Just for some additional context here, look at average housing prices for a single-family home, not even something nice, I mean like 1000sqft 2/2 in a neighborhood without a drive-by shooting once per week. Calculate the mortgage payment on that with the current 7-8% rate. Calculate how much you bring home net on $150k after taxes. Now you’re on your way to seeing why that’s basically “low income” (technically $104k/yr for a single person living alone): https://www.sfchronicle.com/bayarea/article/low-income-media...

Wait until you find out about Prop 13 and how that new 80 year old $1.5m house you bought costs 10x in taxes what everyone else on the block pays because they got there in the 70s and 80s.