> They are all pretty much overpriced, crappy and old.
My SF condo is new.
> Seriously, take a closer look at the quality of the windows, walls, doors, floor, everything...it is all paper thin cheap stuff way overpriced.
Windows, walls, doors, and floor are all actually high quality in my condo. I haven't had any problems whatsoever with them.
> Not to consider taxes, earthquake and fire insurance.
I recently did some back of the envelope math on what my taxes would be in Texas (where I grew up), and the lower property tax rate here in SF (due to Prop 13) roughly compensates for the high CA income tax. It's pretty much a wash. The main difference is that property would be cheaper in Texas, so the tax rate would be lower, but for the same property value the taxes end up about the same.
> Cost of life, school, pre-school, daycare etc, they are all crazy expensive.
Aside from housing, cost of living isn't that different, at least if you don't have kids. Things you buy from Amazon cost the same. Maybe it'd be a different situation if I had children.
> Public transportation is nearly non-existent.
Compared to NYC or Europe? Sure. Compared to Texas? The transit here is a dream. I take the Muni (or walk) to work every day, and I don't own a car and don't plan on purchasing one.
> Traffic is insane.
SF traffic is nothing compared to Los Angeles or even Austin. Not having a commute helps.
> People who live in SF wake up at 5.30am/6.00am to catch the bus and commute to the Valley oO.
Not me.
> They spend at least 2hours if not more a day in traffic.
Not me, not by a long shot.
> The only thing that imo makes sense is to move there, save as much money as possible. Maximize your 401k and pension plan contributions.
I do that, but not because I want to move away (if I did, it'd be somewhere else in California most likely). Rather it's because I want to maximize my chances of staying, regardless of the economic situation in the future. I quite enjoy my quality of life.
> Get a new job every 2/3 years, so that you can increase your salary quickly + signing bonuses.
I've been working at the same place for a decade and enjoy it.
> Do this for ~10years and then move to a normal place where you could buy a super nice house in cash and then work remotely.
Aside from the fact that buying a house in cash is not necessarily a great idea even if you can afford it, no thanks. I actually like it here and don't want to move elsewhere. And it's easier to get jobs locally, and I'm obviously not planning on retiring anytime soon.