Great San Fran REI article

[Federico Gutierrez]

Personally it amazes me how people can sustain the cost of living in San Fran.

I came across this article and had to get a crowd opinion. http://www.vice.com/read/the-cheapest-house-in-san...

I know that the cost of housing in Sydney, Aus was terrible but I think San Fran just jumped to no#1. There are still outside markets in the US where housing affordability is at an all time high, rents are continuously increasing and the cost of living is some of the lowest in the country and it won't cost you an arm and leg to get in there.

[Account Closed]

@Federico Gutierrez,

3% commission on that piece of crap is $10,500.  An average home price in San Francisco is over $1MM.  2.5% commission is $25k/transaction.  See how easy it is to mint $$ in the Bay Area?  How many homes do you have to sell in Cleveland to make $25k?  Same effort, but making a lot more money/transaction.   

Say the DELTA cost of housing between Cleveland and San Francisco is $3k/month on rent, and everything else being equal.  If you can sell 10 houses/year in SF, you're golden.  Selling 10 houses/year in Cleveland and you're still living in the poor house.  Sometimes, one just has to dare to think bigger.

People vote with their checkbook.  Apparently they are willing, or not, to pay $3,500/month for a 1-bedroom in San Francisco.  New York came in 2nd with a rent price of $3,160/month for a 1-bedroom.  Ouch!

As @Jay Hinrichs stated above, other first world countries make real estate in the U.S.A seem like a bargain.  People don't appreciate what they have until they no longer have it.  I appreciate this beautiful country everyday.  This is the land of many many opportunities.  The Silicon Valley is filled with opportunities for those who are willing to grab life by the horns and making it big.  Keep dreaming, innovating an changing the world everyone.

Cheers.