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Bay Area Housing: Mortgage on Typical Home Now $9,100 in San Jose, $8,100 in SF
NBC Bay Area ^ | 6/21/2022 | By NBC Bay Area staff

Posted on 06/22/2022 11:13:16 AM PDT by NohSpinZone

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To: NohSpinZone

$9,100 a month isn’t nearly enough to persuade me to live in California. What?, that’s what I would have to pay to have a house there? Bwahahahahahaha!!


21 posted on 06/22/2022 12:07:55 PM PDT by noiseman (The only thing necessary for the triumph of evil is for good men to do nothing.)
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To: NohSpinZone

How much is the taxes on those typical homes?-)


22 posted on 06/22/2022 12:11:17 PM PDT by Harpotoo (Being a socialist is a lot easier than having to WORK like the rest of US:-))
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To: T.B. Yoits
Greedy? The top buyer determines the price.

You won't get many top buyers when homes are priced way over what comparable homes fetch in the neighborhood. It is pure greed by some sellers. The home across the street has 3 bedrooms and 1 bathroom. They were asking several hundred thousand over what our home and others on the block would fetch. We have 3 bedrooms and 2 bathrooms, as well as several additions that they lack, and we have twice the acreage and a view. I and several neighbors commented that they wouldn't sell at that price, and the owner has reduced the price a couple times because no one would bother looking during open house days. Only a fool would buy a home at a price beyond what a comparable home in the neighborhood is asking.

We're in the process of looking at homes for sale with our daughter who is looking to buy. She is no fool, and walks away from greedy open houses. The ones that are reasonable get requests by her for disclosure letters. Homes that are reasonably priced, often have hidden problems revealed in the disclosures that would cost a couple hundred thousand to fix, and she walks away from those as well.

23 posted on 06/22/2022 12:12:26 PM PDT by roadcat
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To: Organic Panic

I recently got an offer to move back to the Bay Area for a 50% increase plus a 50k signing bonus.
I turned it down as making that much and living in a 1br apartment with SV traffic is NOT living.


24 posted on 06/22/2022 12:23:10 PM PDT by Zathras
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To: roadcat

What is a “greedy seller”? Its called the fair market. Would you refuse to raise the price of your house as the market went up because you didn’t want to be a greedy seller?


25 posted on 06/22/2022 12:33:32 PM PDT by bigdaddy45
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To: Harpotoo

Property taxes would be approx 1.25% of price paid for home...

1% for Prop 13 & the rest for local bond issues, etc.


26 posted on 06/22/2022 12:35:29 PM PDT by ridesthemiles
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To: bigdaddy45
What is a “greedy seller”?

I already explained what a greedy seller is. If you refuse to understand that an overpriced item doesn't get sold because of greed, then I can't help you. 5 years ago my wife sold her mother's home in San Francisco; she priced it at the going rate for comparable homes sold in the neighborhood, and the home sold for $300,000 over asking price within a week from multiple bids. That wasn't greed. A seller asking twice that over a reasonable price, up front, is greedy and most likely will not find a buyer.

27 posted on 06/22/2022 12:44:26 PM PDT by roadcat
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To: NohSpinZone

Excellent news!
Stinking communist bastards deserve even higher payments...


28 posted on 06/22/2022 12:44:35 PM PDT by SuperLuminal
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To: PGR88

I’d hear they have a saying for ordinary people who work on these cities and want to find a place to live. Start from your workplace, head out of town, and “drive till you qualify.”


29 posted on 06/22/2022 1:03:55 PM PDT by hinckley buzzard ( Resist the narrative.)
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To: NohSpinZone

So much for the H1B1 program — those underpaid “skilled workers” from India can’t afford to live here anymore. I’ve noticed that even Mexico City answers my phone calls to Corporate America, much less Bangalore and Manilla. (I always ask the agents where they’re from.)

Pretty soon the only people left in Mexico will be working for some US call center to support the rest of the Mexicans who are in the US and are pissed off at Comcast or ATT over crappy internet connections.


30 posted on 06/22/2022 1:22:18 PM PDT by nicollo (the rule of law is not arbitrary)
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To: NohSpinZone

What is the Bay Area? There are a lot of Bays around


31 posted on 06/22/2022 1:49:03 PM PDT by Karoo
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To: Organic Panic

“I have family that lives in Palo Alto. Just a few miles from Stanford. People rent tents in back yards and houses around facebook and google have dozens of foreign workers living in them. Reminds me of “hot racking” in the navy. I had a job offer there and laughed when he said the pay was $150k a year. “But we have stock options.”

North of gay Frisco,4-5 decades ago, people of all colors races often made their garages into basic places to sleep for illegals.

Now, they do the same for legal tech workers.


32 posted on 06/22/2022 2:13:50 PM PDT by Grampa Dave (Has anyone, recently, seen a Biden sticker on any vehicle and in particular at/in a gas station!!!)
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To: NohSpinZone

$9100/month = $109,200/year = @ $110k.

If mortgage = 34% post-tax income, then post-tax income = $110k/.34 = @$323k.

Add a 30 % federal/state/local tax allowance: $323k + $96.9k = $419.9k pre-tax annual income.

This, of course, is household gross income.

Note that the average monthly rent cited in the article is nowhere near the average monthly mortgage payment. I’m guessing the rent payment reflects market realities and goes towards taking some of the sting out of paying the full mortgage.


33 posted on 06/22/2022 2:31:19 PM PDT by Captain Rhino (Determined effort today forges tomorrow.)
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To: NohSpinZone

I never understood how some people can afford all the things they have and have any savings.

Neither can Frank Grimes.

The Simpsons - Homer’s Enemy - Frank Grimes comes to dinner
https://www.youtube.com/watch?v=axHoy0hnQy8

The Simpsons: Frank Grimes Death + Funeral
https://www.youtube.com/watch?v=XbFTmrKEkf4


34 posted on 06/22/2022 2:48:21 PM PDT by minnesota_bound (Need more money to buy everything now)
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To: NohSpinZone

Mr. GG2’s daughter and SIL bought a 50 year old ranch for $1.1 million a few years ago. I ball parked their mortgage at that time as around $5,800 PITI. The SIL makes really good money in one of those silicon valley start ups but if he loses that job they are toast.


35 posted on 06/22/2022 3:37:56 PM PDT by Georgia Girl 2 (The only purpose of a pistol is to fight your way back to the rifle you should never have dropped)
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To: ridesthemiles

So for the typical Home taxes prior to all other bills is $9K. Well seems to be cheaper than NYC and LI!


36 posted on 06/23/2022 9:39:40 AM PDT by Harpotoo (Being a socialist is a lot easier than having to WORK like the rest of US:-))
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To: BiglyCommentary

true, but what are the property taxes for a house in Dallas/Fort-Worth valued at $1.7 million.


37 posted on 06/27/2022 5:14:13 PM PDT by millenial4freedom (We are literally paying politicians, many of whom weren't dutifully elected, to worsen our lives!)
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