Damn these low quality tract homes….

[an]

[quote=flu]But you know what. Even if palo alto just doesn’t have good enough lizards and walls for you… You can always go for the gold and get a nice “affordable” condo in Pacific Heights (SF)…..

It’s “only” $4.85 million for a 3/3 condo… Because obviously, the city has character!

http://www.zillow.com/homes/for_sale/Pacific-Heights-San-Francisco-CA/80749020_zpid/268385_rid/37.800086,-122.421341,37.784859,-122.44885_rect/14_zm/1_fr/

Don’t forget though the schools suck in that area, so you’ll probably need to add another $22k/year to send each kids to private school too.[/quote]$22k/year won’t get you into top tier private school. I think it’s closer to $30k. So, if you put down 20%, your mortgage would be ~$16.5k, PITI would probably be ~$22k/month. If you have 3 kids, add in another $10k/month for private school and you’re looking at monthly expense if ~$32k before food and entertainment. Someone who live in that kind of house probably spend at least $8k in food and entertainment a month. So, a rough estimate would be $40k/month for $4.8M in expense a year. 10 years would cost $48M. LoL is all I can say.

[an]

[quote=flu][quote=AN][quote=flu]Can’t afford to own in Palo Alto?

No problem!!!! You can always rent…. Like this 2000sqft SFH…. It’s only…

$8000/month, complete with that totally awesome 1 car detached garage.

http://www.zillow.com/homes/for_sale/19469060_zpid/37.447129,-122.129045,37.43183,-122.156553_rect/14_zm/1_fr/%5B/quote%5D
That house sold for $248k in 1985.

I wonder how high will this go before it comes crashing down.

This house in RSF was sold for $630k in 1988, which is over 2x the price of the PA house. Today, the ratio is flipped.
http://www.sdlookup.com/MLS-140057279-18056_Via_Roswitha_Rancho_Santa_Fe_CA_92067

Are millionaires just more smarter with their money?[/quote]

It won’t stop until the tech stock options game stops….[/quote]tech crashed b4 and it’ll crash again. This time is not different.

[The-Shoveler]

Once your home gets above 5 or so million your probably not thinking of sending your kid to public school.

[Coronita]

I have a friend that insists on living in SF. Both he and his spouse are both doctors. 15 years later, he still says they can’t afford to own where they want to live….

[an]

[quote=The-Shoveler]Once your home gets above 5 or so million your probably not thinking of sending your kid to public school.[/quote]I think that number would be ~$2M. At least for me, if my house is $2M, I definitely would be sending my kids to LJCD.

[Coronita]

[quote=AN][quote=flu][quote=AN][quote=flu]Can’t afford to own in Palo Alto?

No problem!!!! You can always rent…. Like this 2000sqft SFH…. It’s only…

$8000/month, complete with that totally awesome 1 car detached garage.

http://www.zillow.com/homes/for_sale/19469060_zpid/37.447129,-122.129045,37.43183,-122.156553_rect/14_zm/1_fr/%5B/quote%5D
That house sold for $248k in 1985.

I wonder how high will this go before it comes crashing down.

This house in RSF was sold for $630k in 1988, which is over 2x the price of the PA house. Today, the ratio is flipped.
http://www.sdlookup.com/MLS-140057279-18056_Via_Roswitha_Rancho_Santa_Fe_CA_92067

Are millionaires just more smarter with their money?[/quote]

It won’t stop until the tech stock options game stops….[/quote]tech crashed b4 and it’ll crash again. This time is not different.[/quote]

I won’t disagree with that. It’s not a question of if…It’s a question of when and which ones.

If I had the money, I wouldn’t mind living in SF or Palo Alto. But I don’t have the money, so I have to settle for a stucco box in San Diego that is infested with lizards and has too many damn walls.

[an]

[quote=flu]I won’t disagree with that. It’s not a question of if…It’s a question of when and which ones.

If I had the money, I wouldn’t mind living in SF or Palo Alto. But I don’t have the money, so I have to settle for a stucco box in San Diego that is infested with lizards and has too many damn walls.[/quote]
Actually, if I have the money and can truly afford the nicer places in SF or PA, I would buy myself an island somewhere in the tropic and have a staff to maintain and retire.

[Coronita]

[quote=AN][quote=flu]I won’t disagree with that. It’s not a question of if…It’s a question of when and which ones.

If I had the money, I wouldn’t mind living in SF or Palo Alto. But I don’t have the money, so I have to settle for a stucco box in San Diego that is infested with lizards and has too many damn walls.[/quote]
Actually, if I have the money and can truly afford the nicer places in SF or PA, I would buy myself an island somewhere in the tropic and have a staff to maintain and retire.[/quote]

There’s no place to autocross or HPDE event… No thanks 🙂

[an]

[quote=flu][quote=AN][quote=flu]I won’t disagree with that. It’s not a question of if…It’s a question of when and which ones.

If I had the money, I wouldn’t mind living in SF or Palo Alto. But I don’t have the money, so I have to settle for a stucco box in San Diego that is infested with lizards and has too many damn walls.[/quote]
Actually, if I have the money and can truly afford the nicer places in SF or PA, I would buy myself an island somewhere in the tropic and have a staff to maintain and retire.[/quote]

There’s no place to autocross or HPDE event… No thanks :)[/quote]What are you talking about, I’d build my own track around the island :-D. Think mini-Nürburgring.

[FlyerInHi]

There maybe a crash… but even then, the gap between desirable cities and lesser cities will still retain large, historically larger in fact.

The funny thing is that with the Internet, the thinking was that people could live in the woods and still be in touch. It turns out that the Internet is causing people to move to “glamour” cities.

Anyone here wants to live in Knoxville, TN?

[spdrun]

Technological geegaws are NOT a replacement for human contact and company last I checked.

[The-Shoveler]

Being able to have a nice day at the beach in January is more the reason I think (well at least in SoCal).

Also helps not having to worry about being eaten by a twister in the middle of the night (really that is a real fear in the mid states).

Being married, I really don’t socialize much outside a few close friends (single maybe that matters more).

[FlyerInHi]

Over there, they fear earthquakes, fires and drought. They actually pity us.

[flyer]

It’s unreal to see the pricing in the Bay Area. We’ve had family up there for years, and visit all the time. Regardless of how much their homes are now worth, they have no intention of moving out and cashing in, because they love where they live.

Even though it’s beautiful, we still prefer living in San Diego for many reasons.

[joec]

Having lived in MTV before and many other areas in the BA, people who own properties really made out well.

I looked up my old place I stayed in from my younger days and it’s over a mil for < 2k sqft. I think it's really true that once you leave the BA, you probably will never go back because the housing alone is probably going to be more expensive than where you moved to and it seems like a waste (unless you are a multi-millionaire), you'd make it work wherever you're now and are "happy". There are also very few reasons to live in the bay area unless you can get ultra rich in tech. For most people, you can be a lawyer or doctor anywhere else and do much better. I know both tech and doctors leaving and are happier and "making it work" in income tax free states. Oh well, like a lot of guys who left, had my chance, didn't strike it big, and moved on. I think Los Altos is a much nicer area than Mountain View as well as a lot of places west of the that freeway that goes N/S west of the 101. Forget which, maybe 280.

[Author]

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