For me the big problem is the purchase prices. I’m not going to get a six-figure windfall; my parents are low-income and can’t provide down payment assistance, and I don’t work for FAANG and thus I have no RSUs, instead relying on salary and annual bonuses. It will take me over a decade to save even $100k, which isn’t enough for a down payment. Then there are the actual mortgage payments.
I see the writing on the wall. I will need to leave Silicon Valley eventually, barring either a major drop in housing prices or a major rise in my compensation. I have no idea where I’d move to; I’m a lifelong Californian who was raised in Sacramento and whose only significant periods of time out of state were in Tokyo (eight months) and Seattle (one summer). But a move is looking inevitable.