$2,800,000 for a 1,500sq. ‘ home in Silicon Valley !!

[matthewsx]

How unfair is that!
...it should NOT be available to anyone.
Sure, leave an inheritance if you can and choose to, but NO ONE should be allowed to leave a debt!


Bear, you have summed up my (and my sons) current situation here too.
Two sons, both have graduated university, both now have good jobs and are living with us!

I know they do not want to still be here, and they they deserve to "spread their wings".
No hard feelings; I will really miss them when they do leave, I am in no rush for them to leave and want them to be able to save up a down payment, but I also really don't want them to buy a $500K house that's really only worth $300K, at best.

It's tough to offer any advice to them when they live in such a different world than I did at their age.......

Brian

China is a very different place and culture than North America.

 

[Craig1514]

Are wages really low?
A working man's home in Northern CA, where I live is around $350-$400,000.
The closer you get to the bay area prices sky rocket.
Even in Sacramento property has really gone up.

Generally they are fairly low, as is the cost of living. I worked for FedEx so my compensation was decent. I live about 40 miles from Memphis TN. A million here will buy a nice 6000 sq ft house on 60-70 acres. I have 3 acres, about 2400 sq ft, it’s probably a little north of 100K in value. People seem nice generally. It wasn’t my dream, but i feel blessed.

 

[erikmannie]

A 500 square foot home on Duncan Dr. in Monte Rio, CA just sold for $900,000.00. Believe it or not, it is a bit of a fixer upper.

The real estate agent said that people are taking their money out of the stock market, & using the money to buy houses to rent on Airbnb.

 

[Janderso]

Well, I guess home is where you hang your hat