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Comment by filoleg | Hacker News Reader

Disagreed. Even with post-tax earnings of $15k/mo and paying $4k for housing in SF (which is more than what literally anyone I know living there pays for their housing), you are still getting $11k left over. Sure, let's subtract another $3k from that number for various little expenses and a bit of fun money, and you have $8k/mo saved up. That's a far cry from "nothing".

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The median 2br rent in SF stood at $4,630 earlier this year. $4k is the all-in price for a $550k mortgage + property taxes + insurance if you buy a house. Of course, you can't buy a house at that price. If literally nobody you know pays $4k/mo for housing that says more about the population of your friends than it does about the economy of the Bay Area.

That's the marginal median 2 br rent. Very few people living here for the last 3 years or longer pay that much. The true median 2 br rent is much lower. I'd venture to say even maybe a third lower.

EDIT: I can't respond to the comment below, so here's the other thing: rent control guarantees no rent changes, but you don't need it. Personal landlords don't change rent that much, often they prefer keeping tenants and handling cost pass-throughs rather than raising rent to maximize revenue. I live 4.5 years on a $1.5k rent / 1 br in Portola that terminated only because I moved away from the Bay (back now).

Most jurisdictions in the Bay Area don’t have rent control. Nothing about tenure protects tenants from inflation.

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