I am looking into MV, PA, LA, MP regardless of their future performance
You want to own a home in each of those cities?
why not, over time.
Do you mean overpay from list price? It is 305k overpay the list price to will the bid, not 40k.
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 can’t afford to buy in PA after working for 15 years since graduation . May be you can, how about Jil?
Wrong comparisons, Apple vs Orange! You can even compare real estate with S&P500 as stock returns are high and volatile.
Here, you are comparing real estate with FAANG…
Cause and effect. S&P doesn’t drive share prices nor look for houses in SV. Employees need homes and own RSUs and ESPPs.
FB, Google do well ️ Share price go up
️ Employ more SWEs ️ Need more houses
️ Pay SWEs more ️ Pay more for
️ Share price go up ️ Can pay even more for
When stock market seems risky many employees sell stocks to buy houses eg yourself, Jane, a few others which I cannot remember their avatar
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.
buy in mp.
After how many years, please give me a time longer than 5
I suspected that you can after typing because I realize you are not that old. Is why I ask jil in the second para.
Could have bought in 2002 after PayPal IPOed. After 3 years working in tech.
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.
That’s fine I’m still happy with other assets I have accumulated other than a trophy home in PA
Imagine how much it’d be if you were using tax-avoidance things!
Best tax-avoidance is just holding on to your assets and don’t sell. I took full advantage of that.
or you out into roth, and never get taxed!!!
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.
Wrong comparisons, Apple vs Orange!