Re:Silicon Valley exodus: Bay Area tech companies leaving fo...
by raldi on Tuesday December 15, 2020 @12:52PM
(#25432794)
The 1993 post you refer to: https://groups.google.com/forum/#!original/alt.folklore.comp...
Re:Silicon Valley exodus: Bay Area tech companies leaving fo...
by fossuser on Tuesday December 15, 2020 @01:56PM
(#25433614)
Yep, that was the one.
It’s nearly the exact same conversation you see today. It’s a little wild to me that they thought housing prices were high then.
It makes me wonder if in 2047 I’ll look back at this thread and think “only $2M - what were they complaining about? Can’t find a place today for less than $18M”
Re:Silicon Valley exodus: Bay Area tech companies leaving fo...
by easde on Tuesday December 15, 2020 @03:48PM
(#25435045)
Back then a software engineer at a well-known big company would make around $30-50k (not inflation adjusted). Combined with 1993's interest rates (~7%) $300k was quite steep.
Today the same engineer at a FAANG would make about $300k. Houses are about $2M and interest rates are about 2%, so relatively speaking things are cheaper. However, unlike in 1993, today's salaries are unlikely to grow by 10x over the next 30 years while the mortgage is paid off!
Though back then you could get a house in Cupertino for 300k?
It’s now $3M.
This has some effect and makes living here to start a company higher risk.