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Thread: Things that made you frown today (Political Version)

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    Quote Originally Posted by cwolff View Post
    As for the real estate prices I guess that's just the way the cookie crumbles. Perhaps employers there can set up "man camps". LOL
    Vulture capitalism.

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    Quote Originally Posted by time4fun View Post
    Candidly, for this area that's a pretty typical price for a 1400 sq ft house in Silicon Valley. I don't live right across from MPK, but that's what houses in my area cost too. A bit more than that actually.
    But you could also go across the bridge a few extra miles and find 1400sf for 800k. Not every neighborhood is affordable for everyone.

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    Quote Originally Posted by drauz View Post
    But you could also go across the bridge a few extra miles and find 1400sf for 800k. Not every neighborhood is affordable for everyone.
    You'd definitely have to go farther than just a few miles, but I agree with your sentiment here. I really do. Living in this area so close to public transportation and both of our jobs is a massive privilege, even if we don't have $300k lying around to put a down payment on a home in our immediate area.

    My only point was that $1.5m for a 1400 sq ft house is far from atypical for the heart of Silicon Valley. Given that house is across the street from MPK, it will end up going for 1.7 whereas it might only go for 1.6 five miles away. (Homes in this area almost never sell for asking)

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    Quote Originally Posted by Realize View Post
    Agreed but I saved like a fiend and delayed marriage and life in general but with this massive equity bubble everything is for shit.

    And you know, I don’t know how old you are but it’s PB’s generation that really fucked this awesome country. The baby boomers effectively stole their unborn kids credit card and front loaded their living standard, asset bubble after asset bubble it’s absolutely insane but I guess it’s genius in one way. By the time the ‘bill comes due’ it will be the millenials that will have to pay for 3 generations worth of gaudy excess, these baby boomers will be long dead. Heck, theres that retarded quote by another old timer here who uses it as his handle, it goes “if you die owing money, you win!” NO SIR, your kids end up paying for it!
    So this isn't going to be a super popular opinion, and I want to disclaim here that we don't have kids. And kids are a massive drain on finances in a way that can't be overstated, and about which I can genuinely only surmise. And I really can't imagine how hard it is to raise a kid in the Bay Area on "only" (gag) a low six figure salary. We have friends making 3x that who are struggling to pay their bills.

    Having said that- my boyfriend and I get into this conversation a lot. He'll start complaining about the fact that we don't have $300k lying around to put a down payment on a house. And that must mean that we aren't really that well off because he sees the people who paid cash for the $3m house next door. And I always push back hard on that notion because not being able to afford a house in the Bay Area isn't necessarily the same thing as being lower middle class or even "just" solidly middle class.

    Presumably your kids have great benefits because of your job. You're not watching them get sick and having to choose between paying rent this month and taking them to the doctor. And the older kid doesn't have to make excuses for the younger kid to explain why the utilities are cut off again. And it's likely that there's food on the table, and that's never in question. And they can get back to school clothes every year and not have to wear the same clothes until they're practically falling off. And the schools around you have enough funding for books and some computers and guidance counselors who actually know how to write a college application. And you're not scared every month that you're going to end up on the street because you can't make the rent.

    I'm making a lot of assumptions here, and feel free to tell me if I'm just dead wrong. But your kids are spared all of those things that the former poor kids reading this post vividly remember from their childhood. It's not the same life as it is for a lot of kids living in families who can't afford to buy a house in their area.

    Life is weird here. And there are some really important things that are just monopoly money expensive. But there are a lot of other things that are still (relatively) normally priced. And even six figures is still six figures, and it's still far from poor. So it still rates on the Fortunate scale.

    And absolutely feel free to correct me on the significant assumptions I made in this post.
    Last edited by time4fun; 04-19-2018 at 11:40 PM.

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    Quote Originally Posted by cwolff View Post
    Definitely agree about the Boomers. Worst generation ever.

    As for the real estate prices I guess that's just the way the cookie crumbles. Perhaps employers there can set up "man camps". LOL
    Or we could start exploiting our natural resources thus reducing the cost of raw materials needed to manufacture homes. Then we could free up federal lands under a homestead act, under stipulations that you own no other property and you must construct a minimum of a 200 sq ft building and have a form of safe sewage disposal (I believe the original homestead act only required that you plant a tree.).


    The object of life is not to be on the side of the majority, but to escape finding oneself in the ranks of the insane. ~ Marcus Aurelius
    “It's a beautiful thing, the destruction of words.”
    ― George Orwell, 1984

    “The urge to shout filthy words at the top of his voice was as strong as ever.”
    ― George Orwell, 1984

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    Quote Originally Posted by time4fun View Post
    You'd definitely have to go farther than just a few miles, but I agree with your sentiment here. I really do. Living in this area so close to public transportation and both of our jobs is a massive privilege, even if we don't have $300k lying around to put a down payment on a home in our immediate area.

    My only point was that $1.5m for a 1400 sq ft house is far from atypical for the heart of Silicon Valley. Given that house is across the street from MPK, it will end up going for 1.7 whereas it might only go for 1.6 five miles away. (Homes in this area almost never sell for asking)
    https://www.zillow.com/homes/for_sal...28_rect/12_zm/

    Other side of the bridge from original house 400k cheaper and even looks better. Like 10-15 miles away

    This is the house from the original comments:

    https://www.zillow.com/homes/for_sal...61_rect/13_zm/
    Last edited by drauz; 04-20-2018 at 12:15 AM.

  7. #1057

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    Do all Jumbos require a 20% down payment? Is it possible to use a HELOC to cover the down pmnt or part of the down payment? I'd think there is some opportunity here. Stretch into a house and rent out rooms, or rent a home and jam as many people as possible in it to keep rents down. With the high salaries, bonuses and stock options there has to be a way to take advantage of the situation. Sacrifice comfort for some years and retire young in Montana, Colorado or another country. The advantage the tech employees in CA have is a big income and an analytical brain. Exploit that.

    Check out this guy for inspiration. He's in Fort Collins and has turned his frugality into big business.

    https://www.mrmoneymustache.com/
    Last edited by cwolff; 04-19-2018 at 11:51 PM.

  8. #1058

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    Quote Originally Posted by Neveragain View Post
    Or we could start exploiting our natural resources thus reducing the cost of raw materials needed to manufacture homes. Then we could free up federal lands under a homestead act, under stipulations that you own no other property and you must construct a minimum of a 200 sq ft building and have a form of safe sewage disposal (I believe the original homestead act only required that you plant a tree.).
    It's not the cost of materials that makes home ownership in Silicon Valley problematic.

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    Get a 6 figure salary in a part of the country where it’s not crap. Boom, problem solved.

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    Quote Originally Posted by drauz View Post
    https://www.zillow.com/homes/for_sal...28_rect/12_zm/

    This is from the house pictured in the original comment. Other side of the bridge 400k cheaper and even looks better. Like 10-15 miles away

    This is the house from the original comments.

    https://www.zillow.com/homes/for_sal...61_rect/13_zm/
    Yeah, Newark is a 90 minute to 2 hour commute if you work in the city.

    Each way.

    This is a heavily populated urban area. 15 miles is a big deal for quality of life. And that house is not going to sell for $800k. It's going to sell for at least $1m.

    And if you work in tech, for example, you probably work in the city. There aren't that many large tech companies (the ones that can pay what you need to make to buy a million dollar home) in Silicon Valley proper. And the ones that are there are mostly FANG. And they're not easy to get jobs at.

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