If you work in silicon valley, how many opportunities are there to have an equity stake in a high tech company? I mean is this a common thing for the average college grad who gets hired to write code? Or is that advice good for like 100 people. I am trying to figure out what that high tech economy looks like. Is it highly layered, with the average coder working their ass off making a decent, but not extraordinary income, with the real riches reserved for a vastly smaller group who owns the company and has venture capital behind them?
$50,137 East Palo Alto
To folks that don't know and to put it in context, [parts of] Oakland are fairly dangerous place to live and for sure not placed you'd want to walk outside at night.
I paid 42% of my income this past tax year.
In Vancouver the average household income is $83,330. The average bungalow costs $1,013,750. To buy it and not pay high-ratio mortgage insurance requires $223,025 in cash, and a mortgage of $811,000. At 3% that eats $3,850 a month. With insurance, property tax and a little maintenance, the nut climbs to about $4,500.
So, to buy the average Van bung with conventional financing you need a quarter million in cash, and then $54,000 a year. After-tax, an income of $83,330 in BC yields $64,568. This means the average family buying the average bungalow is left with $830 a month for food, clothing, transportation, utilities, medical expenses and as much alcohol as possible. There’s no money left for investing, retirement or saving. Which probably means the average family could never save $223,025 for a down payment.
samofidelis, it’s pretty normal to take local cost of living into account when gauging the relative magnitude of amounts of money, no need to be sarcastic. $200k/year does in fact buy a lot less in parts of the world where normal humans would have access to jobs that pay those amounts.
Oh no, some people want to work in challenging fields, have a nice house, send their kids to college, and retire comfortably
Without quibbling on specific line items, all of those things - the ability to educate your kids without going into debt, the ability to have a nice house, money for transportation, travel, and personal care - strike me as things everyone should have.
Hardly. I work on one end of the peninsula, my wife on the other. Living on the peninsula is a requirement if we want a commute less than 40 minutes one way and to reduce our carbon footprint.
That's true. Until you put fuel in the car. You know. That thing that will cost you hundreds if not thousands more a year living in San Jose than St Louis or Dallas.
Metafilter: How dare people live anywhere but flyover country.
I just don’t think you have a leg to stand on when it comes to discussing self-perception of class
I'll acknowledge that, but i'm saying it's a pretty basic standard of living being described here that doesn't get attacked elsewhere in the country where people are doing it for less money.
A number of folks brought up the issue of cost of living. "Does your index take into account the high cost of living in some of the metro areas that top this list," one commenter asked. "The amount of money people have to buy presents is diminished when they're paying over a third of their income on housing."
In many cases, it is a quite a bit more than that. With the help of Charlotta Mellander, I took a look at the amount of money people in different cities have left over after they paid for housing.
With just a few exceptions, the places at the top of this list have among the most expensive housing in the country. But average wages and salaries are substantially higher, enabling them to more than compensate.
« Older The folks at Mellow Pages, a community-run library... | Women soldiers fought, bled an... Newer »
This thread has been archived and is closed to new comments
Buy a Shirt