Who the F is buying these 2-3M houses??
Literally work at one of the highest paying companies in the world, median pay for a Googler is 200something thousand... There is no way you can pay over 10x your income on a house. Even with dual income it's still too much. Who is buying these ???
G comp is a joke that's why
People who have had an exit from their own startup, had a liquidity event as an early employee at one, or joined the big tech companies early and enjoyed the stock appreciation. My guess is that none of these houses are seeing 20% down payment. My guess is they are closer to 40-70% hence making the monthly costs lower.
I've been seeing a LOT of foreign money, and they are buying ALL cash. It's ludicrous, and I don't see an end in sight. Even if there's dual tech couple, I would've guessed there's not THAT many of them. Seems like I'm wrong.
True. A lot of properties are zapped up by cash laden Chinese investors. In China, you cannot buy a property only lease it to a max of 70 years or something. So they find it a better alternative to buy up properties in US/Canada etc. Sad reality for locals as a lot of these properties stay empty.
Most Asian countries require you to be a national citizen to purchase property. Too bad we don't do that here.
People that got lucky with stock appreciation for one. Imagine you're 40, 15 YOE with stock left over from your early years.
I’m certainly hoping someone would. I’m selling one
What zipcode
The average pay is 200 but plenty of people at goog making 500 to 3m a year. They buy them. Also people have several sources of income, not just a job lol. Many also start smaller and work up by buying a first house under 2m and growing from there. 2m is less than 10k a month :)
This is why people love Austin. Fuck that BA COL.You wanna raise a family in an apartment, live that dream.
Or just make more money and buy a nice house :)
What jobs pay enough for the house tho? That's kinda my point. Median employee at Google /FB is only 200 something, which isn't enough for that house. These are two of the top companies here. So if it's not here, then where such they I can afford a house ?
😂
And now imagine the stock prices go down by 50%. How long can you pay this mortgage without RSUs?