cantbuyahouse

Right, this throwaway account is misnamed. My point is not that I can't buy a house, because I could easily move further away or move somewhere with lousy schools or get a small condo. It's that the majority of houses in the city we live in are out of our reach, despite how well off we are (median price in MV is > $1M). And so it boggles my mind how there are enough people in perpetuity to maintain these prices.

That would work out to $6600 a month for mortgage, insurance, and property tax. Or over half of our take home pay.

Not SF, but my wife and I are trying to buy a house in Silicon Valley. I can't imagine how this market is sustainable, but all the evidence is that there is no hope for improvement. It's disheartening to say the least.

My wife and I are ~30 years old, have $500k in cash saved, and our combined salary is ~230k. So we are in the upper upper range of earners, and not looking for sympathy. But even with that, we are unable to buy a house or townhouse in mid-range neighborhoods here. The houses all go for 1.3-1.5 M. I don't see that ever being feasible for us.

I don't know that I have a point, other than an anecdote of what this looks like on the ground. I know we could commute or move to a lesser area, but how are there enough people to maintain the volume of ongoing purchases of all these $1.5M houses?