@@deflexion3677 if the company doesn't compensation enough for the high cost of living it's not worth it. unless you are already a highly paid professional.
@Airbus A350 The husband doesn’t have the type of job you can do remotely. Also, why Texas specifically? That’s so random. It’s not exactly a biotech hub.
before year 2000 houses in San Francisco was 200-250K .. . it was the rise of BIG tech that gave way to much higher prices cuz they can [ay their employees more due to zero over head...
Every time I see someone showing off their "sustainable" container homes, I'm like : "You do realize you're excessively proud of being so priced out of the market to only afford a recycled steel box right?"
To be fair, she is living in one of the most expensive neighborhood (near Financial District) in the most expensive city. It probably would take them less than 5 minutes to get to work, door-to-door.
If he's a scientist at a biotech company, it's unlikely his job would have been in SF proper. Most of those firms tend to be in South SF or the peninsula.
@@stuffykong there are plenty of biotech and healthcare companies in FiDi and SOMA as well as Mission Bay near UCSF. (Lot of these HC/Biotech firms have been filling up vacant spaces in central SF that other tech firms have moved out from last year because unlike regular tech or professional firms, these firms require lab space and WFH was not an option for them) In any case, commute won't take more than 15 mins.
@@long_fellow Well then they should have lived in Mission Bay which is super pleasant and has lots of things nearby, including Spark Social. Rincon is *not* a nice area at all.
I thought she says she works from home, so it takes her like 30 seconds to get to work. :-D either way, coming from China the chance to get a view of blue skies is probably worth the price.
People in low cost of living areas call SF people dumb for spending so much on rent and will say “why don’t they just come here where I pay $500” and then turn around and complain when tech workers actually do that and their cost of living goes up 😂😂😂😂
@@haute03 but people came to California years ago and made it unaffordable for the current residents as well. San Fran wasn’t always this expensive but big tech companies came in with high paying jobs and people moved in from other states and increased the cost of living...
This comment is SO STUPID. Are you really saying that people who CANT afford to pay higher rents are BEGGING people that can, to come live near them??? BAHAHAHAHAHAHA. No one wants you ANYWHERE in the Bay Area, like, go back home. PLEASE lol. Seriously, do you really think people paying $500 dollars a month for rent WANT to be around SF Techies and are saying, “why don’t they just come here?" You're so out of touch.
To qualify for an apartment that cost $3,850 (typically) you have to earn a combined yearly gross income of 40x the monthly rent $3,850 x 40 = $154,000 $154,000/2 = $77,000 per person Not unreasonable at all for most people working in SF/NY tech Granted you can find something in SF for cheaper with less amenities. Some prioritize saving for the future, some prioritize living in a nice building while working, both ok.
She killed me with the "not made for cooking" comment. My kitchen was smaller and no dish washer other than my wife and I. We cooked almost every meal never had an issue. First world problems for her.
Some people want yard, some don’t. You have a yard but they have an Equinox fitted gym, 24-hour concierge to accept packages, a roof top deck, a common WiFi equipped room - it’s about what works or not. I wouldn’t say they are wasting or burning their money - the convenience might let them sleep more, eat better, work out more frequently - which goes toward a better health, or free up extra time so they are working on side jobs, self dev, or investing.
Well, it's true. Why would anyone in their right mind pay $3,850 for a shoe box that looks like that? That landlord's cashing in HEAVY but it's understandable because most Americans have 0 financial education so they'd happily get ripped off. I can't wait to be a landlord for the first time this year and collect rent.
@@nonequivalence1864 because you can walk to your high paid job, don't have kids, don't need to buy a car, you live in a culture rich & vibrant city, and it's under 1/4 of their take home pay. I don't live there but those are reasons why people live in a city.
I actually live in the desert where we were able to buy our house cash. I work from home, have acres of space, enough room for multiple projects and I have attended more events, concerts etc since moving here. Also no homeless issues, very little crime and a community that was welcoming. Dont knock it until you try it. I also have a million dollar view from every room in my house. It's not for everyone but when people dis the rural/desert life, they often dont know what they are talking about.
When the six-figure jobs are in one place, everyone will fight to live closest to the office. That's supply & demand. Other regions in the country might have bigger properties for less. But it will be hard finding two six-figure jobs for a couple.
Not true, if you look in the job market at NEW 6 figure jobs, they always appear at rubbish tech companies that always fail in a few years. You just have to work hard in a company in other states to get promoted to a six figure job, hence why they don't advertise in these other states, cause they recruit internally.
And, let's be real, many companies with great equity potential are in that area. So it's not *really* about salaries. If it was, I wouldn't live in SF. It's all about that vested equity.
I don’t understand why people want to live in downtown SF. Literally nothing there except office buildings and it’s the most expensive part of the city. Other neighborhoods in SF have so many more amenities to offer (parks, beaches, more dining options) and it costs way less to live there.
I PRAY THAT WHO READ THIS AND INVEST WILL BE SUCCESSFUL, IF YOU WANT TO BE SUCCESSFUL HAVE THE MINDSET OF THE RICH, SPEND LESS AND INVEST MORE. DON'T GIVE UP YOUR DREAMS.
@@mpgleisten3 Mike, my point is you obviously have to have a fairly high IQ to have the intelligence and abilities to land a 6 figure job. It's astounding how that intelligence doesn't carry over to basic street smarts like apartment haggling
@@hubertcumberdale2651 how low do you think that neighborhood would go? Demand is HIGH and her company likely has a Sept return date for back to the office.
Spoken as someone who doesn't know the SF real estate market. If a building of people are paying for it, it's probably worth it (to a building worth of people).
The rent is not what surprises me. Luxury building, downtown SF, etc etc. What absolutely floored me was $450/month for parking. Max I ever paid per car, even in a big city, was $100!
I’ve roughly estimated it’s possible to live IN SF for $60k (you won’t be saving any money though). But its always possible to find housing that is far more reasonable (1-2k/month) if you’re willing to lengthen your commute to 30 minutes (East Bay, Sunset, etc.) and have roommates!
@@Ohh4udumn OMG... Yes!! He loves eating and goes crazy when I open a can of tuna and everyone calls him chunky. That is so crazy how you know him to a T! Is your cat a male as well?
@@Naturefan354 yes his name is Bandit, I got him from a friend when he was about 4 years old and he’s 15lbs! He prefers chicken legs from the garbage. It seems like cats with similar appearances have similar behaviors.
I don't know who, but someone actually needs to hear this, you've got to stop saving all your money. Venture into investing some, if you really want financial stability
Beautifully said, I tell my folks these words everyday. It's good to save money but most people don't understand the market moves and tend to be misled in facts like this and always depend on money in the bank.
I understand the fact tomorrow isn't promised to anyone, but investing today is a hard thing to do because i have no idea of how andthat where to invest in these?
@@brianhamm2733 Hey, this is a computer age. Peeps who aren't even traders make money from the crypto anjd forex markets ,how many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.
They probably do. Most big tech people have their income in longterm investments. The building won't accept someone with low income as they ask for paystubs.
The location of the building is 488 Folsom Street, San Francisco, CA. Monthly HOA fee for one-bedroom condo costs $1,625 per month. The property is right next to the exit ramp of the freeway.
$600/month extra just for a higher floor with a view? No thanks. I'll use that money to max out my Roth IRA. I can change my desktop wallpaper if I want a nice view.
That’s funny. I met some people who inherited property in SF their parents bought for a lot less back in the day. They were so set they worked for fun.
I feel happy for her! Throughout the video, she gave me the vibe that she is happy she made it and she is grateful about it. The rent is insane but life isn't all about saving. Enjoy the life with discipline.
I pay one-third of that amount for a similarly-sized two-bedroom apartment. SF prices are absolutely insane. And I assume parking is at least a few hundred dollars more per month, assuming it's even available.
i rarely comment but feel like all comments here lack a lot of perspective. This is living well within your budget for two people working in tech and saving for their future and retirement. They probably make 300k+ combined so paying about 60k with utilities all in for their housing makes sense. The only alternative here is if they moved in with another two couples into a house and brought that down to $3k ($36k yearly) or if they have family they can live with for free. The price of rent is relative to the jobs and income they can earn. It’s the best spot to be in for their careers and their earnings will far outpace their housing rental cost. The real test for them will be not to lifestyle creep in other areas and whether they are able to consistently save save save for a few years. Likely they’ll have $500k+ saved in 3 to 4 years and they can reconsider their life choices and have plenty of options for other locations or jobs then.
If their end goal is to be home owners and stay in SF long term, they are being irresponsible to get this style of apartment. Yes they can likely afford it but their ability to save either for house, family expenses, or retirement is severely impacted. Also since they are both successful it is safe to assume they came from middle to high class families who may be helping them out. Not to be negative, but it is nice to be rich kids is it not? At the end of the day they get to stay in an ivory tower for a little bit and enjoy their rooftop takeout.
@@markeasley6149 You're assuming alot You have no idea what thier backgrounds were Also you have no idea how much their making. She has a senior job in tech in SF , possibly bringing in 350k+ 33k in rent and utilities is 10% of her income
@@markeasley6149 I understand what you mean but you make a lot of assumptions here. I also work in tech and have gone thru a very similar path and did not have all those things you listed. You can live maybe a little cheaper than this but you must give up a lot, and it is true that dual income with no kids with tech jobs this is not that bad. Considering you just work at home and want to live in a safe neighborhood/place in SF. Judging is easy but when you are in that spot you do see things a little different. So I totally respect them.
I said they are successful people. Most successful people don't come from nothing. Great schools, good training to get to where they are. You don't have to be a genius to realize that comes from a place of fiscal comfort they likely had most of their lives and why they want to jump to a higher level of lifestyle upgrade.
@@markeasley6149 Yet again making assumptions on lives of people you don't know. They might have been born into wealth ,they might also have come from lower income immigrant families. Point being it's stupid trying to analyze someone's life story from an 8 minute video on the internet Also your point on most successful people not coming from anything is just false and bitter sounding
I'm a San Francisco native. The 'East Cut' neighborhood is not one I'd live in. That neighborhood is full of office buildings and no real great food options besides places that cater to office workers, i.e. coffee shops, quick lunch places etc. Also, I own a house in San Francisco and my mortgage is below what they pay a month.
@@user-td7xf3gz4l Yes even with property taxes it's lower. Total with HOA I'm paying around $2300 for 600 sq ft in East Bay / Newark area. Definitely not "cheap" compared to the rest of the world, but for Bay Area that's not bad.
She's a program manager who makes six figures and he is a director/scientist who also makes six figures. Spending nearly 4k a month on rent with their combined incomes is very reasonable. We're talking about the BAY AREA not some city in the midwest or rural Arkansas.
If they were smart, they could buy a nice cheap house right outside the city and still enjoy everything that is SF. Daly City has huge houses they could easily afford without having a huge commute. In fact, it would be the smart thing to do to build up equity, increase their investments and retirement accounts substantially, and even retire in just a few years. But, they have been brainwashed to work for a living and are young. I was just as stupid when I was their age. I’m halfway to being a millionaire because I decided that my future was not going to be living an apartment the rest of my life. Making huge amounts of money is only the first step in their happiness.
@@taoist32 Maybe they weren't ready to buy. Renting offers flexibility in case they realize they didn't want to stay in the bay area. If you watched until the end, they do mention they are saving up for a mortgage so they are looking to buy because NOW they're ready.
I live in SF and people outside don't know that $3850 a month for a place like theirs is actually lower than expected. You can get a one-bedroom for 3850 a month in SF, but it's not going to be a high-rise in middle of the downtown area.
It hasn’t gone up. 2015 was the absolute max for rent. With covid it’s definitely gone down a whole lot. We are paying a little more than half of what they are paying for a similarly equipped apartment in South Bay with 2 months free. They got ripped off lol
@@free22 rent in the city has gone down a whole lot also. I went to see a lot of apartments in SOMA and financial district they were no where near that price with similar amenities and size. Also South Bay near Google and Facebook are crazy expensive before covid too, not just SF.
@@frf1670 It probably comes down to when you were looking for apartments. It sounds like they may have locked down their lease before prices came down further.
2:40 - *Move 20 floors lower = save $600 per month* That's an extra $7,200 a year in your pocket ...I would have took that deal in a heartbeat Could have used that to max out your Roth IRA for the whole year 😎
Not built for cooking???? Girl, as a new Yorker am offended by your lack of vision. That's a ridiculous amount of space for cooking. I would say practice the art of rotation but you don't even need to that because of all the counter space.
Good for her, good for them. What I'm getting from this is that location aside, it is SO hard to be single. A successful couple of young professionals in a 1 bedroom. A single, non-tech worker has no chance.
This!! Because they obviously have good jobs and can afford it. But as a single person? Makes me think of how it’s very common to move in with sig other after just one year in NYC. I wonder if this is the practice in the Bay.
I’ve never understood wanting a higher view; especially for an extra $600 a month. I’d rather be closer to the ground level in the event I forget something in my apartment 😂 this was fascinating! Thanks for sharing!
There are benefits to being lower but overall, I think a higher floor with a view is worth it. I was on the 48th floor of my NYC building and had a view of half of Manhattan and the Hudson. The 6 elevators were always in service, and I don't remember ever forgetting anything in my apartment and having to go back up. But the high-speed elevator would take not much time at all to get up there.
I lived in a building where the d*** billboards blocked a good chunk of the view from the 13th floor, but luckily a unit was available on a higher floor.
This is easily achievable for for an insightful and new age inclined person, good thing is people are getting to know Cash is pretty much trash at this point, it is designated to fail eventually, 3 BEST and surprisingly easy ways to double or hold your funds in 2021; Real Estate, Gold, Who can guess the 3rd??
Has to be stock trading, made my first million through it earlier this year as a newbie after I met a professional from a reputable firm, retiring next year with absolutely no fears
@@tomlogan612 Congratulations in advance on your retirement, That's impressive big bucks, personally tried doing that on my own with no luck for sometime now .Who is this professional you worked with please?
@@carysalazar5374 "Alisan P Martin" she was in the news when she revived Grumac company in 2018. You can look her up on the web to get more info on her
@ at least they own a home and are building equity - not overpaying for a shoebox with homeless outside and stuffing the coffers of some billionaire landlord
3 года назад
@@anonymous3727 do you know them personally? keep your biases to yourself. Your jealousy is showing.
Adequate Smartphone (the pinnacle of 21st century tech): Two days pay at minimum wage Housing (affordable to even the poor of antiquity): Unaffordable in the 21st century
This is even crazier when you think this is the price after the pandemic when rent around the Bay Area significantly went down. Thank you for the video though.
yannickmoon. yea, i don't think it's funny... like picking a non sequitur out of a hat, but i get it... the comedy comes from it being a comment more to the comments as opposed to the video itself. word.
Our mortgage is 3100 for a 2000 sqft new house with a yard. These are just newcomers techie people who support the system of greedy landlords and developers. No 700 sq ft apartment should cost that much in an apartment building. That’s all.
Ok so I live in sf and that area is not all that lmao, not for that price hunnay. There are other areas or bldgs where they couldve gotten 2 bedrooms for that price.
$5 per square foot PER MONTH while in South Florida a condo near the beach, as in across the street from it is $3 to $4 per square feet. San Francisco is CRAZY!!!!!!
Your right, its not her fault. It is the governments fault for not taxing these 2 at 90% so that they cant do stupid like drive up rents. People like this are bad for society.
Hating on what? That I have two more bedrooms and way more space than them? Or that they live in San Francisco, I’ve been there plenty of times, it’s not that amazing. Spending $4k on month on a 1BD, 1Bath apartment is indeed stupid by common sense standards, and we DO NOT need to aspire to be anything like this unless your life revolves around Instagram likes.
3 года назад
@King Game why so critical of other people's lifestyle. They most likely make more money than you.
@King Game From her hat it looks like she works in Tesla, and if she been there since late 2019 and based on her age 28, she would probably be a senior PM, she would probably make 500 to 1 million a year, when you have this much money 4000 is nothing to you
Okay some comments here annoyed me because people are claiming that the couple makes around $500k to $1 mil a year. My research suggests that likely is not the case. Rachel works at Square, where average salary is 122k. Husband likely makes in the same ballpark. So the couple likely makes around $250k, after taxes that will be around 15k take home (California, don't ask). So yes it's doable. But that does not leave a lot of room for saving up for down payment for a house in SF. Do not assume everyone is a senior top engineer at FAANG.
Why everyone knocking the rent? If they wanted to pay $600 a month to live in the middle of nowhere they would. You have to remember location is included in the rent. Where else are they going to bring in that high income? They work in tech so silicon valley is THE place to be.
More like 20 years ago it was. High paying tech jobs are everywhere dude. About half the people I know with high paying tech jobs are literally just working from home anyway, making their physical location borderline irrelevant.
Also Texas has its own silicon valley and all those Cali jobs are going to Dallas, Austin and Houston. Plus any job in tech worth having can do remote quite easy. I'm sure living in SF is nice but folks are encouraging high cost of living and homelessness.
Judging by the responses here, $3,850 isn't cheap even in the US. Over here in Nigeria, $3,850 per year (cause we pay yearly) can get a nice 2 bedroom apartment, in a fantastic location/city. If I have to multiply $3,850 she's paying per month for a year, man, I'll buy a good 3 bedroom apartment for her one year rent, and pay cash $46,200. Demn.
Absolutely insane considering she works from home .. she can basically leave anywhere in the US but decides to stay in one of the most expensive areas because she likes the chill vibe and can walk her dog around and buy coffee ??? Is this even real??
One of the reasons I avoid pets is because I can't relocate overseas with them. Imagine how costly being a "dog mom" really is in some of these U.S. cities
You have the down payment to pay for the 1.4 house - but these young people do not yet. Their job, life, career and other situations require this type of setup but I wouldn’t say this is irresponsible. The fact that both of them have worked hard to be able to find jobs in tech and each other is evidence that they are successful, hard working, and thoughtful.
@@joannabusinessaccount7293 if they lived in a cheaper apartment they could save at a faster rate and be able to afford the down payment when they’re ready.
So they each pay like 2k a month. Honestly as someone from the Bay that's not bad for what they get, including the amenities. She's in tech, and I assume they both make around over six figures (at least 150k).
My landlord (management company) increased the rent during pandemic. When we wanted to change our apartment with a slight improvement, seeing that the building is half empty, the stupid administrator said they gonna charge me 350$ for arranging paperwork to flip apartments and increase my rent for 500$ as a regular price. Looking 4ward to leaving them next year for a suburbian townhouse for a cheaper price.
so sad the younger generations are not just locked out of the property market but also have to pay huge rents just to live where the work is. high salaries but eaten up by high rents and cost of living
I don’t think I would ever pay that much for an apt even when I can afford it. It’s money down the drain every month. I much prefer to invest or put that into savings.
I have a six figure income and have chosen to live in a part of the country where the median home price is $170,000. I bought a $115,000 townhouse and have zero debt other than my mortgage. Life is good. I lived in DC for 10 years. Talk about expensive.
She’s not that smart. She could easily buy an actual house for less than what she pays. In fact, they could buy a 5 bedroom, 3 bathroom house in Idaho for $600,000.
I like how even though they said it’s $450 for parking 1 minute into it, they still made it seem like it was still only $3850 rent or under 4K and tried to imply that because it was 3 months free rent like we supposed to be impressed by seeing a laptop on a table and a view.
Living in SF, I consider this quite overpriced for current standards. It might be personal preference, but I don't think the amenities of apartment complexes like that are really even worth it. You could get a renovated, larger apartment with more history/character in a better part of the city for $2,500-3000; then pay maybe an extra few hundred dollars for a gym membership. I just don't understand why you would move to SF and choose to live in downtown/east cut, which has none of the character/charm that SF is known for.
Pretty sure "East Cut" is a marketing tactic by the developers.My friend lives there and didn't even know that's what the neighborhood was called until like last year.
