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hobbesmaster posted:Silicon Valley owns what are you talking about? The old speaker of the houses daughter made a documentary about sf called sf 2.0 it was bad.
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Oct 22, 2015 03:26
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Cultural Imperial posted:http://techcrunch.com/2015/10/21/that-airbnb-ad/?sr_share=facebook captains of industry don't need no books
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Oct 22, 2015 04:06
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MeruFM posted:captains of industry don't need no books They'll be in The Cloud(c) within 7 years anyway! Eventually! Most of them anyway! For a low price! More efficient than tax money!
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Oct 22, 2015 04:23
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Cicero posted:A lot of devs with families do end up priced out if they want to own a house. All the houses in my parents' neighborhood are worth a million+ now according to Zillow.
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Oct 22, 2015 04:28
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Action-Man posted:A 23-year-old Google employee lives in a truck in the company's parking lot and saves 90% of his income The picture of his "home" with the stuffed smiling turtle on his bed is so sad. You work for one of the biggest companies on the planet, and you live in a truck with naught but a spare tire and stuffed turtle for friends. As the battery on your laptop drains each night, your only warmth is the concerned bulk of a plush terrapin who worries you may be socially regressing. The spare tire is also concerned for you, but you are getting really sick of its patronizing tone. It says it only wants the best for you, but you know better. The turtle wishes you two would stop fighting. Your boss considers you a model employee.
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Oct 22, 2015 05:09
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Nessus posted:If they're having families, are they really suited for disrupting established paradigms any more, anyway?
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Oct 22, 2015 05:35
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Optimus_Rhyme posted:Yeah. We just decided to get the gently caress out of the bay area. Unless you already own or get a 250,000 signing bonus cause you wrked at tesla you're not buying a house here until the bubble bursts. Even then, you'll only be able to get homes in the 700 000s, in the shittiest, floodiest, oldest, asbesto-iest, shackiest part of town. Ever wanted to love under power lines? Next to a former crack house? There's your chance. there's no bubble in san francisco, it's all structural, baby. housing prices won't decline until the middle aged NIMBYs give up their property value protests or silicon valley itself is priced out of the bay this is exactly why every city in america you've heard of that isn't SF or NYC is going full speed ahead on attracting tech firms
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Oct 22, 2015 07:13
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  http://www.sevendaysvt.com/vermont/bernies-bucks-latest-filing-details-sanders-thriving-campaign/Content?oid=2962573
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Oct 22, 2015 07:20
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to be more precise, there's no particular bubble in the bay area there is a probable bubble in housing near desirable cities across america, but housing prices in SF are exacerbated by a somewhat unique geographical limitation, poor transportation, and a notoriously stubborn middle aged middle class who bought when the buying was good and is fighting new development tooth and nail to retain their property values new housing starts in the SF region are actually declining and the average price of them is shooting up, indicative of a severe lack of supply even before you start talking about the price of already extant units, with a lot of the slack happening in bedroom suburbs boner confessor fucked around with this message at 07:29 on Oct 22, 2015 |
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Oct 22, 2015 07:25
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Popular Thug Drink posted:to be more precise, there's no particular bubble in the bay area It's not helped by the major growth industry in the area having tons of money to throw at its higher-earning workers, who then use that money to help bid up the prices of the already limited housing stock by buying it, or if they already own it and want to move, holding onto it and turning it into a rental property rather than selling it, because the rental market prices are going up 10% year on year for at least the past 5 years. And of course with those sorts of growth rates, you can be sure that the Wall Street would love to capitalize part of that 10% year-on-year growth to make their investors even richer, thus driving even more home sales to institutional investors looking to capitalize on renting homes. Meanwhile, those new "hot shots" entering the bottom end of the industry now with their six-figure incomes and $100k signing bonuses are lucky to see their raises top out at 3% year-on-year so their entire raise goes to cover the increase in rent, rather than slowly building a nest egg to help buy a house. Not that it matters, because all of the baby boomer houses are just going to be inherited, not sold, because why sell when you can rent without even having to pay down a mortgage or deal with a tax reassessment? After all, your parents paid it off and it's basically a check for a free $45k a year, especially when your taxes are restricted from going up based on the fact that it's still assessed what it was when your parents bought it 50 years ago, in order to "help protect the integrity of the neighborhood and its existing residents" (you know, the ones who died and whose children may no longer live there) EDIT: Now imagine what it's like living in that environment if you're an immigrant earning $15 an hour. ComradeCosmobot fucked around with this message at 07:56 on Oct 22, 2015 |
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Oct 22, 2015 07:40
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Well, Redwood City and a few others seem to be keen on building homes, at least. There's a chance supply might actually catch up over the next decade. Combine that with some sort of population exodus (anything from a tech-downturn to a different cheaper metro snatching up silicon valley workers) and you're talking floor falling out. Hell maybe that lawsuit to force affordable housing to be built in Lafayette (East Bay) will set a precedent.
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Oct 22, 2015 08:13
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ComradeCosmobot posted:Meanwhile, those new "hot shots" entering the bottom end of the industry now with their six-figure incomes and $100k signing bonuses are lucky to see their raises top out at 3% year-on-year so their entire raise goes to cover the increase in rent, rather than slowly building a nest egg to help buy a house. Top out, maybe, but a new grad at a top company can go from $140-160k in comp (not including signing bonus) to $225-300k as a senior software engineer in 3-5 years. After that it gets a lot more difficult to get promoted but your increase in total comp should be well over 3% y/y on average at the beginning of your career.
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Oct 22, 2015 09:15
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Hypothetically if one wanted to do a postdoc at Stanford, what would kind of rent would they be looking at for a 1br apartment within 30min of campus (walking or transit preferred, driving if someone puts a gun to my head)? Dunno how much postdocs are paid, but I doubt it's six figures.
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Oct 22, 2015 13:50
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ANIME AKBAR posted:Hypothetically if one wanted to do a postdoc at Stanford, what would kind of rent would they be looking at for a 1br apartment within 30min of campus (walking or transit preferred, driving if someone puts a gun to my head)? Dunno how much postdocs are paid, but I doubt it's six figures. $2500 for a complete shithole with bed bugs, to $3500+ for a place you'd actually want to live. I was shopping in Sunnyvale / MTV a few months back.
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Oct 22, 2015 14:43
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ShadowHawk posted:Well, Redwood City and a few others seem to be keen on building homes, at least. There's a chance supply might actually catch up over the next decade. Combine that with some sort of population exodus (anything from a tech-downturn to a different cheaper metro snatching up silicon valley workers) and you're talking floor falling out. Don't you live in some sort of Hacker Hostel thing?
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Oct 22, 2015 14:54
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Popular Thug Drink posted:silicon valley itself is priced out of the bay How can I survive in the Bay Area? quote:Both me and my husband work at top notch companies in bay area and make around 400k. Even with this kind of salary we are unable to buy a single family home in Cupertino. We want Cupertino because of good schools and shorter commute to our work. What should we do in addition to our regular job to be able to afford such expensive houses? Any suggestions on investments/ business etc ? Seems like it's already getting bad if you want to have a family and not have a 2 hour commute or have everyone sleep in one tiny room like one of those pictures of poor immigrants in 1908.
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Oct 22, 2015 15:16
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I love the comments on that: "$400k is a lot of money! All you have to do is watch your spending and save for a few years and you'll able to save up a down payment - as if you're not making anything near $400k!" If you have to do things the same way that they're do by people without huge incomes, then your income really isn't that big, no matter how high the numbers seem. Otherwise, everyone in Zimbabwe would have been rich when they were going through hyperinflation. These people must have been making similar comments about Zimbabwe: "That country is full of millionaires now! All they have to do is watch their spending and save a bit and they'll be able to afford food and toilet paper!"
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Oct 22, 2015 15:44
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EB Nulshit posted:I love the comments on that: This is... kind of true, but not in the way that you're implying. Cost of living means that a high income in SV really isn't as high as it seems, but the ability to cut expenses in order to save significant amounts of wealth is one of the explicit advantages of having a high income. $400k/year is a lot of money, even in SV. The fact that you might not be able to buy a house doesn't mean that you're suddenly less well off than someone making an eighth of your income in a lower cost of living area, in part because you have the ability to save huge amounts of money and then gently caress off to an area where your wealth will actually buy you the things that you want. Your Zimbabwe analogy is honestly pretty weird, because no one making six figures in a high cost of living tech hub is struggling to survive. They might not like how much of their income has to go towards housing, but neither do most people.
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Oct 22, 2015 16:07
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ANIME AKBAR posted:Hypothetically if one wanted to do a postdoc at Stanford, what would kind of rent would they be looking at for a 1br apartment within 30min of campus (walking or transit preferred, driving if someone puts a gun to my head)? Dunno how much postdocs are paid, but I doubt it's six figures. Stanford pays new postdocs 50k. BY which I mean no one is required to pay more so more can't be counted on. That amount seems low for some disciplines and astronomical for others. Living by yourself in a place where you can walk to Stanford or the local Stanford run bus will cost you at least $2000/month. I'd say get a bike but if El Nino comes through you're not going to want to do that.
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Oct 22, 2015 16:12
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Stanford has a limited supply of subsidized housing for grad students and if I were you I'd suck as many dicks as it took to get on that list.
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Oct 22, 2015 16:21
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The_Franz posted:How can I survive in the Bay Area? My wife and I make much less than that, and we were able to recently buy a 3 bed 2 bath in a more desirable city with good school districts (we have no kids, but it is insane how many buyers care about that). Do they demand a 6 bedroom in a specific gated community? House prices are definitely high and out of range for a lot of people, but not for people making 400k a year, if that was the argument being made with that link. With that type of money you can still get a pretty big place (2000-3000sqft?) in an expensive city. Pain of Mind fucked around with this message at 16:55 on Oct 22, 2015 |
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Oct 22, 2015 16:52
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You are receiving this broadcast as a dream...We are transmitting from the year one nine... nine nine ...You are receiving this broadcast in order t
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Bay area property dealings just feel so shady and the market moves so fast it can be a real PITA to find something you like and be able to get it.
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Oct 22, 2015 17:54
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lancemantis posted:Bay area property dealings just feel so shady and the market moves so fast it can be a real PITA to find something you like and be able to get it. While this is true, I have less sympathy for people who complain about housing, but refuse to live in the suburb 15 minutes away from their preferred suburb.
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Oct 22, 2015 17:58
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ANIME AKBAR posted:Hypothetically if one wanted to do a postdoc at Stanford, what would kind of rent would they be looking at for a 1br apartment within 30min of campus (walking or transit preferred, driving if someone puts a gun to my head)? Dunno how much postdocs are paid, but I doubt it's six figures. Stanford has all kinds of sweetass loan programs for faculty including a zero interest one. Makes sense since they've gotta be able to attract new staff into the area who are gonna want to buy a house in the area eventually. Best Friends posted:Stanford has a limited supply of subsidized housing for grad students and if I were you I'd suck as many dicks as it took to get on that list. This too. We just got off of the lottery for a new luxury development in Los Altos that opens next month; same rent as we're paying now for our lovely apartment originally built in the 50s but holy moly this new place would cost more than double if Stanford hadn't just up and bought the whole thing "for faculty households who want to transition into home ownership in the future."
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Oct 22, 2015 18:14
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Pain of Mind posted:My wife and I make much less than that, and we were able to recently buy a 3 bed 2 bath in a more desirable city with good school districts (we have no kids, but it is insane how many buyers care about that). Do they demand a 6 bedroom in a specific gated community? House prices are definitely high and out of range for a lot of people, but not for people making 400k a year, if that was the argument being made with that link. With that type of money you can still get a pretty big place (2000-3000sqft?) in an expensive city. Cupertino is insanely overpriced and the schools aren't worth it. They're good enough, but not as good as they're hyped to be. You could live in any of the half dozen or so nearby school districts that are about as good and pay half the housing cost. Or live somewhere with terrible public schools and send your kid to a fancy shmancy private school. To answer you question, you can't get a 3br/2b for a million in Cupertino. This is the cheapest 3br listing currently: https://www.redfin.com/CA/Cupertino/10790-Minette-Dr-95014/home/772532 It'll probably go over asking.
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Oct 22, 2015 18:19
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When you're making hundreds of thousands of dollars, any school district can be a good school district for your kids because you're the guy with disposable cash to put in to making it better. It's what makes it really hard to understand people who complain that they can't get a "good" school district in a place where even the worst ones are still well ahead of much of the country.
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Oct 22, 2015 18:24
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Nintendo Kid posted:When you're making hundreds of thousands of dollars, any school district can be a good school district for your kids because you're the guy with disposable cash to put in to making it better. It's what makes it really hard to understand people who complain that they can't get a "good" school district in a place where even the worst ones are still well ahead of much of the country. Their kids might associate with poor families making less than 200k per year.
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Oct 22, 2015 19:12
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Family Values posted:Cupertino is insanely overpriced and the schools aren't worth it. They're good enough, but not as good as they're hyped to be. You could live in any of the half dozen or so nearby school districts that are about as good and pay half the housing cost. Or live somewhere with terrible public schools and send your kid to a fancy shmancy private school. I was not arguing that there are nice houses in Cupertino below 1mil, just that if you make 400k, you can probably afford something quite a bit more than 1m, probably closer to 2m.
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Oct 22, 2015 19:17
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Trabisnikof posted:While this is true, I have less sympathy for people who complain about housing, but refuse to live in the suburb 15 minutes away from their preferred suburb.
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Oct 22, 2015 19:32
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No wonder Denver is exploding. $1.2 million dollars for an old ranch home? I guess I shouldn't be surprised when our average rent has gone up 100% in the past 5 years and people from the coasts still talk about how "cheap" the city is.
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Oct 22, 2015 19:49
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Cicero posted:If you wanna get reasonable prices these days close to work, you usually gotta move more than 15 minutes out. I work in Mountain View and live on the eastern side of Sunnyvale, and driving to/from work during rush hour generally takes 30-50 minutes as is (which is why I usually bike instead). The median home value in Sunnyvale? 1.3 million. I live in roughly the same location. People need to keep in mind that one bedrooms that Cicero and I could rent start at about $2100 for a dumpy apartment building in a bad area of town that was built in the 1960s. I'm about to move into an okay low-to-mid-market unit that's running at $2500 a month. So while I'm salty about the prices because I'll never be able to afford a home with less than a 90 minute commute, I always have to remember that I'm lucky. At least I can afford to buy that home if I save for a few years. I can afford to rent close by without having to split rent (yet). And if I can't, I can still move into eastern San Jose to find rents that are still below $2k if I'm willing to give up bicycling to work and put up with an hour long commute because public transit is poo poo here. The people who work at the Chipotle and Target and Safeway struggle to even afford to do that. ComradeCosmobot fucked around with this message at 21:29 on Oct 22, 2015 |
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Oct 22, 2015 21:22
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Radbot posted:No wonder Denver is exploding. $1.2 million dollars for an old ranch home? I guess I shouldn't be surprised when our average rent has gone up 100% in the past 5 years and people from the coasts still talk about how "cheap" the city is. 1.2 is the teaser price. It'll probably go for 1.6 or more.
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Oct 22, 2015 21:27
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ComradeCosmobot posted:I live in roughly the same location. People need to keep in mind that one bedrooms that Cicero and I could rent start at about $2100 for a dumpy apartment building in a bad area of town that was built in the 1960s. I'm about to move into an okay low-to-mid-market unit that's running at $2500 a month. Yeah the poo poo public transit in the south bay is a huge part of the problem. You can find homes in good communities on the bart for whatever price you can afford. But good luck commuting to Mountain View from the BART to Caltrain to bus/walk/bike/etc. Or imagine how the housing pressure would be different if the Dunbarton rail bridge was open and you could easily use ACE to be a suburb loving engineer living in Tracy/Livermore and working in Palo Alto/Mountain View without the godforsaken 4 hour commute.
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Oct 22, 2015 21:28
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ComradeCosmobot posted:I live in roughly the same location. People need to keep in mind that one bedrooms that Cicero and I could rent start at about $2100 for a dumpy apartment building in a bad area of town that was built in the 1960s. I'm about to move into an okay low-to-mid-market unit that's running at $2500 a month. * not actually mobile, of course Trabisnikof posted:Yeah the poo poo public transit in the south bay is a huge part of the problem. You can find homes in good communities on the bart for whatever price you can afford. But good luck commuting to Mountain View from the BART to Caltrain to bus/walk/bike/etc. Support BRT on El Camino! Open house at Mountain View city hall tonight @ 6! https://www.facebook.com/events/469471253225183/
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Oct 22, 2015 21:35
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fits my needs posted:Don't you live in some sort of Hacker Hostel thing? Now I rent a big house in Mountain View and rerent the other bedrooms on AirBNB (long term stays). Finding a room here is very hard, especially one that doesn't commit you to a year-long lease because you're an intern, so there's a surprisingly large amount of long-term renters coming from AirBNB. The first one I had booked for two months literally ten minutes after I put up the listing. I'll note I got a bit lucky finding this particular house. When I was searching it wasn't uncommon at all to see absolutely ridiculous landlords. Among the things I saw: 1) 16,000 dollar security deposit required, pets prohibited. How a pet could cause that level of damage is beyond me. 2) 6 bedrooms, max of 2 people living in the house. "The previous tenant was an individual who would only visit the property a few days per month, so the owners are a bit spoiled."
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Oct 23, 2015 00:28
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Boot and Rally posted:Stanford pays new postdocs 50k. BY which I mean no one is required to pay more so more can't be counted on. That amount seems low for some disciplines and astronomical for others. Best Friends posted:Stanford has a limited supply of subsidized housing for grad students and if I were you I'd suck as many dicks as it took to get on that list. Thanks for the info everyone! ANIME AKBAR fucked around with this message at 13:38 on Oct 23, 2015 |
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Oct 23, 2015 13:35
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Considering Stanford's endowment, $50k is basically a "gently caress you".
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Oct 23, 2015 16:27
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Sincere question: How much do postdocs, especially in engineering or biotech fields, have the opportunity to do consulting on the side in a place like Stanford?
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Oct 24, 2015 03:48
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https://next.ft.com/content/58c1be70-7df7-11e5-a1fe-567b37f80b64quote:Tech ‘unicorns’: life in the goldfish bowl
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Nov 2, 2015 05:45
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If these companies weren't doing IPOs, they wouldn't have $1b valuations.
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