@@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...
@@goldenstatew2399 thats today. What abouy 2 years from now? 5 years from now? Uber started 12 years ago and now the taxi industry is dead. Dont be too optimistic, I am not.
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.
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
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.
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.
"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".
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.
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.
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.
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.
@@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.
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.
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.
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?
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
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.
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..
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.
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.
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.
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
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.
true! The rich pretend to care about the nature, environment, wildlife by prohibiting new developments. In reality they just want a land all to themselves with no neighbors, yet they want to live close enough to a big city so they can go there for entertainment and stuffing their throats with a premier food.
@@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
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.
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.
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.
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
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.
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.
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.
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.
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".
...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...
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 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.
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.
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?
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.
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
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 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.
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 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
@@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.
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
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?
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.
I'm a mail carrier in tx making around $50,000 (about 60 with overtime) a year living in a houston middle-class suburb, obviously I'm not rich but all of my bills get paid when due, ALL my needs are satisfied and for the most part I get my wants. Thats making between 50-60,000/yr... what the hell is going on in Cali??
The trend I see is consistent flux of very talented people around the world come to Bay Area to work hard for 10 years and then move out to somewhere else with enough wealth to live comfortably when they want to focus on other things in their lives. It feels more like a factory rather than a community.
Every time I think about the wage level difference between different jobs here in Bay Area is insane. I am in non-tech design field and my starting wage is around 50k a year and it takes almost 10 years to reach to a 150k! But for tech people, 150k is probably their one month salary. Sigh…it’s so hard to live in the Bay Area as a regular people.
Spend 2 years with 2 or 3 roommates splitting the costs. Save up your money. Get you a "special other" who's an earner like you. Buy a house in East Oakland or Hayward, even Stockton. There's always a way Calvin. Be flexible.
I remember 09 my dad bought a house for 40k in richmond ca invested 50k ( needed to remodeling and repair ) and now his house is worth almost 300k. I still cant believe how cheap it was in richmond back in 09... They're were giving away the house for free.
because home building slowed to a trickle after the 08 crash and never recovered. Now theres too much demand, (low interest rates) and low supply ( retiring boomers are living longer and they're not moving or downsizing as predicted, they stay put).
Minimum wage in SF is 17$/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.
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.
@@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.
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. 😐
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’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 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.
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.
@@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
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.
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
@@isaacjson The high cost of living and real estate is due to the zoning regulations. It artificially inflates the market values of local properties at the detriment of it's own stability just to create more tax revenue for the local gov.
@@arsheezytv i live outside the bay. And let me tell you. If you haven't see it with your own eyes you have no clue, and if you have seen it and you still feel this way. You're Lying to yourself.
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).
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.
I’m no expert but even I know SF will start to see a massive decline in house prices as the years go on. You’re either A. making the big salary and affording to live but in an area that’s filled with crime and literally worrying about your safety every day B. You’re a worker making a pretty good salary (100k-200k)but still just barely getting by in an area filled with crime and having to worry about your safety every day. C. You’re a worker with a full time job and earning a good salary(50-100k) and you’re not getting by in a city filled with crime and having to worry about your safety every day There’s no reason for anyone with a job to stay there unless you have to.
@@bobbyb2725 that are mostly handed to them by the parents of the newlyweds who both “want to live close to home, near family, and near good schools”. 3 families moved in next to, and across from me last year. The average price was 1.6 million for a single story, 3 bed, 1 bath house with less than 1500 sq feet. All the husbands work at sales force Two of the wives are teachers, one is a stay at home parent. Their parents paid for most of the house.
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.
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
The Bay Area just has so much inequality, you have Tesla chargers on one side of the street and then homeless shelters on the other side, so many people are going to have to move unless they want to live with family forever. Our local governments do nothing to build more housing but they want everyone to come get a tech job.
That’s not actually true about building new housing. Some areas are building like crazy and trying to ruin wet land areas and build into flood zones. It’s not affordable housing.
@@MsArtistwannabe they build single family housing, which only houses one family, they also build luxury apartments that nobody can afford. They don’t want to built affordable housing
@@user-pv3rl2lv4p If nobody can afford those apartments then they would remain empty and the landlords would be forced to reduce rents. There are people who can afford it.
@@tltaber50 Yeah that’s what’s bad about it , they have rich tech workers and rich white people who can get really good jobs because of there generational access to education and connections and privilege to get those high paying jobs. Meanwhile families in East and West Oakland are struggling to make it and things are getting even more expensive. We don’t need luxury apartments we need realistic housing that people with “regular” jobs can afford.
@@tltaber50 I feel like the luxury apartments in the Bay Area have many units that stay empty, and because the building is owned by a rich company/developers they let them sit and don’t care. Just like there’s a lot of housing empty in SF but you have alot of people on the streets. The reality is most people can’t afford those apartments but the people that are making a higher income, it’s simple gentrification to try to push at the natives and push in higher income people who can afford better housing.
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.
I can afford it because I built a small 8x6 wood shed in the backyard and live in it! Insulated and converted to a livable space. Yes I still live at home with my parents at 28 but I have my own personal space that’s mine so I have privacy. I still pay my parents for my share of the groceries and other bills. We own our house in San Jose so no mortgage. It’s kind of nice.
Wrong! Is not the price you pay for living there but the lack of forward planning. They allow all these corporations to thrive while doing little for the public infrastructure which is equally, if not more, important.
I lived in Vallejo but moved in ‘89. I prefer to remember SF the way it was. I returned for a wedding two years ago and hardly recognized the city. I think the only resident I saw on the street smiling was an old Chinese lady in Chinatown. Most people just don’t look happy. Also bums (I’ll call them what they are) on street corners banging on plastic buckets pretending to be real musicians looking for handouts. Going out to eat in the evening, seeing men on drugs running around ranting like some horror movie. SF, I’ll always remember you the way you were years ago. I mourn your passing . . . I live in Ohio now (God forbid!) in a 3,000 SF home in a nice quiet neighborhood for with low taxes. At least we can go for a walk at night without people trying to shake you down for cash, or worse.
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 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.
You are actually 110% incorrect. There are many, many areas of CA that are affordable to purchase. Unfortunately, they may be undesirable for a variety of reasons, such as commute, lack of local jobs, or crime. BTW, no one MUST live in CA. There are other options all over the country, especially in Red states where nuts don't run the state.
Lifelong resident of the Bay Area and from my perspective, its nice people that a few folks are doing well but the overall quality of life has gone to shit here over the last 20+ years. Overpriced. Overcrowded. And full of more assholes than ever. Im gonna be glad to leave it behind soon