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San Francisco's Rent Hits a New Peak of $3,690, Highest in the US (cnet.com)
An anonymous reader shares a report: The median rent for a one bedroom apartment in San Francisco has reached a new peak of $3,690, according to survey data from Zumper, a home and apartment rental app. That's also a rise of nearly 9 percent from the same time last year, the survey found. Not only are those figures high enough to make your bank account cringe, but they're also nearly 30 percent higher than New York City and more than double the prices in Miami. Seattle, home to Amazon and Microsoft, rang in at $1,970 and Washington, DC, hit $2,150.
Oh, and by the way, while San Francisco's prices rose, the median price of one bedroom apartments across the US dropped nearly half a percent during this same time. That means while San Francisco's prices climbed, the country's prices fell. "Though there may be a ton of cash flowing through the city and surrounding areas soon, many of these workers will not immediately invest in a home and may, instead, take their money to both travel and upgrade their rental situation," Zumper wrote in a blog post Thursday.
Oh, and by the way, while San Francisco's prices rose, the median price of one bedroom apartments across the US dropped nearly half a percent during this same time. That means while San Francisco's prices climbed, the country's prices fell. "Though there may be a ton of cash flowing through the city and surrounding areas soon, many of these workers will not immediately invest in a home and may, instead, take their money to both travel and upgrade their rental situation," Zumper wrote in a blog post Thursday.
I suspect a bubble or two will pop and rents will be almost normal again. For example, the revenue received by AI companies does not justify the investment money pouring into them compared to other industry returns. Either they will start spewing forth great products soon, or investors will get a clue and pop the bubble. We are overdue for a general market and economy correction anyhow, AI aside.
Table-ized A.I.
... the true scarce resource.
Same thing here in Germany. Prices are rising and there seems no end to it. I expect this to get worse with climate change.
We suffer more in our imagination than in reality. - Seneca
When you say Central America, do you mean e.g. Nicaragua?
or do you mean e.g. Kansas?
Just asking...
There's a desperate need in some circles to make California sound like a third world country. I think it's a bit of the good-old fashioned penis envy. California is one of the largest economies on the planet, and folks living in a lot of Red States just have never been able to deal with the fact that a state can by and large be democrat and liberal, and actually have an economy of such significance that it outguns most of the Red States combined.
The world's burning. Moped Jesus spotted on I50. Details at 11.
Some tech companies don't like you checking your email about 10:00 AM. Let's see wake up in pajamas. Watch some youtube videos, maybe twitter a bit. Maybe some early morning pr0n. Go to lunch. Check some more email about 1:00 PM. Watch some more pr0n. Maybe send some twitters out. Check some more emails. Stop doing anything related to work around 3:00 PM. This is what most work at home tech workers do. Productivity goes to hell yet these types of people manage to stay on the payrolls for months before they are weeded out. Then the cycle continues,
Obviously you've never worked remotely. Or maybe you did, and that is how you "worked", and you still don't know why you got fired.
I worked remotely for a while - best job I ever had. Great teamwork, and everyone busted their ass to get the work done. We were the best of four help desks, and the one with the most remote workers. The other three help desk sent their unfixables to us, and we fixed all of it. BUT - when it came time to cut costs, which help desk got shut down? Ours, of course! Because we were about 80% remote workers and the new manager didn't know how to manage remote workers. Typical corporate idiocy, but I digress ...
I know $3500 a month sounds like a horrifying amount to you, but keep in mind the median there takes home over $7000 a month, after taxes.
I fit pretty squarely into the slightly-above-median bracket for SF incomes, living in Seattle paying not much less than their peak in rent.
I'm still shoveling a G or more a month to my family in the midwest, living their high life with their low cost of living, and while people may poop somewhere in the streets around here, the air isn't inundated with the smell of chicken shit, I'm not playing the will-I-get-killed-by-a-tornado-this-year lottery, and oh right- my house doesn't look like what would be a condemned building here. So there's that.
It's different, but I've been on both sides of the comparison. I'll keep the west coast, thanks. I may pay a shit-ton of money to live, but what I have left over is still more than the median take-home income of anyone in the south, and I live better for that.