February 23, 2008

San Francisco median homes need an annual income of $196,878

Stimulus Plan Aids Buyers of High-Priced Homes – New York Times
Prices are still high; the California Budget Project, a public policy advocacy group, estimated that a family would need an annual income of $196,878 to afford the median-priced home in San Francisco.

Excellent. I know that some whiny people are trying to spin this as a bad thing – but frankly, I don’t see how that could be. The higher the number the better!

Personally, I hope to see this go to $250,000 next year… and $300,000 by end of 2011. Then finally the Bay Area has a chance of beating our #1 competitor: Manhattan!

Let’s focus! Quick! Everyone to their 0 down, option arm battle stations!

We’re already on track by some benchmarks:

We’ve already crushed Long Island and Honolulu and most of SoCal – all fake expensive places to live. I wish the NY Times would’ve broken out Manhattan separately so we could see the target, instead of hiding it with the Bronx, Queens, and Hoboken.

We’re getting closer…

Comments (4) -- Posted by: burbed @ 3:46 pm

4 Responses to “San Francisco median homes need an annual income of $196,878”

  1. ex-sunnyvale-renter Says:

    Yay San Hosebag/Slummyvale are No. 1!!

    All you need to do is put 20 people in a house, and at the $10k a year MOST of the population is making, the house become affordable! Make sure there’s parking for the 5-10 cars and room for the nest of bicycles.

  2. Jim D Says:

    Remember the secret: marry an Asian engineer!

  3. ex-sunnyvale-renter Says:

    But you’d better BE an Asian engineer!

    Two ways to do this:

    (1) Be an engineer, married to one, or something else good – doctor, hell TRAIN engineer, CalTrain pays good. No debt, Cook at home. No expensive habits. No new cars, Thrifty, thrifty, thrifty. Then yeah you can do it.

    (2) Wait 2 years when that house will be around $100k. Be a hustler with a banjo. Collect cans. Also, all the stuff from “no debt” above on.

  4. Incognito Says:

    Where are the zero down option arms cause I need some?

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