Re:The Rise of Bay Area Rents
by jmathai on Thursday September 19, 2013 @03:24AM
(#6410317)
But it's not like these people are stuck here. Most of them could get a job in many different areas of the US and abroad.
It's supply and demand. There's limited supply (SV doesn't build UP like NYC) and a lot of demand (plenty of high income folks).
I agree that rent is high. I'm paying 2x as much to rent a 3bdr/1bath home in Sunnyvale than I was paying for a mortgage on a 4 bdrm/2.5 bath home in Cincinnati. I'd probably be willing to go up to 3x (and might actually have to do so).
I'm not playing the options lottery (though I'm 2 years into founding a startup). I very much like living here and hope I don't find myself back in Cincinnati (nothing against the city, just not my cup of tea).
It's supply and demand. There's limited supply (SV doesn't build UP like NYC) and a lot of demand (plenty of high income folks).
I agree that rent is high. I'm paying 2x as much to rent a 3bdr/1bath home in Sunnyvale than I was paying for a mortgage on a 4 bdrm/2.5 bath home in Cincinnati. I'd probably be willing to go up to 3x (and might actually have to do so).
I'm not playing the options lottery (though I'm 2 years into founding a startup). I very much like living here and hope I don't find myself back in Cincinnati (nothing against the city, just not my cup of tea).