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by letsdothisagain
1186 days ago
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Really? I'm in a similar situation outside of Vancouver and my house price doubled since I bought it. The salary we pay for the position that I used to purchase it went up maybe 10% in the meantime, while the financing costs went up by 100%. You don't really need a graph to understand that change... Good on you for fucking with the NIMBYs though, they're the reason house prices went up by an insane amount. |
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My house, on a 30-year, 10% down, if bought today at the Zillow valuation + my property taxes and insurance, would be about $3800/month. That is absolutely not nothing, but the same square footage in Alameda, CA--a better substitute in some ways, esp. re: transit--is in the $1mil to $1.25mil range, which would be more like $7500/month (if you could make the 10% down at all).
Given that staff+ compensation in the Boston area is pretty reliably north of $200K these days, these are much friendlier numbers. And again, Boston is still an expensive area! There's lots of places in the country that are cheaper. I use Boston as an example because even on the edge of the suburbs there's still decent-to-good public transit. Go just down the road to Providence, which has a thriving local scene of its own and is still on the commuter rail to Boston but otherwise kinda lacks local public transit, and you can get a house like mine that's roughly as walkable to the basics (restaurants, supermarkets, etc.) for like $380K. And if your job is in Boston you can still be at South Station in under an hour and a half of sitting on a train that, IMO, beats BART and CalTrain pretty solidly, let alone driving (which I've known a lot of people, historically, to do from Providence--and that seemed awful).
Me, I work mostly-remote, so I'm not tied to being here in the first place. I just like it here. But realizing that there are significant options is important.