As a member of the “highly paid biotech” workforce, I can vouch that most of US can’t afford to buy homes, either. As I’ve mentioned in another post, I keep staring at the hundreds of homes at 800K and up and keep wondering where are all the people that can can afford those things? A minimum of 2-household income at 100K each for the 4X salary maximum that used to be the standard.
Pigginton has answered these questions, I think, in that there just are NOT that many people that can afford them. Banks were just handing out crzay loans because all of the middlemen could make money regardless of whether the borrowers could make good.
FormerOwners point about the big cheeses making location choices (particularly in small biotech) is a good one. Since the executives tend to live near the coast, they want the company near the coast, nevermind the possibility of available lab space inland.
