In 2021, the rookie minimum base salary of $660,000 is still a lofty number for the average citizen. But California's 13.3% state income tax rate remains the highest in the country. Although players are paid only in regular-season game checks based on where those games are played, the Niners are certain to have at least nine checks paid at the California rate every season.
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So, while Lance will soon sign a fully guaranteed, four-year, $34.1 million contract with a $22.1 million signing bonus, he will ultimately take home something closer to $18.7 million, according to Spotrac. That's more than enough for a large, comfortable home, but it helps explain why Lance is leaning toward renting for at least his first season and why he was grateful for his coach's warning.
"I knew it would be kind of crazy, but it definitely helped giving me a little bit of a heads-up," Lance said.
pretty much everywhere within 50 miles of San Francisco has average home prices over a million dollars. NYC is expensive, but prices fall quickly as you get further away.
There are a ton of great things about living here, but the cost of housing in coastal California is a massive problem. Massive. Rents are high, cost of a home is higher. A young family was living in the next apartment; they moved to Texas. I can't blame them. I've considered leaving the state -- would if I could figure out how to earn my living somewhere else. And I really like it here.
We bought our house 9 yrs ago for $610,000
And it’s a 70s home that needs upgrades throughout
I was hesitant to purchase because my previous home in upstate ( Hudson valley) NY for 245k
9 yrs later the hunk of average house is worth around 1.35 million at least
I like a lot about NorCal, wife has a real good circle of friends I tag along with ( miss my NY guys crew. Hung with them last week and it was great)
B
Lot about NorCal I don’t like too, ridiculous PC BS for people I know really don’t give a shit
Crime is pretty rampant in Bay Area too. Political stuff is just a bit too much for me here
My opinion is I have to capitalize on my equity in I. 9 yrs when wife done working. Thinking AZ or Henderson NV, vacation a lot in summer so we don’t bake in 116 degrees ( lived in both states before, know what the heat is like). Can buy a beautiful new home for 1/2 less, no state taxes, close to vegas but not too close. Etc
I do like central coast, San Luis Obispo area ( Avila beach, cambria etc)
I may consider there cause wife loves the beach
Trey lance will afford anything, but a rookie contract for a 4th rounder? May have a roommate or two.
The question is how much house do you want for your money?
NFL rookies earing the minimum salary are not going to buy a 5000sf mansion on $660K/year in the Bay Area. Most NFL rookies can probably rent a 2BR/2BA condo with all the amenities for $3,000/month and For condos in SF the rule of thumb is about +$1000/sf, but that might be going up due to COVID since the inventory is really low which has driven prices up. I live up in Marin and small 1200sf houses houses are going for well over 7 figures. I joke with my sister in TX all the time that I paid the same for my house as she did and can probably fit it in her guest wing.
Income taxes are high in CA, but property tax is capped at 1% of purchase price which really makes difference over long period of time. Other states with no income tax (TX, FL and WA) all have higher property taxes. The 2018 tax cut act actually made things slightly worse for homeowners by capping SALT deductions at 10k.
First of all Levi's stadium is in Santa Clara, not SF. Most but not all houses are over a million but they can rent. A salary of $660,000 should cover that easily. 50 miles south or east, houses are considerably less although still expensive.
A 2 bedroom condo in a luxury building in downtown San Francisco is going to cost you 6K+ a month. That will get you ~1000 square feet, valet, amenities. A 49ers player is more likely to live in San Jose. You can get something in that range for 5K a month.
If you’re making 660K a year in the Bay Area, you aren’t doing much better than a lot of two income families there.
I lived in San Francisco for 14 years, Manhattan for 5, and now Austin for 2 — I’ve seen some ridiculous real estate markets — but nothing like what’s going on today.
Last couple of years have noticed a lot of families from California moving to Texas. Almost everyone from California I talk to mention cost of living, taxes and state politics as reasons for their move out of California.
My niece lives near SF and is trying to move to Arizona. She is trying to buy a condo in the Phoenia area but it is a lottery system to buy the condo from the builder.Just crazy!!!
With respect to TX PPT, my taxes are 1.5% of assessed house value with the majority of the taxes going to pay for education.
I'd buy a nice 5th wheel and pay for a seasonal at a campground and look elsewhere for my permanent residence! California is a ruined. There's a reason why everyone is moving out to go the red states.
Last couple of years have noticed a lot of families from California moving to Texas. Almost everyone from California I talk to mention cost of living, taxes and state politics as reasons for their move out of California.
My niece lives near SF and is trying to move to Arizona. She is trying to buy a condo in the Phoenia area but it is a lottery system to buy the condo from the builder.Just crazy!!!
With respect to TX PPT, my taxes are 1.5% of assessed house value with the majority of the taxes going to pay for education.
For your sake I hope they keep their politics in California.
Buffalo's housing isn't ridiculous and no other teams play in NY. East of Metlife is probably crazy, but you can go west of it too and find some very nice properties (though property taxes suck).
It's not just the coastal states that are bad. If you made $660k in NJ, you'd have an effective state tax rate of 6.66% and owe ~$44k in state income taxes. But if you made the same $660k in MN, you'd have an effective tax rate of 8.97% and pay ~$59k in state income taxes. MN's top state rate is close, but kicks in at a much lower income level.
Even playing in Green Bay, you'd have an effective rate of 7.01% with ~$46k in state income taxes due despite the much lower top level. Link - ( New Window )
where she's pursuing her PhD. He's a young CPA, making decent money and her financial aid package pays her a nice little monthly salary as well as health benefits. But there is no way they could live there with their two children if they didn't have subsidized housing on campus. Thankfully they have access to a three-bedroom condo for a five year duration while she does her work at very reasonable cost. I was horrified to hear what housing prices were like a year ago before they landed their housing.
I've got a daughter in Oahu right now with her husband. He's in construction and she's a kindergarten teacher. They've just accepted an offer and will be moving to Jackson Hole. I've been so happy to have them closer to us (we live a couple of hours away from there). Having said that, the housing costs in Jackson are several multiples of what they've been paying for their place in Hawaii.
So yeah, the bay area is expensive, but not unique.
where she's pursuing her PhD. He's a young CPA, making decent money and her financial aid package pays her a nice little monthly salary as well as health benefits. But there is no way they could live there with their two children if they didn't have subsidized housing on campus. Thankfully they have access to a three-bedroom condo for a five year duration while she does her work at very reasonable cost. I was horrified to hear what housing prices were like a year ago before they landed their housing.
I've got a daughter in Oahu right now with her husband. He's in construction and she's a kindergarten teacher. They've just accepted an offer and will be moving to Jackson Hole. I've been so happy to have them closer to us (we live a couple of hours away from there). Having said that, the housing costs in Jackson are several multiples of what they've been paying for their place in Hawaii.
So yeah, the bay area is expensive, but not unique.
I knew Jackson Hole is loved by the wealthy, but didn't think the prices were that bad, especially since Hawaii isn't exactly known for low housing costs.
People like to make a big political thing about when folks leave a
state, but in most cases it's kind of a natural economic cycle. You can't expect housing prices to grow indefinitely without encouraging folks to move to a cheaper area.
Folks have been leaving CT, where I live, pretty steadily for a while now. COVID seems to have brought a bunch of work at home NYers to CT now. Politics can affect market conditions but are not the primary determining factor of market conditions. We're happy here now. When I retire in 15 years or so, I expect we'll find somewhere cheaper to live.
We left 2x - once to NC and the last time to Austin, TX. I had to head there in between for career, but glad I left. Just met with an old colleague of mine who was visiting ATX this past weekend.
His comments ran the range from cost, increasing taxes to feeling less welcome as a moderate conservative. It will be interesting as patterns change where people live. COVID has shown a lot of folks in the tech field that they can live wherever they want and get their job done.
where she's pursuing her PhD. He's a young CPA, making decent money and her financial aid package pays her a nice little monthly salary as well as health benefits. But there is no way they could live there with their two children if they didn't have subsidized housing on campus. Thankfully they have access to a three-bedroom condo for a five year duration while she does her work at very reasonable cost. I was horrified to hear what housing prices were like a year ago before they landed their housing.
I've got a daughter in Oahu right now with her husband. He's in construction and she's a kindergarten teacher. They've just accepted an offer and will be moving to Jackson Hole. I've been so happy to have them closer to us (we live a couple of hours away from there). Having said that, the housing costs in Jackson are several multiples of what they've been paying for their place in Hawaii.
So yeah, the bay area is expensive, but not unique.
I knew Jackson Hole is loved by the wealthy, but didn't think the prices were that bad, especially since Hawaii isn't exactly known for low housing costs.
Yeah, I was surprised at how difficult they've found it.
He's going to be building a $35MM mansion, I recommended he just camp out on the property until the job's done. Only kind of kidding.
RE: RE: RE: My son and his wife are at Stanford...
Back in 2004 I worked for a very large bank as a senior manager. I was offered a new position with a relocation package. Part of the benefit package included an analysis of my current housing (square footage, property size, number beds/baths/garage, etc., as well as the size of my mortgage) with a guarantee of the same type of housing in the new market with no change in indebtedness.
I was recruited to three areas - SF, Reno, and Albuquerque. For a variety of reasons I chose ABQ, and I think it was the right move for me professionally and for my family.
Having said that, the terms of the mortgage were that after 4 years of service in that position the equity was all transferred to me. In other words, my home in Colorado Springs was valued at the time around $275k and my debt on it was around $110. The comparable home in SF was $2.1MM, which means had I taken the job there and lasted the four years I would have received a "bonus" in equity of almost $2MM. Of course the housing market was crashing right about then, so who knows what it would have been worth, but today that same house would probably be worth much, much more.
I made my decision based on other factors but sometimes wonder if it wouldn't have been wiser to go the other direction.
RE: RE: RE: RE: My son and his wife are at Stanford...
Yeah, I was surprised at how difficult they've found it.
He's going to be building a $35MM mansion, I recommended he just camp out on the property until the job's done. Only kind of kidding.
Why leave at that point? I'm sure there's a remote corner of the estate that the wealthy owner will never use...
=D
Right? I mean he could almost build a small underground dwelling that would go unnoticed by the homeowner. Get in good with the dogs and other security and make a go of it. LOL.
I lived in downtown Palo Alto during the summer between my first and second years of law school at Stanford (1970). I rented a small house with two bedrooms. I forget the cost but it wasn't much. By 1980, that small house sold for well over a million dollars (unfortunately I only rented and never owned it). It has since been displaced by a larger apartment complex.
Housing prices throughout the Bay Area are insane. The median house price in and around Berkeley climbed by well over 25% between 2020 and 2021 according to a real estate agent friend. And the prices were sky high to begin with. The same is true here in Boston.
That's why we're taking advantage of the hot market and moving this summer out to somewhere in the Seattle area. Bye bye cold weather and snow and really hot and humid summers. Hello beautiful country.
RE: The question is how much house do you want for your money?
NFL rookies earing the minimum salary are not going to buy a 5000sf mansion on $660K/year in the Bay Area. Most NFL rookies can probably rent a 2BR/2BA condo with all the amenities for $3,000/month and For condos in SF the rule of thumb is about +$1000/sf, but that might be going up due to COVID since the inventory is really low which has driven prices up. I live up in Marin and small 1200sf houses houses are going for well over 7 figures. I joke with my sister in TX all the time that I paid the same for my house as she did and can probably fit it in her guest wing.
Income taxes are high in CA, but property tax is capped at 1% of purchase price which really makes difference over long period of time. Other states with no income tax (TX, FL and WA) all have higher property taxes. The 2018 tax cut act actually made things slightly worse for homeowners by capping SALT deductions at 10k.
COVID has actually put a hurting on rental properties, because the idea is "If I'm telecommuting, why live in downtown San Jose when I can live in San Ramon?".
I experienced this first hand as an owner in the area, had to reduce rent prices a few hundred bucks a month just recently.
$3k will def rent a nice 2BR apt in the area. The nicest possible? Not sure, but should be nice enough.
I think the San Fernando Valley is an underrated deal. I can be in Hollywood, Downtown, or the West Side/beach in less than an hour. My rent is high nationally but it's lower than what I would pay in NYC or the Bay Area. I have a studio apartment now. For shits and giggles, I look at the rent in places like Little Rock, AR. Not that much of a difference for being in LA where everything is within reach.
California will always be California and its appeal is not dead. I think in the ebb and flow of things, we are at a tough spot, but we will start to match the rest of the nation in time. Early-mid 20s is a good time to have roommates. I think most of these rooks will be alright.
Yeah this is kind of ridiculous considering how much they make
I live in Florida 10m minutes from the gulf of Mexico. My home is in a gated community and is on a golf course. It's extimated value is $550,000 and is 2700 square feet 4 bedroom 3 baths. My property taxes are $2800 a year and no state income tax. Where would you prefer to live?
I live in Temecula its So. Cal. wine country. Best weather, great food, no crime and plenty to do. Why live here if its so expensive? Because its worth it.
It's hard enough for the rest of us not making $600k/yr. It's actually more economical to rent than buy if you look at mortgage rate vs rental rate (with 20% down). Yeah you can find more affordable stuff further away, but then you introduce the commuting hell.
I don't know how anyone who makes minimum wage can survive around here. People may laugh (or find it absurd) but if you are making less than $100k you qualify as low income.
RE: Putting things in perspective Calif vs Florida
I live in Florida 10m minutes from the gulf of Mexico. My home is in a gated community and is on a golf course. It's extimated value is $550,000 and is 2700 square feet 4 bedroom 3 baths. My property taxes are $2800 a year and no state income tax. Where would you prefer to live?
Florida or California? CA. Even with all it's problems-high cost of living, wildfires, homelessness, etc.-I am taking CA. I would never live in Florida. Never. No offense, but FL isn't for me. Too weird of a state & their governance...hard pass. To each their own.
It's hard enough for the rest of us not making $600k/yr. It's actually more economical to rent than buy if you look at mortgage rate vs rental rate (with 20% down). Yeah you can find more affordable stuff further away, but then you introduce the commuting hell.
I don't know how anyone who makes minimum wage can survive around here. People may laugh (or find it absurd) but if you are making less than $100k you qualify as low income.
Depending on what market you live in, sometimes it makes more sense to rent. In a densely populated area in Florida I certainly don't meet that criteria and would love to buy, but the market has been flipped on its head in some major cities depending on the outcome of what the work from home movenement lives.
I worked in tech before, and can't believe how many remote opportunities I'm getting. Yeah, Apple, Google, etc want everyone in office, but most these other companies don't have that negotiating power. That's who is buying places in these areas. Shit, we had a poster say Jackson Hole real estate was skyrocketing, wonder why that is? It's not like there is anything out there except beautiful country living and rich bastards to network with.
RE: RE: Putting things in perspective Calif vs Florida
I live in Florida 10m minutes from the gulf of Mexico. My home is in a gated community and is on a golf course. It's extimated value is $550,000 and is 2700 square feet 4 bedroom 3 baths. My property taxes are $2800 a year and no state income tax. Where would you prefer to live?
Florida or California? CA. Even with all it's problems-high cost of living, wildfires, homelessness, etc.-I am taking CA. I would never live in Florida. Never. No offense, but FL isn't for me. Too weird of a state & their governance...hard pass. To each their own.
I live here in probably the most liberal, LQBGT friendly place in the southeast and its exploding. I live downtown and I"m looking at two giants cranes building yet another high rise building. When I lived on the beach and went to school downtown, if I was taking remote summer and come back I'd barely recognize the place.
I was just talking to some other people about this. It's the most diverse state as far as cultures goes in the country with California probably on par.
When people talk about California they never think San Bernindo but that's where a ton of their population lives. I used to think that about Cali too, until I joined the Navy and saw most of the other half.
Florida truly has it all. Northeast Assholes in southeast Florida, Midwest assholes in Southwest Florida, the redneck riviera in the panhandle, Orlanda is a weird combo of yuppy/tourists and local trash, and Jax is practically Alabama. July, August, and some of September suck, but I'd rather deal with that than cold. I can't believe how much some of the retail stores spend on AC, they keep it 65 degrees.
I've always lived near the water here and can't believe people that move inland survive. I wouldn't even move 8 blocks inland into the gayberhood here which is great, but no wind off the water and makes it brutal 4 months of the year. Florida is awesome if you know where to look for what you like.
RE: RE: Putting things in perspective Calif vs Florida
I live in Florida 10m minutes from the gulf of Mexico. My home is in a gated community and is on a golf course. It's extimated value is $550,000 and is 2700 square feet 4 bedroom 3 baths. My property taxes are $2800 a year and no state income tax. Where would you prefer to live?
Florida or California? CA. Even with all it's problems-high cost of living, wildfires, homelessness, etc.-I am taking CA. I would never live in Florida. Never. No offense, but FL isn't for me. Too weird of a state & their governance...hard pass. To each their own.
That’s why Florida is gaining congressional seats, while CA and NY are losing them. People are flocking to FL. My property value has probably gone up about 30% since we bought it less than two years ago. But it’s the right type of people coming. People who value small government and freedom. Not people who support big government controlling every aspect of your life. Rather than put everybody on lockdown, our governance protected the elderly (rather than killing them), and allowed local governments to make their own restrictions for the most part based on their situation. Dade, Broward, and Palm Beach for instance are a lot more crowded than Polk County for instance, and thus had a lot more restrictions. Consequently our governor doesn’t have a recall against him and is one of the most popular governors in the country. But that’s by people who actually know what’s going on here, rather than by watching CNN
RE: RE: Putting things in perspective Calif vs Florida
I would never live in Florida. Never. No offense, but FL isn't for me. Too weird of a state & their governance...hard pass. To each their own.
Weird governance??? Talk of the pot calling out the kettle..me thinks FL has a lot less weirdness.
CA is probably the most beautiful state in the country, but Florida is pretty doggone nice to - kind of like living at the Jersey Shore but with warm water year round and no Philly people invading.
RE: RE: RE: Putting things in perspective Calif vs Florida
I live in Florida 10m minutes from the gulf of Mexico. My home is in a gated community and is on a golf course. It's extimated value is $550,000 and is 2700 square feet 4 bedroom 3 baths. My property taxes are $2800 a year and no state income tax. Where would you prefer to live?
Florida or California? CA. Even with all it's problems-high cost of living, wildfires, homelessness, etc.-I am taking CA. I would never live in Florida. Never. No offense, but FL isn't for me. Too weird of a state & their governance...hard pass. To each their own.
That’s why Florida is gaining congressional seats, while CA and NY are losing them. People are flocking to FL. My property value has probably gone up about 30% since we bought it less than two years ago. But it’s the right type of people coming. People who value small government and freedom. Not people who support big government controlling every aspect of your life. Rather than put everybody on lockdown, our governance protected the elderly (rather than killing them), and allowed local governments to make their own restrictions for the most part based on their situation. Dade, Broward, and Palm Beach for instance are a lot more crowded than Polk County for instance, and thus had a lot more restrictions. Consequently our governor doesn’t have a recall against him and is one of the most popular governors in the country. But that’s by people who actually know what’s going on here, rather than by watching CNN
for most people on this board, where you live comes down to personal preference.
If you told me 25 years ago, I'd live the majority of my life in South Carolina, I'd have stabbed you with a speidie stick, folded up my slice of pizza and ate it while you bled.
Since I've been down here, I'll likely never leave the Carolinas - but maybe 20 years from now, I'll wonder what jackass made that comment.
I personally wouldn't live in California or Florida, but those of you that do - I hope you enjoy it.
for most people on this board, where you live comes down to personal preference.
If you told me 25 years ago, I'd live the majority of my life in South Carolina, I'd have stabbed you with a speidie stick, folded up my slice of pizza and ate it while you bled.
Since I've been down here, I'll likely never leave the Carolinas - but maybe 20 years from now, I'll wonder what jackass made that comment.
I personally wouldn't live in California or Florida, but those of you that do - I hope you enjoy it.
We have a kid at Coastal right now, so we've been to SC a few times now and really liked it. Strongly considering it when my wife can retire from the state and I can work from anywhere. Seems like a nice place to live and lots of great golf.
RE: RE: RE: Putting things in perspective Calif vs Florida
I live in Florida 10m minutes from the gulf of Mexico. My home is in a gated community and is on a golf course. It's extimated value is $550,000 and is 2700 square feet 4 bedroom 3 baths. My property taxes are $2800 a year and no state income tax. Where would you prefer to live?
Florida or California? CA. Even with all it's problems-high cost of living, wildfires, homelessness, etc.-I am taking CA. I would never live in Florida. Never. No offense, but FL isn't for me. Too weird of a state & their governance...hard pass. To each their own.
That’s why Florida is gaining congressional seats, while CA and NY are losing them. People are flocking to FL. My property value has probably gone up about 30% since we bought it less than two years ago. But it’s the right type of people coming. People who value small government and freedom. Not people who support big government controlling every aspect of your life. Rather than put everybody on lockdown, our governance protected the elderly (rather than killing them), and allowed local governments to make their own restrictions for the most part based on their situation. Dade, Broward, and Palm Beach for instance are a lot more crowded than Polk County for instance, and thus had a lot more restrictions. Consequently our governor doesn’t have a recall against him and is one of the most popular governors in the country. But that’s by people who actually know what’s going on here, rather than by watching CNN
Things change and people move.. Once Covid is over NYC area will be back to gaining population.. The reason why everything is expensive in SF, NY and NJ is because an average person makes nearly 80k in NJ and 55k in Fl.. Obviously it sucks only making 600k in SF when there are tons of people making a lot more.. too bad Florida can't provide that kind of income.. Its a good retirement place but wealth building usually happens in the other places..
RE: RE: RE: Putting things in perspective Calif vs Florida
That’s why Florida is gaining congressional seats, while CA and NY are losing them. People are flocking to FL. My property value has probably gone up about 30% since we bought it less than two years ago. But it’s the right type of people coming. People who value small government and freedom. Not people who support big government controlling every aspect of your life. Rather than put everybody on lockdown, our governance protected the elderly (rather than killing them), and allowed local governments to make their own restrictions for the most part based on their situation. Dade, Broward, and Palm Beach for instance are a lot more crowded than Polk County for instance, and thus had a lot more restrictions. Consequently our governor doesn’t have a recall against him and is one of the most popular governors in the country. But that’s by people who actually know what’s going on here, rather than by watching CNN
That’s why Florida is gaining congressional seats, while CA and NY are losing them. People are flocking to FL. My property value has probably gone up about 30% since we bought it less than two years ago. But it’s the right type of people coming. People who value small government and freedom. Not people who support big government controlling every aspect of your life. Rather than put everybody on lockdown, our governance protected the elderly (rather than killing them), and allowed local governments to make their own restrictions for the most part based on their situation. Dade, Broward, and Palm Beach for instance are a lot more crowded than Polk County for instance, and thus had a lot more restrictions. Consequently our governor doesn’t have a recall against him and is one of the most popular governors in the country. But that’s by people who actually know what’s going on here, rather than by watching CNN
Huh?
Link - ( New Window )
That article is from May 2021, when the vaccine was readily available and numbers were down statewide. During the pandemic, local governments were allowed to vary their restrictions based upon their population densities, preferences, etc. Could you please post links of the various Florida counties and how their restrictions were all the same during the bulk of the pandemic?
The major exception was he would not budge on allowing parents the option of in-person or virtual. He would not allow local school boards to shut down schools to the detriment of children and working parents, particularly single mothers.
"I knew it would be kind of crazy, but it definitely helped giving me a little bit of a heads-up," Lance said.
But being in New York, overall taxes are quite another matter.
And it’s a 70s home that needs upgrades throughout
I was hesitant to purchase because my previous home in upstate ( Hudson valley) NY for 245k
9 yrs later the hunk of average house is worth around 1.35 million at least
I like a lot about NorCal, wife has a real good circle of friends I tag along with ( miss my NY guys crew. Hung with them last week and it was great)
B
Lot about NorCal I don’t like too, ridiculous PC BS for people I know really don’t give a shit
Crime is pretty rampant in Bay Area too. Political stuff is just a bit too much for me here
My opinion is I have to capitalize on my equity in I. 9 yrs when wife done working. Thinking AZ or Henderson NV, vacation a lot in summer so we don’t bake in 116 degrees ( lived in both states before, know what the heat is like). Can buy a beautiful new home for 1/2 less, no state taxes, close to vegas but not too close. Etc
I do like central coast, San Luis Obispo area ( Avila beach, cambria etc)
I may consider there cause wife loves the beach
Trey lance will afford anything, but a rookie contract for a 4th rounder? May have a roommate or two.
Income taxes are high in CA, but property tax is capped at 1% of purchase price which really makes difference over long period of time. Other states with no income tax (TX, FL and WA) all have higher property taxes. The 2018 tax cut act actually made things slightly worse for homeowners by capping SALT deductions at 10k.
But that has started to change in the last few years
Also depends on where in Texas
The 13 % tax rate doesn't kick in until $1 mil.
If you’re making 660K a year in the Bay Area, you aren’t doing much better than a lot of two income families there.
I lived in San Francisco for 14 years, Manhattan for 5, and now Austin for 2 — I’ve seen some ridiculous real estate markets — but nothing like what’s going on today.
My niece lives near SF and is trying to move to Arizona. She is trying to buy a condo in the Phoenia area but it is a lottery system to buy the condo from the builder.Just crazy!!!
With respect to TX PPT, my taxes are 1.5% of assessed house value with the majority of the taxes going to pay for education.
My niece lives near SF and is trying to move to Arizona. She is trying to buy a condo in the Phoenia area but it is a lottery system to buy the condo from the builder.Just crazy!!!
With respect to TX PPT, my taxes are 1.5% of assessed house value with the majority of the taxes going to pay for education.
For your sake I hope they keep their politics in California.
It's not just the coastal states that are bad. If you made $660k in NJ, you'd have an effective state tax rate of 6.66% and owe ~$44k in state income taxes. But if you made the same $660k in MN, you'd have an effective tax rate of 8.97% and pay ~$59k in state income taxes. MN's top state rate is close, but kicks in at a much lower income level.
Even playing in Green Bay, you'd have an effective rate of 7.01% with ~$46k in state income taxes due despite the much lower top level.
Link - ( New Window )
Not every area can be as beautiful as where you live. Bastid!
you mean the Crap Map App?
I've got a daughter in Oahu right now with her husband. He's in construction and she's a kindergarten teacher. They've just accepted an offer and will be moving to Jackson Hole. I've been so happy to have them closer to us (we live a couple of hours away from there). Having said that, the housing costs in Jackson are several multiples of what they've been paying for their place in Hawaii.
So yeah, the bay area is expensive, but not unique.
I've got a daughter in Oahu right now with her husband. He's in construction and she's a kindergarten teacher. They've just accepted an offer and will be moving to Jackson Hole. I've been so happy to have them closer to us (we live a couple of hours away from there). Having said that, the housing costs in Jackson are several multiples of what they've been paying for their place in Hawaii.
So yeah, the bay area is expensive, but not unique.
I knew Jackson Hole is loved by the wealthy, but didn't think the prices were that bad, especially since Hawaii isn't exactly known for low housing costs.
Folks have been leaving CT, where I live, pretty steadily for a while now. COVID seems to have brought a bunch of work at home NYers to CT now. Politics can affect market conditions but are not the primary determining factor of market conditions. We're happy here now. When I retire in 15 years or so, I expect we'll find somewhere cheaper to live.
His comments ran the range from cost, increasing taxes to feeling less welcome as a moderate conservative. It will be interesting as patterns change where people live. COVID has shown a lot of folks in the tech field that they can live wherever they want and get their job done.
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where she's pursuing her PhD. He's a young CPA, making decent money and her financial aid package pays her a nice little monthly salary as well as health benefits. But there is no way they could live there with their two children if they didn't have subsidized housing on campus. Thankfully they have access to a three-bedroom condo for a five year duration while she does her work at very reasonable cost. I was horrified to hear what housing prices were like a year ago before they landed their housing.
I've got a daughter in Oahu right now with her husband. He's in construction and she's a kindergarten teacher. They've just accepted an offer and will be moving to Jackson Hole. I've been so happy to have them closer to us (we live a couple of hours away from there). Having said that, the housing costs in Jackson are several multiples of what they've been paying for their place in Hawaii.
So yeah, the bay area is expensive, but not unique.
I knew Jackson Hole is loved by the wealthy, but didn't think the prices were that bad, especially since Hawaii isn't exactly known for low housing costs.
Yeah, I was surprised at how difficult they've found it.
He's going to be building a $35MM mansion, I recommended he just camp out on the property until the job's done. Only kind of kidding.
Yeah, I was surprised at how difficult they've found it.
He's going to be building a $35MM mansion, I recommended he just camp out on the property until the job's done. Only kind of kidding.
Why leave at that point? I'm sure there's a remote corner of the estate that the wealthy owner will never use...
=D
I was recruited to three areas - SF, Reno, and Albuquerque. For a variety of reasons I chose ABQ, and I think it was the right move for me professionally and for my family.
Having said that, the terms of the mortgage were that after 4 years of service in that position the equity was all transferred to me. In other words, my home in Colorado Springs was valued at the time around $275k and my debt on it was around $110. The comparable home in SF was $2.1MM, which means had I taken the job there and lasted the four years I would have received a "bonus" in equity of almost $2MM. Of course the housing market was crashing right about then, so who knows what it would have been worth, but today that same house would probably be worth much, much more.
I made my decision based on other factors but sometimes wonder if it wouldn't have been wiser to go the other direction.
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In comment 15282219 giants#1 said:
Yeah, I was surprised at how difficult they've found it.
He's going to be building a $35MM mansion, I recommended he just camp out on the property until the job's done. Only kind of kidding.
Why leave at that point? I'm sure there's a remote corner of the estate that the wealthy owner will never use...
=D
Right? I mean he could almost build a small underground dwelling that would go unnoticed by the homeowner. Get in good with the dogs and other security and make a go of it. LOL.
Housing prices throughout the Bay Area are insane. The median house price in and around Berkeley climbed by well over 25% between 2020 and 2021 according to a real estate agent friend. And the prices were sky high to begin with. The same is true here in Boston.
That's why we're taking advantage of the hot market and moving this summer out to somewhere in the Seattle area. Bye bye cold weather and snow and really hot and humid summers. Hello beautiful country.
Income taxes are high in CA, but property tax is capped at 1% of purchase price which really makes difference over long period of time. Other states with no income tax (TX, FL and WA) all have higher property taxes. The 2018 tax cut act actually made things slightly worse for homeowners by capping SALT deductions at 10k.
COVID has actually put a hurting on rental properties, because the idea is "If I'm telecommuting, why live in downtown San Jose when I can live in San Ramon?".
I experienced this first hand as an owner in the area, had to reduce rent prices a few hundred bucks a month just recently.
$3k will def rent a nice 2BR apt in the area. The nicest possible? Not sure, but should be nice enough.
California will always be California and its appeal is not dead. I think in the ebb and flow of things, we are at a tough spot, but we will start to match the rest of the nation in time. Early-mid 20s is a good time to have roommates. I think most of these rooks will be alright.
The draw of the Bay Area for many workers and businesses is the wage potential and wealth building potential.
Who are the major employers in your area of Florida?
I don't know how anyone who makes minimum wage can survive around here. People may laugh (or find it absurd) but if you are making less than $100k you qualify as low income.
Florida or California? CA. Even with all it's problems-high cost of living, wildfires, homelessness, etc.-I am taking CA. I would never live in Florida. Never. No offense, but FL isn't for me. Too weird of a state & their governance...hard pass. To each their own.
I don't know how anyone who makes minimum wage can survive around here. People may laugh (or find it absurd) but if you are making less than $100k you qualify as low income.
Depending on what market you live in, sometimes it makes more sense to rent. In a densely populated area in Florida I certainly don't meet that criteria and would love to buy, but the market has been flipped on its head in some major cities depending on the outcome of what the work from home movenement lives.
I worked in tech before, and can't believe how many remote opportunities I'm getting. Yeah, Apple, Google, etc want everyone in office, but most these other companies don't have that negotiating power. That's who is buying places in these areas. Shit, we had a poster say Jackson Hole real estate was skyrocketing, wonder why that is? It's not like there is anything out there except beautiful country living and rich bastards to network with.
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I live in Florida 10m minutes from the gulf of Mexico. My home is in a gated community and is on a golf course. It's extimated value is $550,000 and is 2700 square feet 4 bedroom 3 baths. My property taxes are $2800 a year and no state income tax. Where would you prefer to live?
Florida or California? CA. Even with all it's problems-high cost of living, wildfires, homelessness, etc.-I am taking CA. I would never live in Florida. Never. No offense, but FL isn't for me. Too weird of a state & their governance...hard pass. To each their own.
I live here in probably the most liberal, LQBGT friendly place in the southeast and its exploding. I live downtown and I"m looking at two giants cranes building yet another high rise building. When I lived on the beach and went to school downtown, if I was taking remote summer and come back I'd barely recognize the place.
I was just talking to some other people about this. It's the most diverse state as far as cultures goes in the country with California probably on par.
When people talk about California they never think San Bernindo but that's where a ton of their population lives. I used to think that about Cali too, until I joined the Navy and saw most of the other half.
Florida truly has it all. Northeast Assholes in southeast Florida, Midwest assholes in Southwest Florida, the redneck riviera in the panhandle, Orlanda is a weird combo of yuppy/tourists and local trash, and Jax is practically Alabama. July, August, and some of September suck, but I'd rather deal with that than cold. I can't believe how much some of the retail stores spend on AC, they keep it 65 degrees.
I've always lived near the water here and can't believe people that move inland survive. I wouldn't even move 8 blocks inland into the gayberhood here which is great, but no wind off the water and makes it brutal 4 months of the year. Florida is awesome if you know where to look for what you like.
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I live in Florida 10m minutes from the gulf of Mexico. My home is in a gated community and is on a golf course. It's extimated value is $550,000 and is 2700 square feet 4 bedroom 3 baths. My property taxes are $2800 a year and no state income tax. Where would you prefer to live?
Florida or California? CA. Even with all it's problems-high cost of living, wildfires, homelessness, etc.-I am taking CA. I would never live in Florida. Never. No offense, but FL isn't for me. Too weird of a state & their governance...hard pass. To each their own.
That’s why Florida is gaining congressional seats, while CA and NY are losing them. People are flocking to FL. My property value has probably gone up about 30% since we bought it less than two years ago. But it’s the right type of people coming. People who value small government and freedom. Not people who support big government controlling every aspect of your life. Rather than put everybody on lockdown, our governance protected the elderly (rather than killing them), and allowed local governments to make their own restrictions for the most part based on their situation. Dade, Broward, and Palm Beach for instance are a lot more crowded than Polk County for instance, and thus had a lot more restrictions. Consequently our governor doesn’t have a recall against him and is one of the most popular governors in the country. But that’s by people who actually know what’s going on here, rather than by watching CNN
Weird governance??? Talk of the pot calling out the kettle..me thinks FL has a lot less weirdness.
CA is probably the most beautiful state in the country, but Florida is pretty doggone nice to - kind of like living at the Jersey Shore but with warm water year round and no Philly people invading.
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In comment 15282716 floridagiantsfan said:
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I live in Florida 10m minutes from the gulf of Mexico. My home is in a gated community and is on a golf course. It's extimated value is $550,000 and is 2700 square feet 4 bedroom 3 baths. My property taxes are $2800 a year and no state income tax. Where would you prefer to live?
Florida or California? CA. Even with all it's problems-high cost of living, wildfires, homelessness, etc.-I am taking CA. I would never live in Florida. Never. No offense, but FL isn't for me. Too weird of a state & their governance...hard pass. To each their own.
That’s why Florida is gaining congressional seats, while CA and NY are losing them. People are flocking to FL. My property value has probably gone up about 30% since we bought it less than two years ago. But it’s the right type of people coming. People who value small government and freedom. Not people who support big government controlling every aspect of your life. Rather than put everybody on lockdown, our governance protected the elderly (rather than killing them), and allowed local governments to make their own restrictions for the most part based on their situation. Dade, Broward, and Palm Beach for instance are a lot more crowded than Polk County for instance, and thus had a lot more restrictions. Consequently our governor doesn’t have a recall against him and is one of the most popular governors in the country. But that’s by people who actually know what’s going on here, rather than by watching CNN
Okay.
If you told me 25 years ago, I'd live the majority of my life in South Carolina, I'd have stabbed you with a speidie stick, folded up my slice of pizza and ate it while you bled.
Since I've been down here, I'll likely never leave the Carolinas - but maybe 20 years from now, I'll wonder what jackass made that comment.
I personally wouldn't live in California or Florida, but those of you that do - I hope you enjoy it.
If you told me 25 years ago, I'd live the majority of my life in South Carolina, I'd have stabbed you with a speidie stick, folded up my slice of pizza and ate it while you bled.
Since I've been down here, I'll likely never leave the Carolinas - but maybe 20 years from now, I'll wonder what jackass made that comment.
I personally wouldn't live in California or Florida, but those of you that do - I hope you enjoy it.
We have a kid at Coastal right now, so we've been to SC a few times now and really liked it. Strongly considering it when my wife can retire from the state and I can work from anywhere. Seems like a nice place to live and lots of great golf.
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In comment 15282716 floridagiantsfan said:
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I live in Florida 10m minutes from the gulf of Mexico. My home is in a gated community and is on a golf course. It's extimated value is $550,000 and is 2700 square feet 4 bedroom 3 baths. My property taxes are $2800 a year and no state income tax. Where would you prefer to live?
Florida or California? CA. Even with all it's problems-high cost of living, wildfires, homelessness, etc.-I am taking CA. I would never live in Florida. Never. No offense, but FL isn't for me. Too weird of a state & their governance...hard pass. To each their own.
That’s why Florida is gaining congressional seats, while CA and NY are losing them. People are flocking to FL. My property value has probably gone up about 30% since we bought it less than two years ago. But it’s the right type of people coming. People who value small government and freedom. Not people who support big government controlling every aspect of your life. Rather than put everybody on lockdown, our governance protected the elderly (rather than killing them), and allowed local governments to make their own restrictions for the most part based on their situation. Dade, Broward, and Palm Beach for instance are a lot more crowded than Polk County for instance, and thus had a lot more restrictions. Consequently our governor doesn’t have a recall against him and is one of the most popular governors in the country. But that’s by people who actually know what’s going on here, rather than by watching CNN
Things change and people move.. Once Covid is over NYC area will be back to gaining population.. The reason why everything is expensive in SF, NY and NJ is because an average person makes nearly 80k in NJ and 55k in Fl.. Obviously it sucks only making 600k in SF when there are tons of people making a lot more.. too bad Florida can't provide that kind of income.. Its a good retirement place but wealth building usually happens in the other places..
That’s why Florida is gaining congressional seats, while CA and NY are losing them. People are flocking to FL. My property value has probably gone up about 30% since we bought it less than two years ago. But it’s the right type of people coming. People who value small government and freedom. Not people who support big government controlling every aspect of your life. Rather than put everybody on lockdown, our governance protected the elderly (rather than killing them), and allowed local governments to make their own restrictions for the most part based on their situation. Dade, Broward, and Palm Beach for instance are a lot more crowded than Polk County for instance, and thus had a lot more restrictions. Consequently our governor doesn’t have a recall against him and is one of the most popular governors in the country. But that’s by people who actually know what’s going on here, rather than by watching CNN
Huh?
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That’s why Florida is gaining congressional seats, while CA and NY are losing them. People are flocking to FL. My property value has probably gone up about 30% since we bought it less than two years ago. But it’s the right type of people coming. People who value small government and freedom. Not people who support big government controlling every aspect of your life. Rather than put everybody on lockdown, our governance protected the elderly (rather than killing them), and allowed local governments to make their own restrictions for the most part based on their situation. Dade, Broward, and Palm Beach for instance are a lot more crowded than Polk County for instance, and thus had a lot more restrictions. Consequently our governor doesn’t have a recall against him and is one of the most popular governors in the country. But that’s by people who actually know what’s going on here, rather than by watching CNN
Huh?
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That article is from May 2021, when the vaccine was readily available and numbers were down statewide. During the pandemic, local governments were allowed to vary their restrictions based upon their population densities, preferences, etc. Could you please post links of the various Florida counties and how their restrictions were all the same during the bulk of the pandemic?
The major exception was he would not budge on allowing parents the option of in-person or virtual. He would not allow local school boards to shut down schools to the detriment of children and working parents, particularly single mothers.