Re:Wealthy mortgage borrowers face cold shoulder from lenders
by alistairSH on Friday April 24, 2020 @01:46PM
(#22970922)
All (or most) of those are included in the COL estimates I've seen. Yes, the Bay Area is expensive. But, as best I can tell, the salaries (on average, per household) more than make up for it.
Trust me, I hear the same thing in discussions about DC area salaries and COL. Relative to the rest of the nation, software developers here have a high income and high COL, but the income more than makes up for it here too.
Re:Wealthy mortgage borrowers face cold shoulder from lenders
by war1025 on Friday April 24, 2020 @01:40PM
(#22970846)
> majority of the nation enjoys close to $1 a gal.
This is highly regional. We are currently at somewhere around $1.75/gallon.
Twenty miles away, though, has $0.99 / gallon.
Doesn't make sense to me.
- Gas: is still $3 a gallon here while a majority of the nation enjoys close to $1 a gal.
- State taxes: run close to 10% on professional salaries, most other states have 4-5% or no state taxes.
- Housing: This one is the big one, try finding a 3 bedroom house for less than $1M in the san jose/pennisula area, it just isn't possible (I am excluding parts of east san jose where housing is cheaper). A typical house in the US goes for roughly 350k. rent is no better, a 3 bdrm rental in a half decent area runs you 3.5k on up.
- Property taxes: this one is tied to housing, enjoy paying 1.5% a year forever on your $1M+ house, that is 15k+ a year