Comments | lunesse: Holy house-moley

lunesse

Holy house-moley

Mar 17, 2005 10:03

from sfgate.com today:
"Bay Area home buyers in February committed to a typical monthly mortgage payment of $2,549, a record."

Gah!

Comments 8

OUY! mrcarparts March 17 2005, 18:09:20 UTC

The step daughter is renting a 1 bedroom apartment in S.F. and is paying near that! It's just WRONG!

miabella March 17 2005, 18:09:51 UTC

...and i'm thinking that's JUST the mortgage payment (principal + interest), but not also homeowners' insurance, property taxes, and PMI (if they have to pay it). : /

though i do miss the bay area sometimes, i am glad we weren't forced into moving back by d's job. then again, if we had been, i think we'd have rented out our house here in sd (not sold it), and rented a flat in the city. : )

asynja March 17 2005, 18:30:54 UTC

I'm so tired of being here. *sigh*

grandmoffdavid March 17 2005, 18:31:35 UTC

Yea, this is the big reason I could convince preciousjade to move to Seattle. At one point during the boom, we were paying just over $2000 for rent on a 2 bedroom, 1 bath apartment, right around 1200 square feet. If you want an idea of the housing prices there, imagine a home in Seattle, now reduce the size of the yard and multiply the cost by at least 2.5 (keeping in mind that a small starter house is at least half a million). That'll be fairly accurate. And that's down on the peninsula, in the city it's much worse.

miabella March 17 2005, 19:00:13 UTC

it's a good thing my husband and i left the bay area when we did (in early 2001, before the long-term effects of the bust were being felt). our rent on a 1-br/1-ba apartment (with a little "alcove" for an office) was $1690 and our next lease would've been $2000 for the same apartment! we were so outta there! but i do miss it. and it's not surprising that 4 years later, rent on the same apartment is UNDER $1690.

lunesse March 17 2005, 19:46:50 UTC

ya, rents did go down towards the end there, in 2003. I talked to folks at the last place I lived and we were paying almost $400 less per month than what the same units fetched earlier.

been_there March 18 2005, 04:09:07 UTC

That is just...wrong!! (makes me appreciate what we pay out here on the east coast, especially living in a city and having all the privacy/land we have)