Re:Man returns to his family's Connecticut lot to discover $...
by wahern on Thursday August 03, 2023 @12:35AM
(#36981408)
> the fact that that flimsy wooden box would sell for 1.4 million is the crime affecting the entire population.
The median (and mean) household income in Fairfield, CT is 10-20% above San Francisco. On a square footage basis prices are substantially lower than SF, though. It's all just supply & demand. (Also, to be clear, the $1.4m was listing price, including land, not cost.)
And in markets like this people working in the trades are often in the game as well. In San Francisco a contractor (plumber, electrician, painter, remodeler) of a certain age might very well own half a dozen properties across the city, with several million in assets. (Why do some still work? The trades still pay like $100/hour minimum!) The boom times were the 1970s to early 2000s, but especially for certain communities (Asian, Russian, Irish--San Francisco still sees a surprisingly steady flow of immigration from Ireland) both the trades and real estate still play a significant role in community wealth.
The median (and mean) household income in Fairfield, CT is 10-20% above San Francisco. On a square footage basis prices are substantially lower than SF, though. It's all just supply & demand. (Also, to be clear, the $1.4m was listing price, including land, not cost.)
And in markets like this people working in the trades are often in the game as well. In San Francisco a contractor (plumber, electrician, painter, remodeler) of a certain age might very well own half a dozen properties across the city, with several million in assets. (Why do some still work? The trades still pay like $100/hour minimum!) The boom times were the 1970s to early 2000s, but especially for certain communities (Asian, Russian, Irish--San Francisco still sees a surprisingly steady flow of immigration from Ireland) both the trades and real estate still play a significant role in community wealth.