PRO free market. I want LESS government control over people's property. Right now, city councils have an encyclopedia of regulations and zoning laws that make it extremely difficult for developers to build more housing units. Why don't you take your own advice and stop supporting regulations that limit what property owners/developers can build on THEIR land. You whine about evil dems controlling your real estate, but you have no problem controlling other people's real estate if you don't like what they are doing.
Yes, I am now able to work remotely 100% of the time. I could sell my San Francisco house for almost $2 million and move to Sacramento. In Sacramento, I could pay the house off in full and still have over $700,000 in the bank. The cost of living is cheaper there and so are the property taxes. I would be able to save all of my income for retirement. I am still 18 years away from retirement. I have a pension and several million already saved. I would be able to retire early in Sacramento. I could avoid the homelessness, crime, traffic, exorbitant parking fees, taxes and rude people simply by moving. It seems like a win win scenario. The biggest perk is that my wife would no longer need to work anymore. Now, I just need to convince her to leave San Francisco.
@@mocheen4837 yes I guess if it's worth it being in the middle of nowhere valley and it's hot as hell also there's plenty of homeless and rude people in Sacramento it's always been a dirty place
I moved out of my Sonoma county home I lived in since I was 12. I could no longer afford to stay. Everything had gotten SO expensive, even with the good money I made with my business. I found a brand new home in Northern Arizona for $299k and am semi-retired. No more stress, because it's so much more affordable. Plus the 'leaders' of California are off their rocker and it'll only get worse.
I had to move away from the Bay Area because it was just too expensive for one thing and way too crowded for another thing. It’s just a sad thing but it’s true and I know that I will get a few rude comments and I look forward to hearing from you
No negative comment here. My first time in the Bay I was getting by on 18/hr in downtown Oakland. Left in '12 and came back in '17 and couldn't believe the spike in rental prices. Also noticed the spike of people that moved here. Used to be no traffic at certain times of the day and night. Now it's constant. I for one can't wait to leave again.. for good.
It’s so expensive, people that are in tech are lucky that they make so much money, it’s so hard to make it unless your living with family or living with your bf/gf
Every time I think about the wage level difference between different jobs here in Bay Area is insane. I am in non-tech design field and my starting wage is around 50k a year and it takes almost 10 years to reach to a 150k! But for tech people, 150k is probably their one month salary. Sigh…it’s so hard to live in the Bay Area as a regular people.
Spend 2 years with 2 or 3 roommates splitting the costs. Save up your money. Get you a "special other" who's an earner like you. Buy a house in East Oakland or Hayward, even Stockton. There's always a way Calvin. Be flexible.
I think part of the reason housing (including rent) is so expensive in many cities in CA is due to regulations. I heard it takes 10 years to get a building permit in CA. Many transplants especially those who work in IT came there for tech jobs. Other factors include greed, increase in property taxes and so forth.
In the bay area homeowners vote against any new housing developments so that supply remains low thus raising their own housing prices. My grandfather bought a house for 2x his salary in the 60's. Today it's 10x-20x if you make (50-100k)
Not just regulations but the residents don't want more housing. Lower supply drives up demand which equals higher property values. We call those people NIMBY's (not in my back yard).
I only pay $700 a month for a large private room with private bath 25 mins from SF, in San Leandro. That’s less than $10k a year for housing. TC 500K (including RSU)
Anywhere else in the country and if you teach English in some other countries you can enjoy a much better earning to cost of living ratio. Not mention quality of life would be a world apart. If you are female your options are even better
I'm a mail carrier in tx making around $50,000 (about 60 with overtime) a year living in a houston middle-class suburb, obviously I'm not rich but all of my bills get paid when due, ALL my needs are satisfied and for the most part I get my wants. Thats making between 50-60,000/yr... what the hell is going on in Cali??
My high school use to have close to 900 students in when I went graduated in 2005. It now has less than 400. The school district may have to try to join the Richmond School District, turn private, or close.
The jig is up on home ownership. There was a one time opportunity when the market fell flat in 08-09. Certain people were PAYING ATTENTION. Homes were bieng scooped up by outside investors b/c properties were at low level prices. After the pandemic hit, the expectation was prices would go down since the economy went down, but a lot of people continued in the homes they paid low levels for 10 years ago or have been selling them off way over asking price which is pushing prices higher. From what I understand, there are currently actual tour buses specifically geared for investors that tour the Bay Area to scout out available properties. The Bay Area is for sale, but not for family home ownership. 😐
This is what happens in a booming tech economy. The cost of living goes way up and people get squeezed out. At least in the Bay Area there is BART so you might be able to live without a car. Its sad that any city in America is so hard and expensive to live in. Why do you think there are so many homeless on the streets. Some of them would have college degrees, you know. Not every person on the street was troubled all their lives. Not at all.
no lie, you need an escape plan. now. the 'joke' is people return from gummint work and take their pensions to move somewhere they can afford. then you hear about the amazingly successful way CA in general is run (anyone who believes that needs more research and read between the lines) and how it's got aaallll this money in surplus. really, how can you have a surplus of billions when you're on the hook for unfunded pensions to the tune of almost a trillion dollars?
@@dlcmiamiinc that problem is you guys dont respect hard work. Its the discipline that comes with it that humbles you. Easy work makes you a spoiled entitlement mentality.
@@Kentrantran maybe for fedex express drivers but for ground its $200 salary a day plus $1.30 per stop when we go over 130 stops. I usually do about 220 stops a day( on average sometimes more sometimes less ) which equals to $317 a day but mind you I usually work 6 days a week.
Minimum wage in SF is 17$/h. We typically rent three bedrooms together so it's less than 1,400$ a person. I live in Castro district and pay 1000$ a month. I make about 2,600.
They do it because they have or share rent with roommates that want that big tech job/break. That's how they do it. Also college students do they same with a 9-5 or part time job, w/ a car payment on top. Unless your a foreign exchange student.
@@senna6774 I make $45,000 a year and live in a decent, but older house. If I lived in California, I would be homeless. I could $50k a year and every day after work, I would have to live in the street. That's unbelievable. Absolutely insane.
It’s called “hacker hotel” - small rental homes with 4 bunk beds crammed into each room. Basically prison conditions but you’re free to come and go at will. Otherwise, pitch a tent off the 101.
I remember 09 my dad bought a house for 40k in richmond ca invested 50k ( needed to remodeling and repair ) and now his house is worth almost 300k. I still cant believe how cheap it was in richmond back in 09... They're were giving away the house for free.
because home building slowed to a trickle after the 08 crash and never recovered. Now theres too much demand, (low interest rates) and low supply ( retiring boomers are living longer and they're not moving or downsizing as predicted, they stay put).
Sadly if this keeps up, the people that can afford to purchase homes and “live comfortably” will have the biggest targets on their backs, and become the victims.
How in the world does "corporate greed" play a role in housing prices? LOL I wasn't asleep in Economics class. This is a supply and demand issue. Tech jobs are driving demand. But the local governments and NIMBY's won't build more housing. You have to balance both. Meanwhile, Uncle Joe could increase interest rates by 2% and cool everything down - the housing market, the stock market, etc. Everything is too frothy.
@@crabkilla Housing costs are skyrocketing in places because the politicians there allow for new office space for its tax revenue, but refuse to permit housing or make it so the permit is unaffordable. That makes the homes that are already built to become more expensive. Plus corporations set the prices on everything needed to build a house.
@@river13 Not true Jim - supply and demand set the price for everything. If you know of some price-fixing, there is whistleblower money to be had. Government and politicians control all aspects of development - what can be built, how much, and where. Not corporations, not people. So if there is not enough housing or housing is too expensive, then it is the government's fault.
I love living in San Mateo, but I can only afford to live here because I bought my house decades ago when housing was cheap. Plus, my property taxes are low thanks to Prop. 13. Prices are high because of a thriving economy and a severe shortage of housing. The Bay Area is extremely confined by geography. It mostly consists of water and mountains. Nearly all the land flat enough to build on has already been developed. It is time for many of these high paying jobs to move to other cities that still have room to expand.
Also many firms are buying up properties en masse to drive up the prices and to control supply. There's also a lot of foreign investors using housing to hedge assets driving out locals. Combine that with the housing that is being built that just gets used as "luxury living" so the property owners can maximize their profits. There's so many more factors in play than simple supply and demand.
@@ggstatertots that's exactly the only reasons why housing is still going up in the bay area and overall in California, foreign buyers and hedge funds black rock and Co. All the other explanations like thriving economy and lack of land put out there by those called experts and this very media is lies just to keep the housing market heating up even more they are also benefiting somehow from it or we dig more I won't be surprised to find out they get paid to spread these ideas. If our local elected really work for the people they should pass a low banning corporations and foreign investors buying "single Family " houses which are supposedly called so for a reason.
The trend I see is consistent flux of very talented people around the world come to Bay Area to work hard for 10 years and then move out to somewhere else with enough wealth to live comfortably when they want to focus on other things in their lives. It feels more like a factory rather than a community.
So... If only rich people can afford to live there who will work as teachers, cooks, cleaners, mechanics, police officers, etc? Is it safe to say the only people who have to commute are the middle/lower classes? Remote work as a status symbol
I left for Fresno and moved into the Tower District / near downtown Fresno. Best decision I have made going 1 year and a half strong! Remote work and remote university changed the game. Plus I get to keep my california salary and live in more affordable Fresno.
@@imd1b4u Pretty good better than when I stayed in Austin Texas for 3 months or Phoenix one summer as well. There is no humidity which is what I worry more about. I have solar powered AC so its free for me and used the California EV incentive to get my Tesla a while back which also has AC. I suppose I could pull out my neck fan or anti-heat polo shirts I got while in Dubai which was scorching hot. Californian beaches are only 2 hours away which doesnt matter if your not driving haha or taking turns 😎
How is the Bay Area going to function when there are no places for anyone working in service or retail jobs to live? What will happen when there are no longer any custodians or other cleaning staff because there are no places they can afford to live?
It can be if NIMBYs stop forcing most of the land to be zoned for single family homes and lawns. This problem is totally preventable. It's supply and demand.
I’m moving to Walnut Creek because I can afford to do so I’m 25 and I’m tired of the shit in Oakland that’s happening. People are dying every day slum lords are something of the current phase of Oakland….. and I’m tired of the issues in the black community that shit isn’t changing. It’s only touching lives at a greater length.
@@mocheen4837 okay I'll play along =LOL! Poor pathetic Troll = BLM?? try again how much $ are you making from my comment I actually feel sorry for you = nah just kidding
Facts. I'm currently in the rising up program which is financial help for Frisco youth natives trying to afford housing in the bay. They deadass keep recommending east Oakland apartments and I'm like nah fam I'm straight. Me and my brother have 50k collectively through our subsidiaries and all the program can do is recommend cheap apartments in Oakland. Ain't no way I'm moving there.
I left the Bay Area 7 years ago. I made $32,000 last year. I’m a disabled small business owner. Renting a room in Concord California my home town is costing $1,850 a month for a single room. Everyone in California I know has either moved out of state, or still lives with their parents. My apartment in Baltimore, is a huge 3 bedroom apartment for $1,500 a month. Internet included. We only pay for gas & electric. California I visit to see family but every time I go back to California it’s more and more of a joke. California is not for the poor, or disabled like me and I like my independence I love my parents but they’re Jehovah Witnesses and would drive me crazy.
I grew up in San Mateo California. I don't live there any longer moved away 10 years ago. My two sisters still live there and barely survive financially.
Just to make up for inflation just this last year we had to increase our labor rate we charge customers 24% From $150 an hour to $185 an hour. And the same with our parts and materials and products price increase. And as the price of product materials we’re doing business and living here over the next several more months we might have to do a price increase again monitoring the pulse of the money
@@joshcardone1836 yes finding parts has become very difficult and time-consuming and that adds cost or losses to a job just to acquire the parts because of supply shortages. At the beginning of the supply shortages caused by Covid actually Covid did not cause it our government and the way they handled it did. We used to eat and absorb the losses of acquiring part shortages with the time taken to travel or phone calls but now we even charge that extra to acquire parts, charging to our customers job we will no longer eat that cost. A $70,000 job is now over $100,000+ And up. Good going government on shutting down and bankrupting a large percentage of your population.
Maybe make multi family house a thing and a denser housing. Maybe also make renter protection stronger and better so not everyone needs to own their own homes.
Bay Area drama: no parking, cut-throat drivers in traffic, homeless everywhere, no affordable homes, decline in school enrollment for children, pedestrians deaths, stray bullets, soon to be vax cards, high rent, insane home prices; alright everyone, fill in the rest:
@@alexlopez5800 people get bribed in w/ a promise of a 100k plus salary. It's true for most, but everything else is expensive as well. Wait to you see the bills on daycare.
@@YA-qj8fx that's just in cities sf,sj,oak, Richmond that are grimey and shady and packed but besides that Bay is beautiful if you are 30 plus and didn't buy when it was still reasonable that your fault I envy people who were adults with income back in 2011-2015 that had the chance to but but didn't, I blame everyone who is older than me for not taking part in housing market so many middle class people would be set now if they had just gotten their shit together and didn't take it for granted I was a teenager in the hood then and even I could see price raising coming with tech boom I would tell everyone in the hood to buy but non one listened we have to take accountability for ourselves for not valuing our own home until someone else did
@@YA-qj8fx I live in peninsula East Palo Alto and it’s super chill over here I have left my car unlocked by accident and shit still don’t get stolen no bipping over here like I said it’s only in the cities with high population
You make over 150k or even 200k a year and your mortgage is sucking up over 75% of your income. You then left with nothing for anything. I see too many cash strapped cash poor home owners. No thanks. And who wants to live in a homeless infested neighborhoods? Or hoods?
That is why people in the Bay Area are so unhappy and grouchy. Look at the way that people drive. Crime is rampant and homelessness is at an all time high. The BLM movement has destroyed the East Bay. The Bay is no longer a desirable place to live.
@@mocheen4837 One of my co-worker just paid 1 mil for a house in Hayward. He's already planning to spend his entire bonus from next year to fix his roof. Needless to say, he now has zero savings and can only hope he can get by this winter from a leaky roof. His has stopped his 401k retirement contribution all together. Another one of my coworker paid over 1 mil for a 2/2 aged condo in Redwood City. They have no money for everything else while they pour their entire paychecks on mortgage. They both have something in common, young (20-30ish, and fear of missing out FOMO).
Lots of people are moving a little further. Check out " 5 things I like about Mountain House, Ca " Great community, great homes and schools. Yes, it will add some commute time but everything has pros and cons...
Awesome. I currently pay $2500 for a “luxury” 1 bedroom apartment during. Which I willingly stretch at the higher end of my budget for the amenities. Looking at the current prices now it looks like by the time my lease is up I will be looking at $2800 a month for the same place. Which also means I will probably be moving out in 6 months. Absolutely ridiculous.
@@ALinn-vr3nl honestly there are pretty decent amenities (gym, pool, underground parking, rooftop deck) its all nice but seldom used. I care more for the modern apartment layouts, appliances and location than the amenities. But you're are not going to find a new/modern apartment that doesn't include all the nice amenities to cut the cost you would want to forgo if that makes sense.
A problem they don't mention is the fact that schools teach people how to work for others. Very few of those people become entrepreneurs, and those that do weren't taught that in school. The best way to build generational wealth is to build a business and don't stop there.
Bought a 3 bed/2 bath in Stockton last year for $253k. Wanted to stay in Oakland but was aware and realistic enough to recognize the writing on the wall and I wanted to be a homeowner, not spend all my money every month making someone else rich. It's actually been pretty cool so far, go for it.
@@glong86 good for you, my wife and I was looking out there Tracy, Patterson, Manteca. We eventually just bought a condo for 349k in East Vallejo. Quiet area, it's only our condos that neighbors the area and then CHP down the street. And a private high school. But same tired of paying someone else's mortgage
So depressing. I Still live in SF (and have for the last 30 years) but i know it is only a matter of time before this city spits me out too. Only to replace me with one of the tech drones making 5x my salary. My roots go back to the 1870's in SF and now to barely be able to exist working a normal job.... We have been bought and sold by greedy politicians and big tech without having any say in whether or not we actually wanted any of it. I know you cant stop progress but progress is not always the way to go if it decimates its communities in the process.
My family in SF goes back just as far on one side. We got pushed out in the early 2000's. Nice pay-off selling out, but doesn't go too far if you stay in the nicer parts of the bay. Good luck, I hope it's still a cool place to live while you can.
🎯❗️Well said. Native San Franciscan here, now 58. Absolutely appalled at how filthy (and crowded) my birthplace has become. I left in 2010 and moved to Point Reyes (I LOVED it there!), now in Alameda for a few years. The weather is good, but it’s quickly getting more crowded here…and it’s WAY TOO FLAT for my liking. When you’re an active person (former gymnast and professional dancer who loves hiking 🥾), living in the flatlands makes one REALLY miss the hills/hillsides. I’m now ready to leave the country (Canada or France). Wishing you and everyone who’s struggling to survive (and have a truly decent quality of life) the very best. 💫
I work in San Francisco and make close to 500K with RSU. But I only pay $700 a month for a large private room with private bath 25 mins from SF, in San Leandro
I am now retired. Had to sell my home. It was a older home. Started to have major problems all at once that I couldn't afford on my retirement salary. Sold my house. I am renting a 2 bedroom for $4100 a month. Can't stay long. I am going to have to find someplace to retire. Too bad, I was born here.
In NJ my property tax is about the same as my mortgage. The workers at the municipal office are very rude and clearly annoyed to provide you with any services.
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This is insane. Even with these tech companies, you still need people with everyday jobs for society to function.
" people with every day jobs" are slowly being pushed into homelessness.
Yeah they think doordash is going to walk their food themselves to their tech door lmao
This is very sad to watch what is going on in the Bay Area!
@@goldenstatew2399 It's self-driving and robot delivery. Last I checked yes these do walk the food to their tech doors and its almost done being developed...
@@larasingg closest thing u got is a drone dropping yo chipotle in the sidewalk lmaooo goodluck. 😂😂😂😂😂😂
You pay a million dollars for a closet with the best views of drug addicts and pimps
@Adventure West Yep.
The price is based on the willing.
Just say your an out of Towner and CANNOT AFFORD IT
Picky people chose that lifestyle. I only spend 2% of my income to rent my current bedroom with private bath 25 mins from downtown SF
That’s sadly true 🤣
As someone who used to live in the Bay Area, I don't know anyone who lived comfortably there.
Facts. Most people are just making it paycheck to paycheck
I am sure political people with their body guards live very comfortably
My family used to live comfortably here in CA back in the 80s and 90s. Right now, I am not rich or anything, but we aren't living paycheck to paycheck. That's primarily because the house my wife and our family lives in, was bought and paid for in the early 80s, by my wife's father. If we didn't own our home, we would be paying more every month, and likely couldn't afford a place for us and our kids. My parents lived here in the bay forever. But they had to move to Arizona, after they retired, because day to day life is pretty much impossible on a fixed income here. I doubt My family will stay in CA forever. It just will not last here. I see CA becoming a ghost town in 25-50 years, because people will want to come here for jobs, but then won't be able to keep living here when they are done working.
I lived comfortably...back in '85, but I was 8, so...🤷🏽♀️
@@davbhard The same here where I live. After Dad died my brother got the house.
He and his wife and kids live there now and he had enough to buy the other family house down the street.
Two blocks over from the house our cousin and his wife live in. Three generations in our family house.
That my father paid LESS than $20,000 to buy!!! In the 1950s. There is a downside to a booming economy.
I've lived in the Bay Area for over 50 years. I can honestly say that it is at it worst as of now. When I was a kid in San Francisco, there were no homeless. Houses in middle class neighborhoods were $50,000-$80,000 and in the Sunset district houses were around $100,000. You could make $50,000 for a family of 4 and still afford a house, a new car, and have enough left over for entertainment. Today, you need to make $300,000 for a family of 1 to get a somewhat descent apartment in a middle class neighborhood. This still won't qualify you to buy a house. And thats if you can find one for sale since San Francisco has nothing to buy. When a house does go up on the market, it usually sales within 2 weeks at an inflated and overbidded price that might be $100,000 more than the asking price. If you don't have to live here, then don't even bother. Its a homeless factory. The jobs pay good, but not good enough to buy anything. Its like that from San Francisco to San Jose. Everything is between $1,000,000 and 40,000,000. Not joking.
There were homeless 50 years ago. Back then we called them bums. They generally were alcoholics. Back then we called them winos. They weren't strung out on all the powerful levels of narcotics that's out there today. Pure poison now destroying their minds. They would stay in the SRO hotels in the Tenderloin.
50 years ago San Francisco was known for the homeless population.......you obviously didn't live or grow up there.
Born and raised in San Francisco (DUH) But 50 years ago, I was just a little kid in grammar school, so how would I know anything about homeless. I lived in a house.
@@obijuankenobi420 The Tenderloin always had "homeless" people. NOBODY called them homeless. That wasn't a term back then. 50 years ago was 1972. It wasn't on "anyone's" radar. It was in the 80's where it started to escalate. You may have grown up in SF but you don't know what you're talking about.
@@vision-gc4hy You think the TL was the only place that had homeless ? You dont know what you're talking about.
It doesn't sound healthy when only tech workers can afford to live in the Bay Area. All of the other types of workers need to do long commutes, which increases traffic congestion.
Facts I just added to that congestion I use to live in Alameda and commute to Oakland for work. My wife and I bought a 2 bed 1 bath condo for 349k in East end of Vallejo now commute is 40-60 min when it use to be like 12 minutes on a backroad lol
Its not. But that's the pathetic shit. These tech workers and tech companies have no idea the issues they are causing. Even physicians are getting priced out. When you have essential workers, like literally workers that are the backbone of the country, having to do 1-3 hour commutes because their jobs can't be done remote, that's going to cause an issue in the Bay Area.
@@NissanSkylineVR30 sf healthcare worker here. Yep, live in a Walnut Creek apartment and commute is an hour if I’m lucky by car, 90 minutes by BART. Best thing the pandemic did was enable work from home for all the tech workers so essential workers don’t have as much traffic to deal with … but even that is returning normal now.
I know people driving 2 hours each way just to work in San Francisco. I hate the traffic here and the drivers are so rude. Just because you signal does not mean cut in front of the person.
@@mocheen4837 right lol it's like where are you going no ones moving any faster lol. I take 780 to 680 to 24 on the way to Oakland Airport traffic is ridiculous for no reason too lol
In other words my kids will never move out.
Exactly, you should move to another state so your kids can get a leg up in the world. It’s almost unfair if you don’t
29 year old still living at home 👋, disheartened bc if my parents ever sell I won't be able to live here comfortably on my own
Surprise! 🙌
If you have large backyard,no need to worry so much.Walmart offer good and wide tents.You will preserve the whole family close.
@@kombaster9398 🤣😂I’m sure that my kids would ask me to move to the tents 🏕 instead they …
Went to school in the Bay Area but moved to the Sacramento area in July 2013. Best decision ever! My wife and I are in our mid-30s and we paid off our home last year. We purchased our 4 bed, 2 bath home in 2013 for $188k.
2013 a great time to buy. Congrats!
Paying off a house in eight years is not for everyone when mortgage rate is so low it's practically free money. I bought my current house five years ago and only put 20% down even though I could pay cash. I tripled my money on that other 80% by letting it stay with my investments.
Bought a house in Sacramento in 2001. Sold it and stupidly moved back to the Bay area due to lack of employment options. Now I'm making minimum wage and will probably never be able to buy another house in California.
Sacramento Area is probably one of the most affordable places in Northern California to live. Especially the Elk Grove area. The closer to the Bay, the more you pay. In the next 20 years, it going to be RICH only and no such thing as middle class. Total Gentrification.
@@shawnsereal Elk Grove is exactly where I bought the house. Then moved downtown, then near Sac State, then back to the bay
"It's the price we pay of our success here in the bay area"
No, it's the price you pay when you allow NIMBYs to block every single fucking attempt to build more housing units, which restricts supply, and makes prices go higher. I'm so tired of people acting like this is some magical unfixable problem. The problem is most of the limited land is zoned for single family homes with big lawns. Cities like Seoul, Korea have 3x the population of the bay area and LESS land to build on, yet somehow manage to keep rents stable. Maybe it has something to do with the fact that supply is allowed to keep up with demand. There is plenty of room in the bay area to house everyone if you stop forcing most of the land to be grass.
Exactly!
Seoul? Rent stable? Not really. Condos there cost $1m and up. Condos; not houses.
@@donutchoi Yes, rent is stable. You just gave the sale price not the rent price.
It isn't nimbys that are the issue. It's international wealth funds,East Coast and foriegn investors speculation in housing markets. They control the political system,the zoning,the markets. Speculation in housing markets should be outlawed for obvious reasons.
@@williamryan7403 You're barking up the wrong tree; the problem is not the "international wealth funds", it's the local Karen down the street who is willing to attend every local city council meeting and object to every single development or rezoning because of "neighborhood character", or "traffic" or "the wrong kind of people" moving in. Or more euphemistically, "not enough affordable housing proposed" or "we need smart growth".
Part of me believes that the housing market is nuts and the appreciation is unsustainable. But part of me knows this has been the story of the Bay area my entire life. I remain unconvinced that anything will change for the better.
The breaking point is near.
Things are changing. The RHNA recently has been reformed to actually give it reinforcement powers to require cities/counties to construct sufficient housing.
Not my entire life. Nor my mother's. Nor my father's. Nor my grandmother. Nor my great grandparents. Things were far more affordable in the early 2000s.
It’s up to us
Yea Things definitely wont change for the better. is Involved And Housing in as a Business these days not a Place to live
300K per year, and they still expect people to work happily at McDonalds and other service sector jobs lol
Who's "they"?
@@OGFrylock Gen Z
@@Sal-rp3gy gen z expects that???
@@OGFrylock The wealthy demographic in the bay area along with the business owners cranking out low wage jobs and then acting like victims because noone wants to take them.
Pretty soon the motivation to live will be gone
I do like how he’s trying to bring attention to it breaking down how insane it is and how healthy of an income u can have and you still can’t afford housing.
What a great segment. The breakdown presented shocked me but after thinking about the fact that a 1 bedroom condo costs about $600,000 to purchase, and not taking into consideration a $600 monthly HOA fee, I definitely think people are being priced out. There is such a large amount of people who don’t work for tech companies who don’t have stock options available to then use for a down payment. Something definitely has to change.
Everybody is trying to live in the same place. When I moved to the Bay, I had roommates. That allowed me to split costs and save up money. There's nothing wrong with buying a house in East Oakland/Hayward. Anywhere on a BART line. Even Stockton. You can still get to your job. People get frightened by these kinds of reports, but there is always a way if you're flexible.
My brother moved to Utah and he pays $1,200 mortgage for a 1 acre 8 bedroom 4 bathroom a pool and always has money & time during the week to go fishing off-roading. Meanwhile I have 2 jobs and can’t afford to go out on the weekend.
People aren't being priced out,the people that move there make more money and the people don't move somewhere else
@@joeknowme7968 what city, I need to check it out
@@vision-gc4hy By flexible you mean be ready to suffer on the long commute everyday
I'm a Senior Engineering Manager at a FAANG. My boss, a director, just bought her first house. And she could only afford it because her spouses parents helped out with the down payment, and she got a huge stock payout. A director!!! Just barely affording her first house. I can't even afford a house at my level (I get no help from my parents, you are lucky if you do), and I'm only one level lower. I'll have to wait until my stocks fully vest in another 2 years, and I'll have to pray there isn't another huge spike in costs like there was this year to be able to afford a house, otherwise I'll have to get a 2 bedroom condo instead.
What the hell is going on when even high level people in tech can't afford it anymore.
Senior engineer manager at FAANG could be earning 500k-600k+ a year, right? Not to mention a director. Honestly it shouldn’t be too hard for you guys.
Global housing market
@@imobiapp those people want a mansion not the sub 2M houses we plebs live in
I can’t believe how rich the Bay Area has gotten. It’s crazy. Tech companies have changed the Bay Area forever.
THATS NOT IT, INFLATED MARKET AND OUTSIDERS BUYING HOUSES
Expensive but not rich.
My family moved to the Bay Area from Portugal 40 years ago. There are only a few of us left in the area now. This is my family's home in America but it is unattainable for us now. Greed has pushed us out.
Your parents have common sense. They chose a great place to live.
@ Ricardo “Home” is wherever you and your family are. It’s not a location…
@@sfrealestatedealmaker6001 My family chose this location because it suited us and became a home. Spouting Hallmark card messages doesn't solve societal problems.
I'm so happy to move from Orange County back to Maine next year! Average home in OC is 900K, while in Maine it's 250K and you actually get a yard!
Enjoy the 10 feet of snow and -40 weather
@@Striker50_ I already dealt with it for the first 21 years of my life. Plus with global warming it's more like -30 and 8 ft of snow
@@AdADglgmutShevanel Still sounds miserable
@@AdADglgmutShevanel LOL! Lived in VT/NH for the past 15 years. Welcome back to New England!
New England is so much better, you have a yard and it's definitely more affordable. (Generally, compared to other places, depending on where you are) Coming from someone who lives here..
In my opinion, in 2021, if you make less than 200k per year in Bay area, you should consider yourself a low-income.
I quit my job a few years ago. I lived in SCruz.
A few weeks later my landlord said she was gonna double my rent. I moved to Texas.
Now I have a home paid cash.
No debt
Tons of money.
Life is good
What part of Texas?
@@alexnavarro5477 Coleman
@@PInk77W1 thank you
Thankfully this is illegal as of Jan 2020. The CA tenant protection act, AB 1482, means your rent basically can’t go up by more than 10% per year now. Happy that you’ve found a nice home in Texas though
@@thesufficientgatsby I love CA
But CA don’t love me
Tech companies must figure out how to pay for their kids' teachers and daycare workers, university professors, house cleaners, BART operators, supermarket clerks, mall employees, gas station attendants, healthcare staff, gym attendants, and caregivers, etc., etc., etc., when they're old and disabled.
Do you know how much Bart operators make? They are not poor.
The Bay Area is WAY overpriced. Especially considering *all* of the problems here.
High crime. Congestion. _Horrible_ traffic. Everything is a hassle. Earthquake danger.
Yep, you're right!
Yeah the crime is horrible. Don't listen to anyone who tells you any different. And if people know this about the bay area. Than why do they still move here?
AS IF OTHER PLACES DO NOT HAVE CRIME, CONGESTION AND HORRIBLE TRAFFIC AND OTHER PORBLEMS
You forgetting the biggest problem big tech corruption. Big tec owns the Bay area
Scott Budman is absolutely correct. I worked in the Bay Area a few years ago and everyone I met who recently purchased a home there worked in tech and bought their home through selling stock. The “Google effect” they called it. Many have left the Bay Area over the past year but a large percentage of those will also soon return driving prices even higher. Guaranteed.
I have some doubts about this. I used to live there and didn't like it. Last straw was recent fires. For me, it was a threat to my lungs, for some other friends, well, they were evacuated from their home ten times a season. Sold it afterwards.
And it is a quite observable lack of qualified software engineers. Lack of cultural life, lack of females for single male especially, considering gender balance in tech. Entrepreneurs may want to rush there seeking for funding, but engineers can easily stay in a better place for living.
@@Seva896 can you elaborate about gender balance. Software is the only field in engineering where you have a healthy % of females.
@@gweher43 that sounds sad. Though other jobs may located in better locations. SF / Bay Area leave you with feeling with the extremely skewed gender balance.
Dad died when I was young. Raised in the projects in West Oakland when it was clean and safe and very segregated. Red lining and drugs destroyed the area. Now the homes are selling for 7 to 900,000. Purchased a home in one of the nearby suburbs in 2011 for 411,000 dollars. I was bitching and complaining about that price. I could easily sale my home right now for 1million plus. These prices are insane.
I am so happy you mentioned red lining. The Bay Area never wants to talk about that and it's disgusting.
@@tbreeze415 agreed. Color of Law was a great book that detailed the redlining in Richmond and the east bay
Then you can give Biden his 40% of your take. Were by doubling your money that you initially invested. 800,000$ walk away cash.
I can afford to stay here but I’m still leaving. The Bay Area just lacks happy people and style
There’s always BIG beautiful SPACIOUS family areas like Irvine for folks like you that can afford the high threshold. 👌
Which state are you planning to move to?
please leave your politics there. or go to LA or Portland. I can understand wanting to leave, as it's hard to find retail businesses that you can patronize and want to continue to do business there.
SF is super sad, angry and begin to be dangerous city… want to leave so bad
I honestly believe that most people here are unhappy and can barely make ends meet. The problem is that every time I go out I see people driving fancy cars and eating out and expensive restaurants. I assume that everybody is wealthier than me and is a multi millionaire.
I am a 5th generation Bay Area guy. I was making good money, but only $160K a year in a Union. I moved to Montana in 2016 so my wife doesn’t have to work and we can raise our family in a more traditional way. Will always miss the weather.
I fantasize about moving to Montana. Mt husband has. Tech job that he is already approved to do 100% remote, and take his $136k year salary with him. It’s tempting, especially when working 60+ hours a week for my $115k year salary. Good money but I’d like to slow down the treadmill!
@@jenniferbond7073 yeah a lot of people have moved out here the last 2 years. Realestate has doubled. But it’s still cheap if you have a few hundred thousand in savings/equity. But the lack of sunshine and warmth takes some getting used too. The slow pace and the safety and freedom are very appealing!
U miss trash Bay Area cold weather? 😂
@@HotBoii91 I miss the gentle weather. The smell of eucalyptus and flowers year round and the world class variety. If you don’t like the fog or the rain you can drive 1hr and be on another planet with sage and rosemary and brilliant sun. Or snow and gambling!
Where I live now, it’s cold 🥶 and quiet and if I want a change of scenery I have to drive 8hrs to Seattle!
I make $45,000 a year and live in a decent, but older house. If I lived in California, I would be homeless. I could $50k a year and every day after work, I would have to live in the street. That's unbelievable. Absolutely insane.
What do people expect? People are still willing to pay high prices to live in Cali. I've lived in TX, NM, CA, and IL and let me tell you that my favorite state by far has been CA. Of course you need more money to enjoy what California has to offer but it is so worth it. I owned a house in TX where my mortgage was as much as my taxes and the house right now isn't worth squat! The neighbors were extremely rude and nosy. The general population was moronic to say the least. Weekends were spent staring at the ceiling as the you see heat waves out your window. No national parks, can't wander around with your dog without cowboy popping out telling you to leave. You get what you pay for.
It’s difficult because high density housing faces the, “not in my backyard,” excuse in the Bay Area.
Foreign investors with millions $$$ just come into Canadian cities and just buy up everything so when they get overthrown in their countries they just come to Canada
That's everywhere.
activists should forget about trying to up zone single family neighborhoods in the Bay Area. It ain't happening. Existing homeowners will not agree to see their home values go down and no politician will go against the wealthy home owner class.. It's better to focus on building elsewhere.
@mrparts You don’t need activists, just a property owner that is willing to split a house or to build a new owe with multiple units. Sacramento already conditionally killed of single family zoning earlier this year.
@@matthewbiehl3412 do you know how much that is impossible? There are zoning permits that happen so even if someone wants to do that, they can't.
How could this happen? The people who run these cities and the senators and congressmen have been preaching affordable housing for years.
maybe just maybe, democrats and republicans talk differently but act the same..
@@jude4291 surprise surprise. Great to see someone else sees that.
It's expensive purposely
Zoning and the voters voting against rezoning for affordable housing.
I don’t believe politicians are looking out for our best interest. Anyone who defends the democrat party is just lost.
We move, not because we couldn’t afford it. We moved because California is going down hill..Homeless, Crime, trash on all the roads, campsites up and down 280 and 101, cars being broken into and catalytic converters being stolen, fires every summer, every time it rains the power goes out.
Bitter non Californians
@@isaacjson I'm a bitter native Californian. Greedy outsiders and politicos f#$^ed up my state.
LGB sounds sad. Bummer.
LMAO when every city in the country faces these exact problems California is just expensive with avocado toast so the gentrified love complaining abt regular metropolitan shi
@@heavingearth6727 nonsense, not every city in the country faces these problems on this scale. the rest of your comment is unreadable.
I make six figures and can’t even afford to live in Sacramento today. It’s absolutely obscene.
You should be able to afford an apartment at least
@likexbread he doesn’t know how to control his finances that’s why. He’s at a deficit. Spends too much and doesn’t make enough.
@@Mrmudbone_gaming
Man, you guys are making a lot of assumptions about his finances! Medical issues? Taking care of a sick parent? But no, it's got to immediately be, "THIS GUY IS OUT OF CONTROL!" 😂🤣😂🤣😂🤣
@likexbread everybody’s situation is different. Still need a car or funds for transportation. May or may not have kids. Everybody’s wallet isn’t the same
No way. I only spend 2% of my income in housing for a large and nice private room 25 mins from downtown SF.
Left California in 2013.BEST DECISION I'VE EVER MADE!!
Bought my 2bedroom condo in 2020 for 70k 😂🤣😅 my mortgage payment is $300
per month. My stock dividend checks pay my association fees for the year. Electric bill averages 50 bucks a month. Gonna have this place payed off REAL QUICK!
Association fees cover water,garbage and heating.
When I pay this place off my property taxes and insurance are
$89 dollars per month. Nice.
Tired of being broke?
Move to Minnesota baby!
Much love. Peace
Did you buy the condo out there in MN or Cali?
Also how is the weather. I know it snows out there but is it drivable?
Cant buy cons for 70k in Cali
Cold cold cold
Not in Minneapolis. Worse hellhole than Portland.
They don’t mention that a $364k income gets you a shit quality of life in a city that’s not even safe to park your car in
Where in the world can you "park" in SF without getting a ticket?
@J C So true
I left 6 months ago and haven’t looked back. Best financial decision I’ve ever made. The bay will always have a place in my heart but it’s just not the bay I grew up in anymore.
Thank you for making this series. This is why we got pushed out to the far edges of contra costa from sf and living in Santa Clara for almost 50 years. Even out the market is so crazy we couldn’t afford to re-buy the house we bought 4 years ago.
Where in Coco county? We live in Walnut Creek, it’s expensive.
@@angiec8487 I loved Walnut Creek and miss Bay Area I grew up in Bay Area. I now live in Idaho. I could not afford to live in Bay Area now. I lived in San Mateo and Foster City
I am perplexed by this. I am a Home Inspector in South Alabama and many of the Home Inspections I have performed, have been from people who have moved from there.
You should get with the program. It’s insanely expensive in the Bay Area and California, that is why people move to Alabama for a better quality of life. It sounds like you view a 1970s stereotype of California back when it was affordable and easy to get a good job there.
@Andie Smith Unless they got inbred family there or an ironworker mentality, lol.
Awww where are the techies going to eat if folks in the hospitality industry can’t afford to live here?
They'll eat their own, that's how these things always turn out.
Many tech companies have there own cafeterias of food, and there’s many young adults and teens that will work those jobs because they don’t have to pay bills yet
People In the hospitality industry can’t even afford to live here, working at a fast food restaurant is financially unrealistic unless your a teen or your the manager
Living Wage to bring things back to reality.
Meal kits, ghost kitchen maybe.
I make almost $30/hr and can't afford to rent on my own. I have friends making 80k/year and the inly way they're affording to rent is splitting a house with 3 other people. North bay is fucked too don't get it twisted
Hah yeah , Teacher here in South Berkeley = home sick ( probably because Im so run down from Teaching these days } If my son was younger and still liviing with me I could NEVER afford to live and Teach here> As it is I live in 350 sq feet and with " rent control" its still getting close to 1,000 $ per month . I know so many younger Teachers with families who are going to quit and leave the bay area Ive always wondered where the Rich think the Teachers who will be Teaching their children are supposed to live? As it is many Teachers already are driving over an hour to get to school . We are so burnt out as it is..... Do they want working people to be flown here in helicopters from far away places we can actually afford to live?? Greed is destroying our culture in general and its clear especially here = Im from Northern California where there used to be a middle and working class = its hard not to feel bitter
@@sarahtiferet9025 the tears I cried when I went to see a rental in north bay that was maybe a whole 400sq ft, run down, no parking, local looney person outside, and a whopping $1450 a month. Being in your 20s trying to work and save while living in the bay feels fucking impossible somedays.
What’s the point of living there? Masochist heaven?
@@ElearningDigest lol fair point. But it is home now. So even tho it’s a trash pile sometimes, it’s our trash pile
Why do you want to live in the Bay Area?
don't forget about crimes and homeless issues
I left 2019 after living 40 plus years in SF bayarea.
I lived there for over 40 years myself. I left in 2017
Crime is everywhere Oakland San Francisco DC Detroit Little Rock Charlotte Chicago all of the major cities across the country are going through the same exact issues and I will not let the homeless be the reason I leave my city of my birth it's the people who are elected to office that should be held responsible the mayor and the feckless city council
Criminals: KEEP IT UP. This place is too expensive I need y’all to step it up and make this area less desirable to live so I can finally afford it. /s
I mean part of the homeless issue is the house prices (I mean there’s other reasons, but the prices are part of the reason)
I bet that’s one of the best decisions you made
I live in Palo Alto. It costs an arm and a leg to live here. However, I do think that it is a bit misleading to say that you need to earn $300K to live here. However, the state's taxes, fees, tuitions, tolls and general regulation has led to hyper-inflation in the state. EVERYTHING costs more in California....and the Bay Area is one of the most expensive places to live in California. It is doable -- but it might not be advisable.
...engineers do not make $300,000/yr. Married engineer couples are struggling to pay the mortgage here and I haven't even begun to mention child rearing costs.
$300,000/yr is household income, so if it's a engineer couple it's $150,000 each person. Doable, but still pretty insane.
they actually do. mid level engineers at top tech companies easily make $300k/yr in total compensation
@@saltysolly2448 That is a minority of yhe engineers. Also, you can't pay the mortgage with capital gains when they're tied up.
@@saltysolly2448 That's BS, as a Software Engineer with over 20 years experience, I barely break the 200k/yr mark. Recently interviewed with AWS, max they pay for a sr. .net developer is 210k.
@@eop9969 You get stock for another $100K a year which could be $200k if the stock doubles.. Tons of AWS engineers have made $500K a year for the last 10 years. Obviously it's getting harder and harder when the company grows. Now it's of course also possible that the stock declines...
Born and raised in the Silicon Valley, moved to Sacramento in 2020. 6 or 7 years ago this would have made a huge difference. But now, there are so many people who have been pushed out of the bay to surrounding areas that prices are rising everywhere. Planning on moving to Virginia or Georgia. Can’t stand this.
Remote working had lead to insane flux of rental prices in small towns across the country. Since someone who works remotely that makes even $100,000+ can move anywhere, they are moving into rentals way out in the middle of no where and finding competition against each other which is forcing rents to skyrocket all over the country.
Companies should lower pay for when tech workers move to cheaper areas. Some smaller cities are seeing huge rental increases.
@@commentor3485 The last thing we need are lower salaries and less incentives to live out in the boonies. What we really need are more residential buildings being built to actually meet the demand for housing.
@@AverageCho You do realize that its city slickers that are pricing out the rural areas. Look at cities that grew because of remote workers moving in. The locals can't afford to live there anymore. Please stay out of the "boonies".
1. I think part of the problem is also that a large percentage of houses owned here are by people/investors who don't live in CA. Most of these investors literally buy houses with cash and the people working in CA are left to compete with these cash offers.
2. Also heard of people owning more than 2 or 3 houses(properties), in addition to their primary house.
3. School zoning is not helping either. Good Schools areas get in bidding wars.
4. With Google ( in MV) , Apple ( in Cupertino), Nvidia & others (in Santa Clara), bay area is priced out from north (SF) to all the way south ( Gilroy ). East side (all the way to Oakland) is now no longer affordable).
5. Pandemic has if anything, spread the remote working class to the outskirts of the bay area ( Tracy, Livermore, Stockton) making these places unfortunately competitive too. But this migration of workers has not taken away the housing demand in silicon valley, as there is still the requirement for these workers to return to work soon.
I don’t know of any homes being owned by people who don’t live in the Bay Area but I do know of several neighbors who are holding second and even third Bay Area properties but they’re spending most of their time in just one of their Bay Area properties. I think they’re doing this because they believe it’s an investment.
The issue ultimately is supply. Californian cities as a whole had been largely suppressing the housing supply through zoning restrictions which makes it impossible for the housing supply to keep up with job growth. Zoning needs to be liberalized so housing can actually be built to meet demand.
so what? they own homes in the south bay. Do you think you and the residents of the south bay are so important investors shouldn't be able to invest in the market? This is the problem. You people think your bigger than life because you work in silicon valley? News Flash - if silicon valley went away tomorrow, the stock market would be open, starbucks would be open and the rest of the frickin world would be open. Get over your self anointed worth. You are the problem!
There are lots of countries where you can’t own property if you aren’t a citizen or planning to permanently immigrate. I don’t see why Bay Area can’t adopt those laws too
@@burntfrootloop4073 Because the Bay Area is not a country. And this isn't an issue of property ownership, it's an issue of insufficient unoccupied properties. Just because you don't own doesn't mean you can't rent.
I got my house back in 2004 when $530k was a crazy price. Now, it's almost $1 mil. People just have to stop the bidding war. Because of the bidding war, the price goes up. Because the price/value goes up, the rent goes up. Even your real estate agent tells you to overbid $100k, just DON'T.
FLIPPERS, DEVELOPERS, FOREIGNERS ARE ALSO INVOLVED IN BIDDING ESP. FOR PRIME LAND & LOCATIONS & MANY CAN AFFORD TO PAY IN CASH LEAVING THE REST OF US OUT OF THE LOOP.
No no no your wrong its your damn government
@@daddy3048
GET YOUR HEAD OUT FROM YOUR ___
SIMPLY, YOU'RE NOT PAYING ATTENTION BC YOU'D KNOW THAT "YOUR" GOV'T ISN'T OPERATING BY AMERICANS INSTEAD IT'S RUN BY THE COUNCIL OF FOREIGN AFFAIRS, TRILATERAL COMMISSION ET AL. & OLD MEN WHO LIKE TO RUN THRU THE FOREST BUTT NAKED THEN WEAR SUITS TO YEARLY SUMMITS DECIDING YOUR FATE FROM THE LIKES OF THE KLAUS SCHWABS OF THE WORLD.
@@merceddominguez2170 son go back to room and do more research
So it was OK for you to pay “a crazy price”, but not new buyers
Not in Frisco. Earthquake is a major concern as well as crime and homelessness.
Grew up in Campbell. Moved out of Campbell ten years ago best effing move ever! 🥳
As a person that grew UP in the bay area for 25 Years, I was only able to accumulate wealth when I left. Never looked back and have a paid off home, wealth saved for my Children.
This is why we moved out of the bay area. We live in Northern California 2 hours from the Oregon border. My husband is a heavy equipment operator and he's the only income. We bought a 3 bedroom 1 bath home with a decent sized backyard for 164,000 and our house payment is 1200 a month. We make decent money and it's still tough sometimes. California is ridiculously expensive..
I agree hella expensive
Better get an income of your OWN and not just relying on "husband". You never know what might happen
Ty for the suggestion ☺️
Yea your fucked with just one income
@@xalvinthegreat5626At the moment I wouldn't say she's fucked. Just way to comfy and confident in what "husband" makes and nothing going on for herself and the family as a whole. No contribution but just being a wife. That's a no go in today's world.
Soooo funny how it took sooooooo long for people to catch onto this. Bay Area gov reps sold the Bay Area to tech companies 20 years ago and now you can’t live there unless you work in tech. It was nice SF, you were the best and you will be missed.
Tech companies are importing cheap Indian tech workers who also need housing.
@@davidjasso178 H1B visa workers live 4 roommates in an apartment. 😂 Those guys know how to adapt coming from the 3rd world
You think the tech companies are benefitting from this? It was the people who had the land and houses originally before the tech people came that got the most money. And those people are the Bay Area gov reps and their associates.
zoning laws preferring single family unit housing vs high density housing is the reason why housing is so expensive in the bay area. Lack of space in SF specifically necessitates large high density housing structures like Hong Kong.
Preach. Not even hong kong-level density is needed. Just build like Tokyo or Seoul and problem will be solved in just a few years.
Nobody wants a shitty multi family building in there back yard. The last thing anyone wants is to turn a beautiful city like San Francisco into Hong Kong. Oh, by the way, even with all the multi family units in Hong Kong, it’s still expensive as hell to live there. More Multi family units is not a solution.
@@anonymouscitizen2732 Oh great, here come the NIMBYs.
It's expensive because the hong kong government owns all the land, and they make a lot of their money from slowly renting to developers, but not too fast, so that they can keep prices high. A better example is Tokyo or Seoul, where the housing market is much more free.
And the reason why so many people can't afford to live in SF and end up homeless is because nobody wants more housing "in their backyard". Well guess what? If you don't want multifamily in your backyard, then don't live a city! NIMBYs want it both ways. Either live in a city or don't. Putting 1 housing unit on a big lawn then running to the city council to restrict housing for everyone else is not how you run a city. This is madness.
@@WhatIsThis-zq4hk it’s going take a hell of a lot more than one front yard of realists to fill the demand for new housing. Until you become a property owner, let the big boys decide the fate of there real-estate. By the way, 100% government control over our real-state is exactly what the dems want, they want to turn this place into Hong Kong.
@@anonymouscitizen2732 You're not getting it. I am arguing AGAINST government regulation. I am arguing FOR property owners to build what they want on their property. I am PRO free market. I want LESS government control over people's property. Right now, city councils have an encyclopedia of regulations and zoning laws that make it extremely difficult for developers to build more housing units. Why don't you take your own advice and stop supporting regulations that limit what property owners/developers can build on THEIR land.
You whine about evil dems controlling your real estate, but you have no problem controlling other people's real estate if you don't like what they are doing.
A lot of people moving to the Sacramento region especially rocklin and Roseville very well suited for families
Yes, I am now able to work remotely 100% of the time. I could sell my San Francisco house for almost $2 million and move to Sacramento. In Sacramento, I could pay the house off in full and still have over $700,000 in the bank. The cost of living is cheaper there and so are the property taxes. I would be able to save all of my income for retirement. I am still 18 years away from retirement. I have a pension and several million already saved. I would be able to retire early in Sacramento. I could avoid the homelessness, crime, traffic, exorbitant parking fees, taxes and rude people simply by moving. It seems like a win win scenario. The biggest perk is that my wife would no longer need to work anymore. Now, I just need to convince her to leave San Francisco.
Maybe for the next 3 years until the sworm migrates
@@mocheen4837 yes I guess if it's worth it being in the middle of nowhere valley and it's hot as hell also there's plenty of homeless and rude people in Sacramento it's always been a dirty place
Congratulations I hope you all live well stay friends and stay safe!
This is seriously depressing me. I got to leave this state if I ever want to buy a home.
I moved out of my Sonoma county home I lived in since I was 12. I could no longer afford to stay. Everything had gotten SO expensive, even with the good money I made with my business. I found a brand new home in Northern Arizona for $299k and am semi-retired. No more stress, because it's so much more affordable. Plus the 'leaders' of California are off their rocker and it'll only get worse.
Yeah northern Arizona sounds boring 😴
I had to move away from the Bay Area because it was just too expensive for one thing and way too crowded for another thing. It’s just a sad thing but it’s true and I know that I will get a few rude comments and I look forward to hearing from you
No negative comment here. My first time in the Bay I was getting by on 18/hr in downtown Oakland. Left in '12 and came back in '17 and couldn't believe the spike in rental prices. Also noticed the spike of people that moved here. Used to be no traffic at certain times of the day and night. Now it's constant. I for one can't wait to leave again.. for good.
Bitter people
@@isaacjson your bitter, nobody can afford the bay
It’s so expensive, people that are in tech are lucky that they make so much money, it’s so hard to make it unless your living with family or living with your bf/gf
you almost never hear anyone defending the place, not anyone you can take seriously, at any rate.
I make $80K a year here at BA. I can't not even afford a dog house around here.😡
I make $10 an hour in San Francisco and work 100h a week. I live in my car. What a great city.
@@RedLineShortFilms bullshit.
5 Fig Gang!!
@@hydrobuu It's true, ask any dasher or uber driver in SF. A lot of them live in their car
Every time I think about the wage level difference between different jobs here in Bay Area is insane. I am in non-tech design field and my starting wage is around 50k a year and it takes almost 10 years to reach to a 150k! But for tech people, 150k is probably their one month salary. Sigh…it’s so hard to live in the Bay Area as a regular people.
Spend 2 years with 2 or 3 roommates splitting the costs. Save up your money. Get you a "special other" who's an earner like you. Buy a house in East Oakland or Hayward, even Stockton. There's always a way Calvin. Be flexible.
Tech companies are importing cheap Indian tech workers who also need housing.
People don't want to pay a living wage anymore for specialized work that requires more education that high school.
I think part of the reason housing (including rent) is so expensive in many cities in CA is due to regulations. I heard it takes 10 years to get a building permit in CA. Many transplants especially those who work in IT came there for tech jobs. Other factors include greed, increase in property taxes and so forth.
Building permits are issued by local governments. In the city where I live it takes a lot less than 10 years to get a building permit.
In the bay area homeowners vote against any new housing developments so that supply remains low thus raising their own housing prices. My grandfather bought a house for 2x his salary in the 60's. Today it's 10x-20x if you make (50-100k)
And houses can be printed in days lol wow what a joke gov is
3d printed that is lol
Not just regulations but the residents don't want more housing. Lower supply drives up demand which equals higher property values. We call those people NIMBY's (not in my back yard).
With a Masters degree teaching in higher ed, I earn 59k! This makes me want to cry.
Where do you teach? You should either teach in a more affluent suburb or switch professions. $59K with a masters is criminally low.
I only pay $700 a month for a large private room with private bath 25 mins from SF, in San Leandro. That’s less than $10k a year for housing. TC 500K (including RSU)
@@soutinefan There are nice parts in San Leandro. I have my own room and it's nice to have people living under the same roof especially during covid
Anywhere else in the country and if you teach English in some other countries you can enjoy a much better earning to cost of living ratio. Not mention quality of life would be a world apart. If you are female your options are even better
Check out private schools in your area and apply for jobs there. Principals make a bit more money. Just apply and see what happens.
I'm a mail carrier in tx making around $50,000 (about 60 with overtime) a year living in a houston middle-class suburb, obviously I'm not rich but all of my bills get paid when due, ALL my needs are satisfied and for the most part I get my wants. Thats making between 50-60,000/yr... what the hell is going on in Cali??
Things will get more expensive when all the Californians move in.
@@YA-qj8fx thats what I keep hearing, lol... I was planning to move to North Carolina sometime in the future anyway
Same thing that's happening in Austin. Tech moves in, pays high salaries, pushes out anyone making less
My high school use to have close to 900 students in when I went graduated in 2005. It now has less than 400. The school district may have to try to join the Richmond School District, turn private, or close.
The jig is up on home ownership. There was a one time opportunity when the market fell flat in 08-09. Certain people were PAYING ATTENTION. Homes were bieng scooped up by outside investors b/c properties were at low level prices. After the pandemic hit, the expectation was prices would go down since the economy went down, but a lot of people continued in the homes they paid low levels for 10 years ago or have been selling them off way over asking price which is pushing prices higher. From what I understand, there are currently actual tour buses specifically geared for investors that tour the Bay Area to scout out available properties. The Bay Area is for sale, but not for family home ownership. 😐
You’re 100% correct
This is what happens in a booming tech economy. The cost of living goes way up and people get squeezed out.
At least in the Bay Area there is BART so you might be able to live without a car. Its sad that any city in America
is so hard and expensive to live in. Why do you think there are so many homeless on the streets. Some of them
would have college degrees, you know. Not every person on the street was troubled all their lives. Not at all.
The smart people who get pushed out move to an area where they can afford to live
I am almost 50 and wonder if I can afford to live here when I retire in 20 years
Invest in 20 years be fine
Forget it
@@isaacjson Not worth it when you consider the cost of living
You should move, it’s not realistic to retire here
no lie, you need an escape plan. now. the 'joke' is people return from gummint work and take their pensions to move somewhere they can afford. then you hear about the amazingly successful way CA in general is run (anyone who believes that needs more research and read between the lines) and how it's got aaallll this money in surplus. really, how can you have a surplus of billions when you're on the hook for unfunded pensions to the tune of almost a trillion dollars?
Moved a year ago - bought a house and paid off student loans with the money I saved. Get out of SF!
Yep. San Francisco is collapsing.
Where too? I’m trying to move as well
@@user-pv3rl2lv4p New Mexico! Have family here and cost of living is the opposite of SF in every way.
@@jonkerwin Good for you!
The question is how hard do you have to work to make living comfortably.
I honestly dont get it. Life shouldnt be all about work. I worked 80-90 hours in some weeks and I felt burnt out. There is more to life than working.
@@dlcmiamiinc Completely agree!
It's not about working anymore. It's about luck
@@dlcmiamiinc that problem is you guys dont respect hard work. Its the discipline that comes with it that humbles you. Easy work makes you a spoiled entitlement mentality.
I make 50$ an hour out here… still working 12/13 hour days..
I make 75k working as a Lead Project Manager, and I can attest.. it’s quite tough
Shit I make 90k as a fedex ground driver and its tough.
@@DonJulio510 90k?? that doesn't sound right.
@@Kentrantran yeah should be higher
@@DonJulio510 lol, no man. It is ~$21/hour as a fedex driver. How do you make 90k with that rate?
@@Kentrantran maybe for fedex express drivers but for ground its $200 salary a day plus $1.30 per stop when we go over 130 stops. I usually do about 220 stops a day( on average sometimes more sometimes less ) which equals to $317 a day but mind you I usually work 6 days a week.
as an asian there is ZERO chance i'd live there. Break ins, assaults, shootings, etc.... it's horrible
Great. About to move there for work and ... great.
There's a lot of Asians here. It's a safe place for Asians
@@halifaxx55 a baby asian got killed by a stray bullet days ago
SF is not safe anymore smh
halifaxx55 And communism and islam are religions of peace 👌🏻
Tras de ladrón, bufón.
A NEW apartment here in downtown Sacramento..... is going for 3000$!!!!! A studio!!!!
When taxpayer votes don't count.
No way wow that's crazy
How do the grocery workers even do it ????!!! I’m in Chicago I barely make 22 an hour and this is insane!
Minimum wage in SF is 17$/h. We typically rent three bedrooms together so it's less than 1,400$ a person. I live in Castro district and pay 1000$ a month. I make about 2,600.
They do it because they have or share rent with roommates that want that big tech job/break. That's how they do it. Also college students do they same with a 9-5 or part time job, w/ a car payment on top. Unless your a foreign exchange student.
@@senna6774 I make $45,000 a year and live in a decent, but older house. If I lived in California, I would be homeless. I could $50k a year and every day after work, I would have to live in the street. That's unbelievable. Absolutely insane.
@@chaosXP3RT Just saying how we do it tbh. We just live together.
It’s called “hacker hotel” - small rental homes with 4 bunk beds crammed into each room. Basically prison conditions but you’re free to come and go at will. Otherwise, pitch a tent off the 101.
I remember 09 my dad bought a house for 40k in richmond ca invested 50k ( needed to remodeling and repair ) and now his house is worth almost 300k. I still cant believe how cheap it was in richmond back in 09... They're were giving away the house for free.
because home building slowed to a trickle after the 08 crash and never recovered. Now theres too much demand, (low interest rates) and low supply ( retiring boomers are living longer and they're not moving or downsizing as predicted, they stay put).
@@mrparts Exactly 💯. If my parent sell there house and try to rent on a different property it would be too high and wouldnt be worth it
Corporate greed has priced out many Americans with just about everything.
All politics aside you are absolutely correct! I just can’t see why not all political spectrums can come in agreement about this.👍
Sadly if this keeps up, the people that can afford to purchase homes and “live comfortably” will have the biggest targets on their backs, and become the victims.
How in the world does "corporate greed" play a role in housing prices? LOL
I wasn't asleep in Economics class. This is a supply and demand issue. Tech jobs are driving demand. But the local governments and NIMBY's won't build more housing. You have to balance both.
Meanwhile, Uncle Joe could increase interest rates by 2% and cool everything down - the housing market, the stock market, etc. Everything is too frothy.
@@crabkilla Housing costs are skyrocketing in places because the politicians there allow for new office space for its tax revenue, but refuse to permit housing or make it so the permit is unaffordable. That makes the homes that are already built to become more expensive. Plus corporations set the prices on everything needed to build a house.
@@river13 Not true Jim - supply and demand set the price for everything. If you know of some price-fixing, there is whistleblower money to be had.
Government and politicians control all aspects of development - what can be built, how much, and where. Not corporations, not people. So if there is not enough housing or housing is too expensive, then it is the government's fault.
I love living in San Mateo, but I can only afford to live here because I bought my house decades ago when housing was cheap. Plus, my property taxes are low thanks to Prop. 13. Prices are high because of a thriving economy and a severe shortage of housing. The Bay Area is extremely confined by geography. It mostly consists of water and mountains. Nearly all the land flat enough to build on has already been developed. It is time for many of these high paying jobs to move to other cities that still have room to expand.
Also many firms are buying up properties en masse to drive up the prices and to control supply. There's also a lot of foreign investors using housing to hedge assets driving out locals. Combine that with the housing that is being built that just gets used as "luxury living" so the property owners can maximize their profits. There's so many more factors in play than simple supply and demand.
Ah...youre one of those that bought before 1985...nice, me too
@@ggstatertots that's exactly the only reasons why housing is still going up in the bay area and overall in California, foreign buyers and hedge funds black rock and Co. All the other explanations like thriving economy and lack of land put out there by those called experts and this very media is lies just to keep the housing market heating up even more they are also benefiting somehow from it or we dig more I won't be surprised to find out they get paid to spread these ideas. If our local elected really work for the people they should pass a low banning corporations and foreign investors buying "single Family " houses which are supposedly called so for a reason.
Thanks to the Republicans for Prop 13.
@@Lexethan2011 Prop. 13 was passed by the voters in 1978. I don't think it would have passed if only Republicans voted for it.
The trend I see is consistent flux of very talented people around the world come to Bay Area to work hard for 10 years and then move out to somewhere else with enough wealth to live comfortably when they want to focus on other things in their lives. It feels more like a factory rather than a community.
Tech companies are importing cheap Indian tech workers who also need housing.
So... If only rich people can afford to live there who will work as teachers, cooks, cleaners, mechanics, police officers, etc?
Is it safe to say the only people who have to commute are the middle/lower classes? Remote work as a status symbol
I left for Fresno and moved into the Tower District / near downtown Fresno. Best decision I have made going 1 year and a half strong! Remote work and remote university changed the game. Plus I get to keep my california salary and live in more affordable Fresno.
@@imd1b4u they stay indoors with ac on. Not saying that's a good thing. I'd rather be out in my yard.
@@imd1b4u Pretty good better than when I stayed in Austin Texas for 3 months or Phoenix one summer as well. There is no humidity which is what I worry more about. I have solar powered AC so its free for me and used the California EV incentive to get my Tesla a while back which also has AC. I suppose I could pull out my neck fan or anti-heat polo shirts I got while in Dubai which was scorching hot. Californian beaches are only 2 hours away which doesnt matter if your not driving haha or taking turns 😎
How is the Bay Area going to function when there are no places for anyone working in service or retail jobs to live? What will happen when there are no longer any custodians or other cleaning staff because there are no places they can afford to live?
They'll just have to be paid whatever it takes to keep then working here
That's why I choose to work and live in the midwest. I can payoff my 3000+ sqft house in 5 years; while in Bay Area, it's gonna be 30 years.
I make $170000 a year and can’t afford a home. My significant other doesn’t work and we are barely surviving.
That’s a lie your 170k is a lot your a liar .
seen too many alike, schools don’t teach people know manage money
@@sydewayzsn9562 170k minus tax = 80k poor
@@isaacjson it’s actually more like $136,000 after taxes still not a lot tho
@@sydewayzsn9562. Not to afford to live where I grew up. I could travel hours away of course and afford it. But who wants to commute hours a day?
Haha back in 92 my 1st was $4.25 an hour 🥳 had a roommate we lived great
The Bay Area will never be affordable. Period.
It can be if NIMBYs stop forcing most of the land to be zoned for single family homes and lawns. This problem is totally preventable. It's supply and demand.
I’m moving to Walnut Creek because I can afford to do so I’m 25 and I’m tired of the shit in Oakland that’s happening. People are dying every day slum lords are something of the current phase of Oakland….. and I’m tired of the issues in the black community that shit isn’t changing. It’s only touching lives at a greater length.
That is all part of the BLM movement. Crime is running rampant but the police have their hands tied.
@@mocheen4837 okay I'll play along =LOL! Poor pathetic Troll = BLM?? try again how much $ are you making from my comment I actually feel sorry for you = nah just kidding
@@mocheen4837 Its from Budget cuts as the city lost revenue but you knew that
Facts. I'm currently in the rising up program which is financial help for Frisco youth natives trying to afford housing in the bay. They deadass keep recommending east Oakland apartments and I'm like nah fam I'm straight. Me and my brother have 50k collectively through our subsidiaries and all the program can do is recommend cheap apartments in Oakland. Ain't no way I'm moving there.
?? Walnut is a extremely upper class area. Doesn't sound like your a victim of any sort. 😂😂
I left the Bay Area 7 years ago. I made $32,000 last year. I’m a disabled small business owner. Renting a room in Concord California my home town is costing $1,850 a month for a single room. Everyone in California I know has either moved out of state, or still lives with their parents.
My apartment in Baltimore, is a huge 3 bedroom apartment for $1,500 a month. Internet included. We only pay for gas & electric.
California I visit to see family but every time I go back to California it’s more and more of a joke.
California is not for the poor, or disabled like me and I like my independence I love my parents but they’re Jehovah Witnesses and would drive me crazy.
I grew up in San Mateo California. I don't live there any longer moved away 10 years ago. My two sisters still live there and barely survive financially.
Is this income take home pay or total comp?
Just to make up for inflation just this last year we had to increase our labor rate we charge customers 24%
From $150 an hour to $185 an hour. And the same with our parts and materials and products price increase.
And as the price of product materials we’re doing business and living here over the next several more months we might have to do a price increase again monitoring the pulse of the money
I'm a hvac technician. We have to do the same. And finding parts on time or at all is hard.
@@joshcardone1836 yes finding parts has become very difficult and time-consuming and that adds cost or losses to a job just to acquire the parts because of supply shortages.
At the beginning of the supply shortages caused by Covid actually Covid did not cause it our government and the way they handled it did.
We used to eat and absorb the losses of acquiring part shortages with the time taken to travel or phone calls but now we even charge that extra to acquire parts, charging to our customers job we will no longer eat that cost.
A $70,000 job is now over $100,000+ And up. Good going government on shutting down and bankrupting a large percentage of your population.
@@coldfinger459sub0 you speak truth, and its getting worse.
Maybe make multi family house a thing and a denser housing. Maybe also make renter protection stronger and better so not everyone needs to own their own homes.
Bay Area drama: no parking, cut-throat drivers in traffic, homeless everywhere, no affordable homes, decline in school enrollment for children, pedestrians deaths, stray bullets, soon to be vax cards, high rent, insane home prices; alright everyone, fill in the rest:
Bad weather, which is why some from sf and berk move to Los Angeles, and more specifically, Westwood and Santa Monica, and enjoy life much more
Its California
Keep on voting Democratic
WHY DO PEOPLE STILL MOVE TO THE BAY AREA & KNOW ALL OF THIS?!?
@@alexlopez5800 people get bribed in w/ a promise of a 100k plus salary. It's true for most, but everything else is expensive as well. Wait to you see the bills on daycare.
Housing prices remain high showing that people do still want to live there
California has good weather
You have to ask yourself. Is it really worth living in the bay area? If the answer is yes, then make it happen.
Well said.
Human feces, discarded heroin needles, the smell of urine, and never ending repair of car windows sounds Soooooo enticing!
@@YA-qj8fx that's just in cities sf,sj,oak, Richmond that are grimey and shady and packed but besides that Bay is beautiful if you are 30 plus and didn't buy when it was still reasonable that your fault I envy people who were adults with income back in 2011-2015 that had the chance to but but didn't, I blame everyone who is older than me for not taking part in housing market so many middle class people would be set now if they had just gotten their shit together and didn't take it for granted I was a teenager in the hood then and even I could see price raising coming with tech boom I would tell everyone in the hood to buy but non one listened we have to take accountability for ourselves for not valuing our own home until someone else did
@@Mansmokesalot Beautiful, but crime ridden and overrated.
@@YA-qj8fx I live in peninsula East Palo Alto and it’s super chill over here I have left my car unlocked by accident and shit still don’t get stolen no bipping over here like I said it’s only in the cities with high population
You make over 150k or even 200k a year and your mortgage is sucking up over 75% of your income. You then left with nothing for anything. I see too many cash strapped cash poor home owners. No thanks. And who wants to live in a homeless infested neighborhoods? Or hoods?
Own nothing and be happy when you die you don’t take nothing
That is why people in the Bay Area are so unhappy and grouchy. Look at the way that people drive. Crime is rampant and homelessness is at an all time high. The BLM movement has destroyed the East Bay. The Bay is no longer a desirable place to live.
@@mocheen4837 One of my co-worker just paid 1 mil for a house in Hayward. He's already planning to spend his entire bonus from next year to fix his roof. Needless to say, he now has zero savings and can only hope he can get by this winter from a leaky roof. His has stopped his 401k retirement contribution all together. Another one of my coworker paid over 1 mil for a 2/2 aged condo in Redwood City. They have no money for everything else while they pour their entire paychecks on mortgage. They both have something in common, young (20-30ish, and fear of missing out FOMO).
@@JDM-gx8ki I can't agree with you more. Sometime owning less is happier.
Lots of people are moving a little further. Check out " 5 things I like about Mountain House, Ca " Great community, great homes and schools. Yes, it will add some commute time but everything has pros and cons...
Awesome. I currently pay $2500 for a “luxury” 1 bedroom apartment during. Which I willingly stretch at the higher end of my budget for the amenities. Looking at the current prices now it looks like by the time my lease is up I will be looking at $2800 a month for the same place. Which also means I will probably be moving out in 6 months. Absolutely ridiculous.
How worth it are those amenities? Something to consider, in what they might cost you in terms of having to move away?
@@ALinn-vr3nl honestly there are pretty decent amenities (gym, pool, underground parking, rooftop deck) its all nice but seldom used. I care more for the modern apartment layouts, appliances and location than the amenities. But you're are not going to find a new/modern apartment that doesn't include all the nice amenities to cut the cost you would want to forgo if that makes sense.
:/
A problem they don't mention is the fact that schools teach people how to work for others. Very few of those people become entrepreneurs, and those that do weren't taught that in school. The best way to build generational wealth is to build a business and don't stop there.
Welp. I guess I'm buying in Stockton.
Bought a 3 bed/2 bath in Stockton last year for $253k. Wanted to stay in Oakland but was aware and realistic enough to recognize the writing on the wall and I wanted to be a homeowner, not spend all my money every month making someone else rich. It's actually been pretty cool so far, go for it.
@@glong86 good for you, my wife and I was looking out there Tracy, Patterson, Manteca. We eventually just bought a condo for 349k in East Vallejo. Quiet area, it's only our condos that neighbors the area and then CHP down the street. And a private high school. But same tired of paying someone else's mortgage
That's why I moved 35 miles south off of the San Tomas Expressway exit
So depressing. I Still live in SF (and have for the last 30 years) but i know it is only a matter of time before this city spits me out too. Only to replace me with one of the tech drones making 5x my salary. My roots go back to the 1870's in SF and now to barely be able to exist working a normal job.... We have been bought and sold by greedy politicians and big tech without having any say in whether or not we actually wanted any of it. I know you cant stop progress but progress is not always the way to go if it decimates its communities in the process.
My family in SF goes back just as far on one side. We got pushed out in the early 2000's. Nice pay-off selling out, but doesn't go too far if you stay in the nicer parts of the bay. Good luck, I hope it's still a cool place to live while you can.
Time a new place for roots I guess
The majority of tech workers do not make 300K a year. Maybe some Senior Managers and founders at tech companies make that much.
🎯❗️Well said. Native San Franciscan here, now 58. Absolutely appalled at how filthy (and crowded) my birthplace has become. I left in 2010 and moved to Point Reyes (I LOVED it there!), now in Alameda for a few years. The weather is good, but it’s quickly getting more crowded here…and it’s WAY TOO FLAT for my liking. When you’re an active person (former gymnast and professional dancer who loves hiking 🥾), living in the flatlands makes one REALLY miss the hills/hillsides. I’m now ready to leave the country (Canada or France).
Wishing you and everyone who’s struggling to survive (and have a truly decent quality of life) the very best. 💫
I work in San Francisco and make close to 500K with RSU. But I only pay $700 a month for a large private room with private bath 25 mins from SF, in San Leandro
Banks do not want to sell you a house. They want to sell you a mortgage.
I am now retired. Had to sell my home. It was a older home. Started to have major problems all at once that I couldn't afford on my retirement salary. Sold my house. I am renting a 2 bedroom for $4100 a month. Can't stay long. I am going to have to find someplace to retire. Too bad, I was born here.
In NJ my property tax is about the same as my mortgage. The workers at the municipal office are very rude and clearly annoyed to provide you with any services.
Upstate NY is very high too. The crappier the city, the higher the tax rate (but property is worth less, you could still pay alot).
There’s a well known problem of regulations stifling efforts to increase the housing supply to reduce prices. Supply and demand problem.