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an
Participant.
ParticipantIf only the rest of my life’s cost of living decrease like tech hardware.
Participant[quote=sdrealtor]Client closed here in December and had to deal with a $20k appraisal shortfall. Four months later there is a comp almost 25% higher within spitting distance. Astounding[/quote]
That’s insaneParticipant[quote=Coronita][quote=an]$130k? That’s probably regular software engineer salary. 5-10 years of experience and you’re looking at base of $150k-ish. Added in RSU, ESPP, cash/stock bonus, etc. and you’re probably looking at $160-190k. So, if you have two of them making similar, you’re now at $320-380k/year. Can probably afford $1.5-2M.[/quote]
Closer to $250k total comp per person.[/quote]
Yep, I was just under estimating to show that even on the low side, $1.5-2M is no longer crazy. at $200-250k, it should be a walk in the park.Once we have several thousands of these engineers here, this will start pushing engineer salary here in SD.
Participant$130k? That’s probably regular software engineer salary. 5-10 years of experience and you’re looking at base of $150k-ish. Added in RSU, ESPP, cash/stock bonus, etc. and you’re probably looking at $160-190k. So, if you have two of them making similar, you’re now at $320-380k/year. Can probably afford $1.5-2M.
Participant[quote=DaCounselor]Funny thing is that the average Apple engineer is probably already priced out of the best North County areas….[/quote]
Unless those Apple engineers came from Bay Area, in which case, they’re used to pay crazy housing price relative to their income.Participant[quote=gzz]”the more disfunctional LA and Bay Area cities”
How many $10 billion+ companies were started in California the past decade versus Texas+Utah+Florida? I don’t hear much about Dell and Novell these days.[/quote]
I think that’s backward looking. To get to $10B, you’d have to start at least 5-10 years ago, unless you get lucky. We all knew CA and NY are where the VC money was. TX and FL were not really on the radar. However, past performance does not guarantee future return. If you want to see where the next set of $10b+ companies will be in 10-20 years, you’d have to look at VC funding today. Today, it’s still mostly bay area and NYC. However, Austin has beaten out San Diego (which was @ #10 6 years ago) last year to claim the 10th spot.Also, just because they start in CA doesn’t mean they stay in CA. Just look at Tesla as a prime example. I know that cost of engineers here in CA is driving a lot of companies who have made it past survival mode to look outside of CA. When you’re in survival mode and need VC money, you need to be near the money. However, once you’re past that stage, distance to VC $ is no longer a high priority but cost of labor is.
ParticipantIt was slow, until COVID which shook everything up. This is the new normal and we’re not going back.
ParticipantIt’s pretty crazy if you think about it… For an area of 23k household and 74k people, there are 3 houses for sale.
Participant[quote=sdrealtor]The irony is I’ve always felt retirement in place is one of the best parts of living here. All my friends back East always looked forward to retiring in a beautiful place with a warm climate. I’ve been enjoying that all along and don’t need to move to get that. Of course they say they go to Florida because of low cost of living and taxes. But truth is they buy more expensive homes there and join expensive country clubs. If the weather sucked they wouldn’t be moving there either. Kinda defeats the argument of low cost of living and taxes as a reason to a large degree. I’m staying put![/quote]
I feel the same way about retirement. Every time I go on vacation, regardless of where, when I get back to SD and experience this weather, there’s no other place I’d rather live. People come here to vacation, so if I can live my life and experience the “vacation” every day, why would I leave if I can afford it here. I’m staying put as well.ParticipantThe numbers are even worst in Sorrento Mesa ;-).
ParticipantA single population change number doesn’t mean much. Would be nice to know more detailed data on median and average household income of who’s moving out vs who’s moving in. Would be nice to remove people under 18 as well, since they’re not really contributing to society yet. Would also be nice to know which cities their influx migrations are moving to and more specifically, relating to housing, what are their housing preference (condo vs SFR). Would also be nice to know the median/average age of the people moving in vs moving out as well.
ParticipantInventory is worst today than in 2005
ParticipantWish I have the $ I have today in 2008…
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