Bay Area hammered by loss of jobs: Lack of affordable housing strangles hiring

Re:Bay Area hammered by loss of jobs: Lack of affordable hou... by TuringNYC on Monday October 23, 2017 @01:47PM (#15535206)

I lived through the 2000 tech implosion and in 1999, people though things like this were reasonable.

Amongst people who think this is reasonable are probably

- Dual earners hoping to bite the bullet before it gets crazier

- Those with <8yrs experience who have never seen a downturn or jobs go dry

- Lawyers, VCs, etc to whom this is nothing.

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Re:Bay Area hammered by loss of jobs: Lack of affordable hou... by gnicholas on Monday October 23, 2017 @04:31PM (#15536715)

As a former lawyer, I can say that prices these days are high for lawyers and other service providers. Associates/employees are paid hourly so there's limited upside. You can buy a house on a single legal salary, but you won't have much cushion.

Law firm partners are in a much better position, but you can't make equity partner (not just "income partner", which is basically a glorified title they give so you can go get more clients) until you're about 40. And nobody wants to wait that long to buy a home.

Basically, "law firm partners" can be clumped together with VCs, since they both hold stakes in (hopefully) profitable businesses. But most lawyers are not partners.

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