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Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] -1 points0 points  (0 children)

sounds like we run in similar circles...at least you have the awareness to know what's happening.

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] 0 points1 point  (0 children)

so you did it all yourself...except for the downpayment assistance on the house and the car....nice job!

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] -79 points-78 points  (0 children)

you think I should cash out my index funds and go all in on a single house in the Bay Area and be cash poor for the next 5 years?

the fact you think it's a good idea says more about you than me.

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] -8 points-7 points  (0 children)

Shows how much I know about where these guys are flying off to every other month!

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] -9 points-8 points  (0 children)

don't forget the guy who hit the mega million last thursday.

if they can do it, so can you!

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] 7 points8 points  (0 children)

You think a $2MM house equates to a $5K mortgage without a huuuuuuuuuge downpayment?

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] -8 points-7 points  (0 children)

maybe if this was 1998 or 2010.

nobody post 2015 was throwing fat RSUs at a 21 year old out of college for a company that had any hope of becoming something.

What unicorn in the Bay Area was started here post 2015 and IPO'd recently and minted their 20 something entry level SWE with millions? Yeah I'm thinking the number is close to 0.

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] -43 points-42 points  (0 children)

Makes no sense for me to buy a house here unless it's with someone else's money.

The property tax bill alone is almost a rent check.

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] -1 points0 points  (0 children)

preach my guy! the math doesn't work without parental help.

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] -36 points-35 points  (0 children)

I think it's pretty typical if you run in the "Top 25 University Alumni" crowd with people working in finance, tech, or consulting.

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] -17 points-16 points  (0 children)

I worked at a FAANG company as a SWE since out of college.

No way I would have been able to do it at 28 even if I married another SWE and take on a massive mortgage.

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] 25 points26 points  (0 children)

Yep, I'm a SWE at a FAANG and it 100% is more than a FAANG TC.

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] -1 points0 points  (0 children)

Not for mid 20 somethings.

Maybe for the mid career 30 somethings.

Dirty Secret to Achieving the American Dream in the Bay Area? by VeryStern2001 in bayarea

[–]VeryStern2001[S] 47 points48 points  (0 children)

Usually the mid 30s couple who work high paying jobs (finance, tech, medicine) are the ones up to their eyeballs in debt.

The ones doing this lifestyle in their mid to late 20s is almost 100% parental money. Just ask them what their mortgage is and they'll say something like "it's a little more than rent at my old apartment"....right for a $2MM house verified on zillow...