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This room is for general discussion that doesn't specifically fit into one of the other CatholicMatch rooms. Topics should not be overly serious as this is to be more of a "cafe setting."

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www.sfgate.com.

The median price to own a home or condo in San Francisco just hit seven digits. Are you kidding me??? eyepopping shocked flamed
Jul 17th new
(quote) Alex-314577 said: http://www.sfgate.com/business/networth/article/1-million-city-S-F-median-home-price-hits-7-5626591....

The median price to own a home or condo in San Francisco just hit seven digits. Are you kidding me???
I was in SF last week and don't understand what the big deal is nor why anyone would want to live there. " It was the coldest summer I have ever spent", as Mark Twain would say. And when I say cold I mean COLD and WINDY. I will stay in my 115 degree heat island any day compared with someplace THAT cold.
Of course there is culture ect. but you can get that in even the smaller cities.
Jul 17th new
(quote) Alex-314577 said: http://www.sfgate.com/business/networth/article/1-million-city-S-F-median-home-price-hits-7-5626591....

The median price to own a home or condo in San Francisco just hit seven digits. Are you kidding me???
Which is why I moved from the Bay Area to Auburn.... about 150 miles away. I can still easily meet with clients in the Bay Area, when necessary, but I can have a 1979 home on 1.5 acres for less than 1/3 of that million dollar price tag. I moved here in 2001.

Ed

Jul 18th new

How long have you lived in Hayward that you are surprised? wink

I lived in San Mateo 1989-1997, moving there from Texas, where I had had 2300 square feet on a full acre. A similar property in CA would have cost me 10x as much. We rented a dump because it was 1/3 the cost of purchasing.

And then there were the folks who were "upside down" on their mortgages....

That whole situation was one of many reasons I left CA.


Jul 18th new
(quote) Marge-938695 said:

How long have you lived in Hayward that you are surprised?

I lived in San Mateo 1989-1997, moving there from Texas, where I had had 2300 square feet on a full acre. A similar property in CA would have cost me 10x as much. We rented a dump because it was 1/3 the cost of purchasing.

And then there were the folks who were "upside down" on their mortgages....

That whole situation was one of many reasons I left CA.


Indeed, Marge. Many folks in California are upside down with their mortgages in California, yet again.

Seattle is also an expensive place to live. In Portland, our housing market is about a third less than either area for the same size home and we have the best weather and the nicest scenery of the two. The commutes are a piece of cake compare to either of those, also. Add now we Catholics have an awesome archbishop!

I hear that Seattle will implement a $15/hr minimum wage law (city only). Again, more money for the dropouts and not respecting the segment that had to earn their way to a higher wage.

Jul 18th new
(quote) John-971967 said:

Indeed, Marge. Many folks in California are upside down with their mortgages in California, yet again.

Seattle is also an expensive place to live. In Portland, our housing market is about a third less than either area for the same size home and we have the best weather and the nicest scenery of the two. The commutes are a piece of cake compare to either of those, also. Add now we Catholics have an awesome archbishop!

I hear that Seattle will implement a $15/hr minimum wage law (city only). Again, more money for the dropouts and not respecting the segment that had to earn their way to a higher wage.

I predict that the new $15/hr. minimum wage for Seattle will be a big failure generally, and for all concerned. It will be an interesting test case, since neighboring cities do not have that additional ball and chain on their economies. I think that Seattle can expect higher unemployment for unskilled youth, and probably greater problems with them getting in trouble with the law. Businesses that must stay (e.g. fast food places, and such) will hire fewer workers and higher-skilled workers.... leaving the unskilled to fall off the bottom rung of the ladder. Seattle will lose tax revenue from businesses that move out of the city. It makes no sense for businesses to give extra pay for the same work.... and they won't do it. In a few years, the city leaders will wonder why their economy and budget is lagging behind neighboring cities. I doubt that few, if any, of the city officials that passed this law has ever signed the front side of a pay check, as they don't show much understanding of business.

It will be interesting to watch... since I don't live there.

Ed
Jul 18th new
(quote) Alex-314577 said: http://www.sfgate.com/business/networth/article/1-million-city-S-F-median-home-price-hits-7-5626591....

The median price to own a home or condo in San Francisco just hit seven digits. Are you kidding me???
Not sayin' that SF real estate is anywhere near the national average, but the key is "average" vs. "median". If I understood statistics class, the average is the sum total of entries divided by the number of entries.
The median, however is simply the number in the middle when the items are arranged in ascending order. A few really high priced houses can skew that median quite a bit higher compared to their impact on the average.
Any of the rich and famous recently put their SF mansions on the market?
Jul 18th new
(quote) Virginia-182942 said: A few really high priced houses can skew that median quite a bit higher compared to their impact on the average.
Other way around. A few $20 million mansions would skew the mean (arithmetic average) with virtually no impact on the median.

San Francisco sits on a peninsula that juts into the bay so space is very limited (Charleston, SC has astronomical real estate prices due to the same geographic limitations.) The suburban counties severely restrict the amount of land that can be developed for new housing subdivisions. So if you want to buy a home in the Bay area, your choices are constrained.
Jul 18th new
(quote) Christopher-1007273 said: Other way around. A few $20 million mansions would skew the mean (arithmetic average) with virtually no impact on the median.

San Francisco sits on a peninsula that juts into the bay so space is very limited (Charleston, SC has astronomical real estate prices due to the same geographic limitations.) The suburban counties severely restrict the amount of land that can be developed for new housing subdivisions. So if you want to buy a home in the Bay area, your choices are constrained.
Wow, good thing I put in that disclaimer, "IF I understood the statistics class..."
Virginia now retires to wash the egg off her face.
Jul 18th new
To give you an idea of how little space there is in San Francisco - the entire city would fit inside Denver International Airport (47 sq mi. vs 54 sq mi for the airport.)
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