Tech Industry
Yesterday
1052
I haven’t done shit today!
Tech Industry
Yesterday
3092
Avoid teams with only Chinese or Indians especially with a Chinese/Indian manager
India
Yesterday
266
Heard congress distributing wealth
Tech Industry
Yesterday
463
TikTok Ban Poll
Tech Industry
2d
41385
Worried that our top performer is an attrition risk. How do managers handle this?
I’ve been house-shopping in South Bay at Zillow and see that they forecast home prices to go down until at least mid-2020. But my guts tell me prices will only go up with a lot of companies going IPO this year. I have $540k in savings and looking to do down payment of $500k on a $900k 2bd, and rent out one bedroom. TC is $215k and base is $160k. Should I buy now, or keep renting till next year and see what happens next?
If anyone knew they’d be making millions in housing futures instead of posting it here
If it is for investment purpose, wait till recession hits. You can buy that $900k house with your current savings. All cash. If it is going to be your primary residence, it doesn’t make sense to wait especially when you are ready.
Recession? 😂🤣 prices are only going up. There might be a slight correction but look at the housing data over the past decades. Companies here continue to hire and build new offices, market is fine, housing builds are not anywhere near workforce growth.
I guess you have been in this industry less than a decade. Optimistic is good but do not over confidence. At the end, do whatever you think it sounds.
That being said buy when your professional and social life are stable enough so that you stay long enough that buying outweighs renting in expectation
If you plan to own for a long time and continue to rent a room yes, buy yesterday. Also no reason to do more than 20%. Invest the rest.
How long is long?
Let's say 7+ years
Seriously.. how the hell did you make 540k in savings...
You can buy in Seattle and rent it out and make much more in rent for same price home. Use the rental income to rent in Bay area.
The numbers won’t add up 1. Rent in Seattle is cheaper than Bay Area. So you have to pay the difference. 2. Your place may have a HOA that will eat a big part of your monthly rent 3. If you are remote, property manager will take a 10% cut of your rental income. Else be prepared to do “bathroom is leaking” kind of issue from your tenant. 4. Pay taxes on your rental income. After all this, do you think there will still be enough to pay your Bay Area rent?
Please fucking don't
I concur with public2. 540k in savings??? How ?
You should ask his YOE. Probably 10+
That’s a lot of savings. Are you if of those guys wearing costco shoes and eating ramen for lunch? Joke aside, if you plan on living here for awhile (+10 years) you should buy. There’s more to owning a house than paper numbers. Eg no landlord bullying, predictability etc. Stay away from Hoa if you can Good luck
You’re probably right 😉
Not everyone spends every nickel earned...
I recommend buying. You are setting yourself up to accumulate equity that way, even if it is only ~$500/ month or so, it adds up. Also, owning gives you the flexibility to do what you want with your space. It seems like your down payment is rather high, I would seriously consider going with 20% down payment at these interest rates.
If I put higher down payment, I will pay lower interest. So cumulatively I will spend less money on the house. Isn’t that better
Well the cost of the money you put in is worth considering. For instance if you get home loan at 4% you should consider whether you could earn more than that in another investment: for instance an REIT might earn 7-10%. So you could earn more by using the banks cheap money rather than your own.
1. How the hell you have that much savings with your tc? 2. Why not just a 1bdrm? 3. Do what you want. Renting will almost always be the better option in the Bay area unless your considering the very long term
Can you explain why renting is always the better option ?
Renting is never the better option unless you're building your own home.. wtf