April 23, 2008

Living in the Bay Area makes you live longer!

Expect to live longer if you call Bay Area home – San Jose Mercury News
Maybe your exorbitant mortgage bill is worth it after all.

Silicon Valley residents have one of the highest life expectancy rates in the nation, with the average baby born in 1999 on track to live to 80, according to research appearing in today’s edition of the journal PLoS Medicine. On average, that’s eight years longer than their grandparents might live.

With stats like this, how can lenders not offer 40/50/60 year mortgages to the people in the Bay Area?

With stats like this, how can anyone afford not to live in the Bay Area? Think of the children! Who will take care of them if you die too early?

Sorry Ponce de Leon – you were way off mark. The Fountain of Youth is right here in Silicon Valley!

Thanks to Madhaus for this find!

Comments (47) -- Posted by: burbed @ 6:31 am

47 Responses to “Living in the Bay Area makes you live longer!”

  1. mrbogue Says:

    whats up gangsters.

    here is what those real bay area residents look like:

    http://i27.tinypic.com/2008kh.jpg

  2. Pralay Says:

    With stats like this, how can lenders not offer 40/50/60 year mortgages to the people in the Bay Area?
    —————-

    Hmmm, 60 years mortgage! That’s why I saw some real estate agents and lenders flocking in front of the elementary school in my neighborhood and distributing toys to kids.

  3. Pralay Says:

    And their flyer said “Don’t live with your parents. Buy home NOW and get the real freedom of your childhood”.

  4. RealEstater Says:

    There’s also a stat that says dog owners live longer.

    Guess what? Most dog owners are also home owners, since renters usually aren’t allowed to keep pets.

  5. MSG Says:

    The cause/effect of these statistics are flawed. Currently, the only state where the average lifespan is over 80 is Hawaii. I doubt it has much to do with sunshine, warmth, and clean air. It definitely has a lot to do with the high percentage of people that naturally have longer lifespans: Asians. As the demographics of the BA changes and shifts to more Asian people, naturally, the average lifespan should go up.

  6. Winston Says:

    RealEstater,

    There are plenty of rentals available for pet owners. I haven’t had any trouble finding a place to live for me, my 60 lb dog and my 120 lb dog. So I’m getting both benefit of living in the Bay Area and the benefit of having dogs for less than half price.

  7. RealEstater Says:

    Winston,

    The average lifespan in Santa Clara County is 80 years. As a dog owner, you will likely be above average. That’s more the reason to buy a house now, because after it’s been paid off, you’ll still be around for quite a while to enjoy living in it free and clear.

    Compare paying 60+ years of rent vs. 30 years of mortgage. No contest.

  8. Pralay Says:

    There are plenty of rentals available for pet owners.
    ————-

    Not only that, the study was about pet-owner (not dog-owner which is only a subset of pet-owners).

    And most of the apartments allow cats.

    And I haven’t come across any individual landlord who has issues with pet while renting his SFH/townhome.

  9. RealEstater Says:

    >>And most of the apartments allow cats.

    One of the reasons dog owners live longer is that when they take the dog out for a jog, they get the excercise for themselves. Cat owners don’t get that.

    >>And I haven’t come across any individual landlord who has issues with pet while renting his SFH/townhome.

    May be that’s because you don’t own a pet?

  10. Pralay Says:

    May be that’s because you don’t own a pet?
    ———–

    Why don’t you go through classified or craiglist and find out how landlord mentioned “pets not allowed”?

  11. Pralay Says:

    One of the reasons dog owners live longer is that when they take the dog out for a jog, they get the excercise for themselves. Cat owners don’t get that.
    ————–

    Why don’t you point out the study you are referring?

    And if that is a reason at all, all you need to do f**cking EXCERCISE. You don’t need to own a dog for that (and certainly not a home with inflated price). Hence it breaks down your amazing logic: “If you want to live longer, own a dog. And if you want to own a dog, own a home.” All you need to is to DO EXCERCISE.

    On the other hand, there are studies that actually companionship is what benefits – which reduces mental stress. In that respect, cat and dog are same.

  12. madhaus Says:

    On the other hand, there are studies that actually companionship is what benefits – which reduces mental stress. In that respect, cat and dog are same.

    I can’t think of a better way to increase my mental stress than signing on to a 60 year mortgage.

  13. Pralay Says:

    I can’t think of a better way to increase my mental stress than signing on to a 60 year mortgage.
    ———-

    That’s why everyone needs to start early, possibly in childhood (ref post #2). And I saw them giving away RealFrog toys (better than LeapFrog) that keeps saying “Good time to buy home now. Don’t get Priced Out Forever.“.

  14. RealEstater Says:

    Quote of the day:

    “cat and dog are same”

    Author: Pralay

  15. Pralay Says:

    Quote of the day:

    “cat and dog are same”

    Author: Pralay
    ———–

    Troll in action. The same troll was lecturing about comprehension skill two days back! :)

  16. RealEstater Says:

    Pralay,

    Have a sense of humour. It will help you live longer!

  17. RealEstater Says:

    Response to the troll:

    http://www.k9magazine.com/viewarticle.php?sid=15&aid=1773

    “DOG Owners Happier, Healthier & Live Longer”

    “”The ownership of a dog can also lead to increases in physical activity and facilitate the development of social contacts, which may enhance both physiological and psychological human health in a more indirect manner.”

  18. Pralay Says:

    Have a sense of humour. It will help you live longer!
    ———–

    You mean Jon Stewart’s “is your mother a whore” kind of “merely-asking” humor? :)

  19. Pralay Says:

    ”The ownership of a dog can also lead to increases in physical activity and facilitate the development of social contacts, which may enhance both physiological and psychological human health in a more indirect manner.”
    ———-

    Hmmmm! Something from a dog magazine!

    In any case, that establishes my earlier argument (post #11) – people just need to do f**king EXCERCISE.

  20. RealEstater Says:

    >>people just need to do f**king EXCERCISE.

    Fat people just need to lose weight.
    Smokers just need to stop smoking.
    Middle East just need to practice peace.
    Say, I like this. Renters just need to buy a house!

  21. madhaus Says:

    Renters just need to buy a house!

    Everyone really needs to see today’s Non Sequitur comic strip.

  22. Pralay Says:

    Everyone really needs to see today’s Non Sequitur comic strip.
    ———-

    The guy with beard looks familiar. I think I saw him somewhere – probably in “management class” neighborhood in PA.

  23. rick Says:

    Could it be simply that old people move to California?

    Hawaii and Florida will definitely be up there too.

  24. madhaus Says:

    Could it be simply that old people move to California? Hawaii and Florida will definitely be up there too.

    Don’t think so. Hawaii is the most expensive state in the union to live in. California’s up there too.

    Retirees like Florida because it doesn’t have a state income tax. Dunno about Hawaii but California has a high one. California retirees take their home equity and move somewhere cheaper. I bet there’s more out migration of older people from California than in.

    Okay, here’s some real stats: Census data. Go to Table 3 which ranks each state by percentage of over-65 people. Florida rules. California is always in the bottom fifth. But Hawaii is projected to move up from the middle toward the second fifth.

    Top six states with highest % of over 65 population, 2000 Census, average % is 12.4%:

    1. Florida (17.6%)
    2. Pennsylvania (15.6%)
    3. West Virginia (15.3%)
    4. Iowa (14,9%)
    5. North Dakota (14.7%)
    6. Rhode Island (14.5%)

    I’d say Florida is attracting older people, while the other states are losing younger people.

    Bottom six:

    45. California (10.6%)
    46. Texas (9.9%)
    47. Colorado (9.7%)
    48. Georgia (9.6%)
    49. Utah (8.5%)
    50. Alaska (5.7%)

    Utah is a special case: lots of kids deflate the older folks numbers. Alaska is a clear winner like Florida, well into its #50 position by almost 3 percentage points. Too cold for the old. California’s too expensive (and attracts the young), Texas is another destination for those fleeing the rustbucket states, as is Colorado. I can’t figure out why Georgia is so low.

  25. Real Estater Says:

    Quote of the day:

    “Retirees like Florida because it doesn’t have a state income tax. ”

    Must be a safety measure. People with no income really don’t want to pay income tax!

  26. Pralay Says:

    Must be a safety measure. People with no income really don’t want to pay income tax!
    ———-

    Don’t many states, including CA and excluding FL, consider pensions as taxable income? I am not sure about it but that’s what I heard.

  27. fremontrenter Says:

    When you retire you don’t have income from employment, but you do have income from 1. dividends 2. 401k withdrwals 3. interest. All states consider this as taxable income at the rates. Florida has 0% while CA is between 0 and 9 percent.

  28. fremontrenter Says:

    Forgot a few more

    Pension, Social Security. If you pull out money for vacation to europe from 401k, it all gets taxed as per the tax bracket in the state you live

  29. ex-sunnyvale-renter Says:

    MSG I’m with you on the Asians, especially if you include Indians in this. Also, a lot of the Caucasians in the BA aren’t Americans by birth, they’re immigrants from Europe. All of these groups are more used to walking, exercise, sports, a stroll after dinner, etc. And healthier diets. And they have cultural body images that are less accepting of being obese so they tend to restrain themselves a bit at meals.

    Before I left the BA I was walking around and doing some exercise a park near Palm (the Palm Pilot people) and the clientele of this little neighborhood park seemed to be about 80% non-Caucasian. Listening as I walked or jogged by, I’d notice the Caucasians were all Russians, Germans etc. Not saying regular old Americans never used that park, I just never saw any.

    There’s a whole range of choices in the BA of really crappy food to really good food, exercise or not exercise, and it’s interesting to see how different cultural groups make their choices.

  30. Pralay Says:

    MSG I’m with you on the Asians, especially if you include Indians in this.
    ———–

    I don’t know about Indians. People in India has much lower average lifespan that Americans. I think it is around 70 (actually in some area it is as low as 60 due to poverty, lack of medical facilities etc). Does their lifespan magically increase after they immigrate here? I am not sure about it.

    I think in the end it boils down to income/wealth. People with better income and wealth get regular health checkups (have insurance, or enough money to regular checkups etc). Rich people eat healthy foods. Poor people eat cheeseburger from MacD.

  31. Real Estater Says:

    >>MSG I’m with you on the Asians, especially if you include Indians in this.

    Indians are not Asians. These 2 groups have different habits in most aspects, except they both like to do tech. Their approaches to real estate are different too. Typically I see Asians make it a goal to become homeowners, while Indians don’t seem to understand real estate, and a lot of them stay as apartment dwellers for long periods of time. If you go to the high end places like Hillsborough and Palo Alto, you see a noticeable number of Asians, but not many Indians. If you go to the cities with high concentration of apartments, such as parts of Fremont and Sunnyvale, you’d see a large population of Indians gather there.

  32. madhaus Says:

    Indians are not Asians? Somebody must have flunked a geography class.

  33. Renter4 Says:

    I actually think that he might be right to some extent about the spending habits of East vs. South Asians. Most of the latter that I’ve met are immigrants rather than 1st or 2nd generation… My *very* vague impression is many of the East Asians I know were helped out on the down payment by their parents, who emigrated in 1970 or whenever, and that many South Asians like myself are still building up that cushion. This is just anecdata, though, who knows if there is a real diff and if so what it is.

  34. madhaus Says:

    Renter4, I agree with you from what I’ve seen of East vs South Asians — but both of them are Asians, and it was there that I took the cheap & easy shot.

    Without snark, this site would be priced out forever.

  35. Renter4 Says:

    No, no, absolutely, snark on, by all means.

    I just sort of wanted to gesture at the implication that at some point in the last 20 –30 years someone like RE probably sneered at the parents of these good East Asian house buyers for looking kind of cheap, because they were saving for their kids’ future.

  36. Pralay Says:

    My *very* vague impression is many of the East Asians I know were helped out on the down payment by their parents, who emigrated in 1970 or whenever, and that many South Asians like myself are still building up that cushion.
    ————-

    Exactly. East Asians (predominantly from China) has very old root in California. Some of them immigrated here for all the railroads works in late 19th century and early 20th century, including Leland Stanford’s time. That way their California heritage older than many Caucasians/Europeans here (for very same reason it’s unfair to call them “Asian”).

    On the other hand, you take out all the South Asian (mainly from Indian subcontinent) who are immigrated between 1995-2008 from bay area, you will hardly see in Indian face here.

    Just ask yourself in 1990 how many Indian faces you have seen in Bay area and how many East Asian faces you have seen. Basically we are talking about two immigrant communities – one immigrated mainly in last two decades and another as old as 100 years back.

    So it’s no wonder that you will see a huge contrast between the assets they own – including real estates.

  37. Pralay Says:

    Indians are not Asians? Somebody must have flunked a geography class.
    ———

    That’s the dilemma I always face while ticking check-boxes in various govt survey forms. In general many the new forms has two separate categories “South Asian/East Indian” and “Asian”. There I checkbox former one. But if there is only option “Asian”, I checkbox that option.

    In general American people refer “Asian” as only East Asian. Some years back I had a colleague from India who had some East Asian appearance. Another colleague was commenting “You are from India? But you look Asian!” :)

  38. Pralay Says:

    My *very* vague impression is many of the East Asians I know were helped out on the down payment by their parents, who emigrated in 1970 or whenever, and that many South Asians like myself are still building up that cushion. This is just anecdata, though, who knows if there is a real diff and if so what it is.
    ————-

    BTW, I forgot to address the real estate “culture” of these two communities.
    Coming from India, I know, like many Asian (East Asian) owning real estate is very important for Indians too. If you don’t own real estate and gold, you would not be considered “successful in life”, no matter how much salary you earn, and how many stocks and other assets you have. Period.

    Before globalization and open-door economic policies (pre-1990 period when India was more aligned to Soviet Union), there were not much investment options for middle class people in India. On the top of that there were skyrocketing inflation (it is still 7+% in India, officially). So you have only few options
    – own real estate
    – own gold
    – buying various govt managed provident fund policies.

    And I think it is true for not just India, but true for many third world countries – including many “Asian” countries. So, I think you get the idea why owning real estate is such an important thing for Indians. It is not really “cultural” thing, as RealEstater is trying to portray. It’s more of a socio-economic thing.

    So whatever Cupertino homes are selling in inflated price – it’s not that Indians are less responsible than Asians. They both have same goal: “Have to own A HOME and it has be in good school district for the sake of kids.”

  39. madhaus Says:

    Umm, somehow I think you’re leaving something out. Why is July 1st, 1997 important? Free hint: Hong Kong.

    Percentage of Asians in Cupertino:

    1970: 2.8% (500 of 18,000, of which biggest % was Japanese)
    1980: 6.7% (2200 of 34,000, includes Asian Indians, Chinese & Japanese both 2.6%)
    1990: 23% (9300 of 40,000. Chinese now 13.2%, next biggest group is Japanese, 4.5%)
    2000: 44.6% (22,000 of 50,000) Different groups no longer specified. 3.1% in addition considered themselves of two or more races.

    Source: US Census, via Bay Area Census

  40. RealEstater Says:

    >>Exactly. East Asians (predominantly from China) has very old root in California. Some of them immigrated here for all the railroads works in late 19th century and early 20th century

    Pralay,

    If you go to Cupertino, you will be hard pressed to find any Asian whose ancestors came from that heritage. The old immigrants are mostly in San Francisco/China Town; I’ve never heard of Chinese immigrants being rooted in Cupertino as a part of Asian American history.

    You’ll be disappointed, but I must tell you those folks are recent immigrants just like you.

  41. RealEstater Says:

    OK, guys, how about this: Indians are not “real” Asians. This is why government forms have a different check box for this group, as Pralay has seen.

  42. Pralay Says:

    If you go to Cupertino, you will be hard pressed to find any Asian whose ancestors came from that heritage. The old immigrants are mostly in San Francisco/China Town; I’ve never heard of Chinese immigrants being rooted in Cupertino as a part of Asian American history.

    You’ll be disappointed, but I must tell you those folks are recent immigrants just like you.
    ————-

    RE,
    Just read the quote from Renter4 to find what part I am responding to. I was not talking about specific to Cupertino. Cupertino has lots of Indians too. That 44% what Madhaus mentioned – that includes Indians too.

    That makes your whole point mute.

  43. Real Estater Says:

    Madhaus,

    From your observation, what percentage of people in Cupertino are Indians vs. Asians?

  44. madhaus Says:

    RE, I noticed different mixes. The whites are older (kids grown and gone), the Chinese & Indians more likely to have families. From the school, I see an even mix of all 3 groups but I’m not the one taking the census. I believe CUSD is majority East Asian but each school has a different mix. You’d find the most in the Monte Vista school district.

    In my immediate neighborhood I see the same thing. Few Chinese on our block and I seriously believe it’s because of the 4 in all the house numbers. There is only one rental on our street and it always goes to Japanese or Israelis.

    Oh yeah, I forgot to mention the Israelis, lots of them at school too.

  45. Pralay Says:

    The whites are older (kids grown and gone), the Chinese & Indians more likely to have families.
    ———

    Madhaus,
    Whatever the mix, it definitely does not support RE’s silly argument (and quite off-topic) in at post #31.

    Whatever the ratio, it only shows that certain ethnic group is concentrated in certain areas/cities. That does not mean “ethnic X people don’t get it”.

    And many Indians renting in Sunnyvale? That has more to do with H1/L1 visa than anything else.

  46. Renter4 Says:

    The old immigrants are mostly in San Francisco/China Town.

    The question is not where the immigrants themselves stayed; it’s where their kids went. Anyway I would bet good money that this is not true.

  47. Renter4 Says:

    Oh and for god’s sake: the reason the checkboxes are separate is that the ethnicities are different. If you are distinguishing between ethnicities for some reason then you don’t shove them all together by continent.


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