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Comment by notadoc | Hacker News Reader

This is obviously a regional phenomena.

In the bay area, a small starter home is $2 million.

In Seattle, a small starter home in a half-decent area is $700,000

In Portland, a small starter home in a half-decent area is $500,000

The price to income ratio is way off in any half-desirable west coast city or suburb, whether you save for the downpayment or not doesn't matter if the average income won't support the payment. It's also going to take quite some time for most people to save for a down payment at those house prices, unless they get a boost from options, RSUs, maybe the Bank of Rich Mom & Dad, etc.

Meanwhile in Greenbay Wisconsin or any other midwestern city, starter homes are $120,000 or so. Go to the south, and the costs are even less.

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> In the bay area, a small starter home is $2 million.

wrong. I live in the BA and you can get a reasonably nice 3/2 for between 600-800. Not in SF proper, but just a bit North, still in the BA. And if you go a bit further out to Vallejo or Fairfield, you can get a house for 400-500. Totally doable.

Also, I bought my first home in 2005 way outside the BA in Tahoe because it was all I could afford, but I still ownd it and got all the tax benefits. I could also rent it out, save more money and trade up later.

You just have to work a bit smarter and harder, and stop complaining.

You commuted from Tahoe to the bay area?

> And if you go a bit further out to Vallejo or Fairfield

Do you consider a 130 mile roundtrip commute reasonable?

Anyway, it's nice to know you can live in the extended region for much less than Seattle or Portland, both of which are totally overpriced and overrated with terrible weather.

No, I only owned property in Tahoe, and continued to rent my primary residence. My point is that I was a "homeowner".

Not sure where you are commuting to, but from Vallejo to SF is only 30 miles, and yes, I did it. If you are on the peninsula I would not consider Vallejo, but then there are other places further South that are probably also similarly priced.

> In Seattle, a small starter home in a half-decent area is $700,000

I closed on a house 6 months ago on a $375K house in Seattle. New townhouse, with direct access to downtown in 30 minutes. The deals are out there, just have to look for them.

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