Poll of the Day > Families earning $117,000/yr now qualify as 'low-income' in Bay area California.

(+) Yeah! (+)

80/80

https://www.cbsnews.com/news/families-earning-117000-now-qualify-as-low-income-in-californias-bay-area/

SAN FRANCISCO -- A report out this week from the Department of Housing and Urban Development finds the median price for a single-family home in the Bay Area is now $935,000. A family earning $117,000 now qualifies as "low income" in the region.

CBS News went to see California's red-hot housing market with realtor Larry Gallegos. He showed us a house you would think he couldn't give away. But Gallegos says the home, complete with leaks in the roof, sold for $1.23 million. The buyer beat out six competing offers, all above the asking price.

"It's a little mind-blowing, but it is the norm around here," Gallegos said.

That norm is fueled by thousands of well-paid tech workers who have driven up the median price of a San Francisco house to $1.6 million dollars, the highest in the country. While housing prices are rising faster than incomes nationwide, nowhere is it more evident than in the Bay Area, where home values have soared a staggering 64 percent over the last five years.

That could explain how a 1,000-square-foot shell of a house in the heart of Silicon Valley sold for close to $1 million dollars. Also recently listed? A burned-out home near Google and Apple.

Serious buyers also better bring cash. Just ask Sally Kuchar, who tracks real estate for the website Curbed San Francisco.

"We cannot afford to live here, nor could we afford to live pretty much anywhere in the Bay Area," she said.

The same goes for teachers, hospital workers, police officers and working people all over, who make up the lifeblood of any community.

One flier could speak for the entire Bay Area housing market: "Enter at your own risk."

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It is if you live in the Bay area
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yourDaddie posted...

It is if you live in the Bay area

Literally says this in the topic title.
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A room in the Bay Area is gonna be over $1000 per month in rent.
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jramirez23 posted...

A room in the Bay Area is gonna be over $1000 per month in rent.

I doubt it would be that low
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"Look at those disgusting peasants who can't even afford their own dog walkers."
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jramirez23 posted...

A room in the Bay Area is gonna be over $1000 per month in rent.

Studio apartments (that's where living room, kitchen, dining room and bedroom are combined into a single room) start at around $2000 in San Jose.

There's always Oakland.
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Why would anybody even want to live there?
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Far-Queue posted...

the median price for a single-family home in the Bay Area is now $935,000.

Doubt it
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A reminder that there is an human fecal map that exists for San Fransisco.
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I live on the Eastern side of the Bay Area about 45 minutes away from SF and rooms go for around $1300 here. Apartments for $2000.

Everyone I know has at least 2 roommates to help split the costs.

MrMelodramatic posted...

Far-Queue posted...

the median price for a single-family home in the Bay Area is now $935,000.

Doubt it

Why?
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Revelation34 posted...

Why would anybody even want to live there?

They are probably just big Full House fans.

MrMelodramatic posted...

Far-Queue posted...

the median price for a single-family home in the Bay Area is now $935,000.

Doubt it

I live here. It's real. 3600 a month for my rent
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"Just move out brah, spending half your monthly income on rent isn't so bad brah. Stop being so poor brah"
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There is utilities plus rent on apartments. So if $100,000 to $120,000 counts as low income in Bay area CA, you should not live there.
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Why are poor people living in expensive areas? Did you have rich parents but they abandoned you?
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People grew up there and lived there before prices became so insane.

In the 90's I rented a 2 bedroom for $600 a month and split it with 2 friends ($200 each).

Even just 10 years ago or so, you could still rent somewhere for around $1000 a month, although the prices were going up every year.

In the last decade it's just gotten rediculous. Rent has almost doubled on average in that time, from already being fairly high at that point. You can't rent in a bad part of town, a crappy place, for less then $1500 now in most cases. It's crazy.

You can maybe.....maybe....rent a room somewhere for $700-$800 if your lucky. That is about the best your gonna get unless you live in a Van.....and there are very few rivers.

Great food there, awesome weather etc....but yeah....not worth it at this point to be honest.
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**** be whack
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Ain't unchecked capitalism great? 'murica fuck yeah.
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1st world shithole confirmed. The splitting is coming.
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Revelation34 posted...

Why would anybody even want to live there?

High paying jobs, if you can land them.
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If you can land them is right. Sadly, like almost everywhere, a large # of the jobs pay minimum wage or at least $15 or under an hour.

Most places $15 an hour is actually enough to live fairly well (fewer every day, but still alot), but the bay area?

40 hours a week at $15 an hour after taxes is about $1200 a month.

You can't rent a 1 bedroom for that much.

You can......barely......get by renting a room on that income, so you either live with parents etc, rent a room, or live in a car basically if your working about 40% of the jobs in the area.
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Hop103 posted...

1st world shithole confirmed. The splitting is coming.

Wat.
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Should be mentioned btw, that until recently starting Salary for teachers in Gilroy and a few other districts was $30k a year....which was also not enough to rent your own apartment with (especially if you had student loans which many starting teachers did).

Quite a few new teachers where renting rooms when I left.
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Revelation34 posted...

Hop103 posted...

1st world shithole confirmed. The splitting is coming.

Wat.

https://www.youtube.com/watch?v=f1wlV0X7CJM" data-time="

San Fransisco is a shithole. Lots of homeless, drugs (I'm not talking about weed either, I mean the really bad stuff like heroin), housing prices that make it unaffordable for even those making $100K a year, remember this is the only place in the US where an old unlivable shack was the cheapest housing available.

https://www.vice.com/en_us/article/kwxpkn/the-cheapest-house-in-san-francisco-is-a-dilapidated-shack-selling-for-350k-511
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Hop103 posted...

Revelation34 posted...

Hop103 posted...

1st world shithole confirmed. The splitting is coming.

Wat.

https://www.youtube.com/watch?v=f1wlV0X7CJM" data-time="

San Fransisco is a shithole. Lots of homeless, drugs (I'm not talking about weed either, I mean the really bad stuff like heroin), housing prices that make it unaffordable for even those making $100K a year, remember this is the only place in the US where an old unlivable shack was the cheapest housing available.

https://www.vice.com/en_us/article/kwxpkn/the-cheapest-house-in-san-francisco-is-a-dilapidated-shack-selling-for-350k-511

Nothing is getting "split" and drugs are in every city.
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It's the part of the country that everyone wants the whole country to be modeled after.
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You should try where I live in Florida. I've seen rooms that rent out at $1200/month (I'm not kidding about it either). You have a hard time finding a studio apartment (those seem to be a rarity), and even one bedrooms are going for around $1000 or more. There is no such thing as affordable housing in the county where I live (Hillsborough); all we get is more and more flippers whose antics price the houses out of range of the people who live here.

Revelation34 posted...

Hop103 posted...

Revelation34 posted...

Hop103 posted...

1st world shithole confirmed. The splitting is coming.

Wat.

https://www.youtube.com/watch?v=f1wlV0X7CJM" data-time="

San Fransisco is a shithole. Lots of homeless, drugs (I'm not talking about weed either, I mean the really bad stuff like heroin), housing prices that make it unaffordable for even those making $100K a year, remember this is the only place in the US where an old unlivable shack was the cheapest housing available.

https://www.vice.com/en_us/article/kwxpkn/the-cheapest-house-in-san-francisco-is-a-dilapidated-shack-selling-for-350k-511

Nothing is getting "split" and drugs are in every city.

California is getting split into 3 states very soon.
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MrMelodramatic posted...

Far-Queue posted...

the median price for a single-family home in the Bay Area is now $935,000.

Doubt it

You'd be wrong.

Hop103 posted...

California is getting split into 3 states very soon.

And Texas became its own nation. /s
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Hop103 posted...

Revelation34 posted...

Hop103 posted...

Revelation34 posted...

Hop103 posted...

1st world shithole confirmed. The splitting is coming.

Wat.

https://www.youtube.com/watch?v=f1wlV0X7CJM" data-time="

San Fransisco is a shithole. Lots of homeless, drugs (I'm not talking about weed either, I mean the really bad stuff like heroin), housing prices that make it unaffordable for even those making $100K a year, remember this is the only place in the US where an old unlivable shack was the cheapest housing available.

https://www.vice.com/en_us/article/kwxpkn/the-cheapest-house-in-san-francisco-is-a-dilapidated-shack-selling-for-350k-511

Nothing is getting "split" and drugs are in every city.

California is getting split into 3 states very soon.

Ive got a bridge to sell ya if you actually believe that
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Hop103 posted...

California is getting split into 3 states very soon.

Lol.
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The_tall_midget posted...

"Look at those disgusting peasants who can't even afford their own dog walkers."

Once you have moved into the Bay Area, you are forever deaf to hearing the whimpers of poor people.
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Vancouver is the same way.

My uncle who just visited said a two bedroom condo just down the street from him sold for $2.1 million. We are talking a place that is half the size of my house yet somehow 20X the price. Plus I have a yard.

The cost of living there is just insane.
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https://www.youtube.com/watch?v=TMTkedIUX8U" data-time="

Capitalism is a bane on human existence.
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Lil69Leo posted...

Vancouver is the same way.

I think it's slightly worse, the prices there are more expensive than the Bay Area due to Chinese buying up all of the good property. Also, it's Canada, so you have much higher SJW activity.
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And there are places in CA where the cost of living is even higher. I think the median price for houses in my area is in the seven figures.

Most of the people that live here made or make their money somewhere else and not through the local economy, which is largely tourism and higher education based. Those incomes make it very difficult to pay for the extremely high cost of living. I have seen people pay $800 a month for a 10 x 10 foot room without windows in the back of a garage. Houses often sell for over $1,000 per square foot.

The best part? The state taxes EVERYTHING into oblivion. The typical higher state income tax bracket of 10%+ even starts to kick in when your income hits about $60k per year. And then you regularly see sales taxes of around 10% in most places.

There is a reason why the percentage of people getting welfare and social services in California is grossly disproportionate to the state population on a national basis.

TES_Nut posted...

Ain't unchecked capitalism great? 'murica fuck yeah.

I'm not trying to get political, but I think that a lot of it might have to do with just plain lack of supply. Plus, that there is a policy of rent control in some Bay Area cities might make the situation worse. The bad thing is that people tend to get pushed out to cities in the Central Valley (which is basically California's armpit).
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