Over list price. The list price is also overpriced in 2007, prices are not as crazy as now as Google listed for only 3 years and FB have not listed yet. These two companies are the real culprits for stratospheric high salary of SWEs and prices of in SV. So only need to watch these two companies, share prices and employment, to gauge the house prices in SV.
FB listing in 2012 started the price galloping, and last year double its employment and we see a roaring 2017 from a plateau 2016.
After working only for 5 years, can afford to buy in the better neighborhoods in SV which used to be needing about 15 years for hi-tech employees. Relative to the salary of a SWE, house prices have declined
Wu QiJun please verify that you canât afford to buy in PA after working for 15 years since graduation . May be you can, how about Jil?
I could have bought in PA back then but I had no intention to. Now I have very strong intention to but prices have risen beyond what is acceptable. Do I want to sell a good chunk of my assets to obtain a trophy home with very little rental value? No.
And worse is you could have bought a huge lot - like .5 acres or 1 acre, and could have sold it easily high premium, or keep it and sell for 100m in near future. lol.
I do not deny those as I am well aware these Cause and effect, but comparing bay area real estate prices in proportion to FAANG appreciation is not right.