SF bay area living questions

[KenB925]

Originally Posted by jgoens

Richmond and Martinez are good if you like refinery smell.

and a warning to stay inside because of a chemical incident every summer

[NemesisX]

Originally Posted by eluded

Nope, 8 times (~12%)

Source?

This one from 2015 (http://www.businessinsider.com/the-s...ncisco-2015-11) suggests the following in SF -

Top 1%: $558k
Top 5%: $349K
Top 10%: $238K

That would put $300k/year somewhere in the top 6-8 percentile (rough estimate).

Regardless, my original point still stands even if we assumed $300k constituted the top 12% of income in SF.

[NemesisX]

Oh okay here we go, this source: http://www.epi.org/publication/incom...ity-in-the-us/ suggests that top 1 percent income in San Francisco is More like $894k. That's more consistent with the idea that $300k/year is top 12% in SF.

But again, it's extremely misinformed to think that one needs a top 12% income to afford a top 50% house. The numbers are just too far off.

[eluded]

Originally Posted by NemesisX

Source?

This one from 2015

I'm not sure what your original point was. You're referencing stuff from 2015. It's 2018.

It's funny because I found that 12% number in a businessinsider.com article that was just posted today. Funny how that works.

[eluded]

Originally Posted by NemesisX

Oh okay here we go, this source: http://www.epi.org/publication/incom...ity-in-the-us/ suggests that top 1 percent income in San Francisco is More like $894k. That's more consistent with the idea that $300k/year is top 12% in SF.

But again, it's extremely misinformed to think that one needs a top 12% income to afford a top 50% house. The numbers are just too far off.

I don't wanna argue on the Internet but you obviously have no clue what you're talking about and you don't live there. I would encourage you to visit San Francisco and open up Zillow and take a look at the prices and ask yourself this question, how much does it cost me to buy a house that I feel safe in.

[jgoens]

Originally Posted by Mr Carrots

Even EPA where the technocrats stash their exploited home help and yardworkers is becoming unaffordable, wish we'd bought in San Mateo back in '11 and not SL lol, we made a huge profit on the sale but it would have been a much bigger one if it was in the penninsual.

Ain't that a fact. Bought my house in 2009, now it's worth more than double. Wish, I would have bought some kind of fixer a year later as the money for a down was in the bank....and now I could be renting it out for double the mortgage or sold it.

[Maestro]

Keep in mind in Calf, if you own a house, you pay 1% of the value in property tax for a $1M or $2M home that $10K to $20k, if you are making enough to pay the mortgage on said home you also in the top 13% tax bracket in Calf which also put in in the Top Fed bracket of 35%, and you loose your mortgage interest and property tax deduction after the first $10K. After paying your taxes you are looking at 50% of your income to live off and pay rent or mortgage. I know this from live out there and on the east coast, utility costs are also higher in Calf.

[Z K]

I guess I'm in the minority being a SF native and having lived here most of my life. My commute within SF is less than 20 minutes by public transit. Housing costs are overblown - there's many ways to get cheaper housing if you can compromise your standard of living.

There's many people who make much less than $100k a household who make living inside the city work for them. The most expensive expense is housing - many make do living in in-law units or splitting apartments with friends/family. A lot of my single friends get by on $1000-2000 a month in rent. Everything else is relatively inexpensive. Good food can be had for a decent price (avoid hipster and chain store stuff), entertainment is usually cheap or free within the city and there's a event, fair or street festival going on every weekend.

Richmond, CA is not a very desirable place in the bay area... there's many other places that are safer and cost just as much. If you're looking to be in SF for work - Daly City and South SF, as others have mentioned, are both safer, cheaper than SF and closer to the city.

One thing to keep in mind being in the east bay is that the BART or driving are your only access to SF. BART breaks down time to time and the bay bridge and san mateo bridge are traffic nightmares 24/7. If you go to SF for work or for the weekend, you want to be in the peninsula. You can take BART, Caltrain, bus, drive or many other ways to get into SF. Plus you have the choice of multiple highways or local roads should traffic develop.

[jonshmoe]

Originally Posted by EALm4

financial compliance / AML

Jeeze.. compliance / aml paying 130k?! I work on the corporate lending side of the bank. I can take a good guess to where you're going.

[JsL]

Originally Posted by jgoens

Ain't that a fact. Bought my house in 2009, now it's worth more than double. Wish, I would have bought some kind of fixer a year later as the money for a down was in the bank....and now I could be renting it out for double the mortgage or sold it.

Same here. I bought a fixer upper in 2009 in Newark and I can't believe the value now.

There was a duplex next door for 220k and I passed on it...

[aozer]

Originally Posted by SakhirM4

A house like that where I live would be $200K - Zillow

That place looks like a shithole compared to the other house tho

[jgoens]

Originally Posted by SakhirM4

A house like that where I live would be $200K - Zillow

Yessss, Sak, we know..we have seen the pictures.

[EALm4]

I think right now leaning towards living in the city and sacrificing the sq/ft for convenience for my job and city life. Just so much thinking and things to consider...giving me a headache

[SakhirM4]

Originally Posted by jgoens

Yessss, Sak, we know..we have seen the pictures.

Well, excuuuuse me

[jgoens]

Originally Posted by EALm4

I think right now leaning towards living in the city and sacrificing the sq/ft for convenience for my job and city life. Just so much thinking and things to consider...giving me a headache

And then you have to decide what part of the city to live in--it is small yet very diverse and some areas are horrendous for parking. And the bad areas can be a block or two from good areas.

[FriedPiston]

Originally Posted by EALm4

I think right now leaning towards living in the city and sacrificing the sq/ft for convenience for my job and city life. Just so much thinking and things to consider...giving me a headache

You're going to need one of these if you live in the city: https://www.amazon.com/Luv-Tap-BG001...dp/B01BFLFF7A?

Living in the city doesn't necessarily mean easier commute unless you live within walking distance from your work. Muni is no joke and can get really crowded during rush hour. You should seriously consider South SF, San Bruno, or Daly City at the very least. The BART ride from one of those cities is super easy to get in and out of, and rent is still very feasible. They're also very close to SF if you ever have the itch to visit

[jgoens]

Originally Posted by nars3000

You're going to need one of these if you live in the city: https://www.amazon.com/Luv-Tap-BG001...dp/B01BFLFF7A?

Living in the city doesn't necessarily mean easier commute unless you live within walking distance from your work. Muni is no joke and can get really crowded during rush hour. You should seriously consider South SF, San Bruno, or Daly City at the very least. The BART ride from one of those cities is super easy to get in and out of, and rent is still very feasible. They're also very close to SF if you ever have the itch to visit

Yeah, muni royally sucks. I've ridden it a couple times and might as well go for a bike ride in the tenderloin. Better to ride the damn cable car.

[EALm4]

Originally Posted by nars3000

You're going to need one of these if you live in the city: https://www.amazon.com/Luv-Tap-BG001...dp/B01BFLFF7A?

Living in the city doesn't necessarily mean easier commute unless you live within walking distance from your work. Muni is no joke and can get really crowded during rush hour. You should seriously consider South SF, San Bruno, or Daly City at the very least. The BART ride from one of those cities is super easy to get in and out of, and rent is still very feasible. They're also very close to SF if you ever have the itch to visit

I actually have one of those in storage lol. I had to street park in some shady ass areas years ago and people have zero fucks about bumping into your car.