“they still live in mommy and daddys house”
The price of housing in places like Burlingame, California is insane - over $1,000/square foot.
The price of housing is insane anywhere in California.
I live in an old development thrown up quickly after the end of WW II - across the street, the development goes back to the 20s (sidewalks are stamped 1923).
The vast majority need tons of work - new electrical, plumbing and sewer pipes, flooring, dry wall, HVAC, etc.
You won’t find a home here under $1.5 million - and that doesn’t include the cost of mass renovations, most likely in the $200,000+ range. One home two doors down from me (a wreck inside according to my neighbors who went to the open house) listed for $1.3 million two weeks ago, sold in one day for $1.4 million - it is already being partially torn down.
It’s like this all over.
My son and his friends who make six figure incomes in the IT industry cannot afford to live here.