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Article #137

Re: Will Bay Area pricing ever drop?

#137
From: Barry
Date: Tue, 21 Mar 2000 00:00
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I ran in to the same problem.  To set things in perspective:

I graduated/moved to the So. Bay in 1977.  The average house price in 
the Santa Clara Valley then was $77K.  'Starting wage for an engineer
was about $1,200/mo.  In 1980, I left.  'Average house cost was $220K then.
My wage was about $1,500 at the time.  'Couldn't get in to the housing market.

'Moved to the Roseville area and bought my first home for $71,000.

I visit the Bay Area twice a week to see my son.  I don't ever want to go
back there to live.  Overall, yes, the wages are about 15 to 20% higher.
'Gas prices are about 10% higher and home prices are about 100% higher.

What does that say about "standard of living".

I live on 3 acres, have a nice home, and paid just over 200K for it.
I'd be lucky to get a 2 bedroom, 25 year old condo in the Bay Area for that
price.

Yes, the B.A. has "culture". It's there when I want it for an hour and 40 
minute drive but I don't have to put up with the traffic and pressure
cooker life style.

It's all what your priorities are.  If you want "affordable", then you'll
have to move.  It's where the high tech jobs are.  'Limited room for 
residential expansion, which creates a housing shortage.  'Shortages 
increase prices.  'Basic economics.

I got out.
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From: Barry <barry@jasmine.psyber.com>
Subject: Re: Will Bay Area pricing ever drop?
Date: 2000/03/21
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