Middle-Class Buyers Increasingly Priced Out of Bay Area Housing Market

Devin Fehely reports on a new study by UC Berkeley that shows how the current boom in the local housing market has put affordability out of reach for many prospective homeowners. (4/5/2022)

[@timetrialist]

Middle class is now the lower class in the bay area

[@goyoelburro]

This is news? No one with less than $1 Million can buy a house here. This is not news. Everyone here knows it. We also know why, and we are ANGRY!!!

[@nicholasthompson7690]

I had to move from southern New York to Ohio for cheaper housing. It's insane.

[@andrewwiggins3190]

I read about a man in his 50s that started investing in stocks and real estate, then retired in 2years with over $6million, that right there is my utmost goal and I'd really appreciate clues and tips on how to reach this goal within 5years.

[@davidmandelstamm8725]

Thanks for giving us the scoop on housing prices... DECADES late! Bay Area home prices have been too high since the 1980's. Now they are even worse for buyers who don't have some sort of executive job and/or hotshot investments! I left a couple decades ago, and am enjoying life in a college town in the South (not southern California). No regrets.

[@carpelunam]

this is usually where people blame republicans or democrats, but I blame the whole system .. looks like we need a housing crash similar to 2008 with less corruption and more greed

[@sshmuckatelli]

Keep voting democrat CA!

[@sparkyin3d]

More than 16 million homes are vacant in the US. That’s nearly 1 in 10 homes. It’s not a supply and demand issue

[@vileoneful]

That’s always been the plan

[@NashHinton]

Leave california. The state is already collapsing.

[@noeminoemi1350]

It's what they want ,for low income people to leave.

[@tomsawyer4857]

@@noeminoemi1350 but most people leaving are higher income earners. How ironic.

[@chibi_rabbit]

How about you help Cali by leaving first. 🤗

[@botaccount3449]

@@noeminoemi1350 low income folls are needed to bag groceries and fix coffee and do housekeeping/ landscaping etc. the low class is a capitalist necessity.

[@andrewpagan]

I bought my condo in the beginning of the pandemic. Enough space for me and my partner, and I had to waive ALL contingencies. Luckily the home was fine, but if it wasn't I would of been f**ked. You have to do some crazy stuff to get your offer accepted while in the middle class and I feel it. Good luck to everyone. If I could I would move out of the Bay Area.

[@botaccount3449]

Most middle class people dont want to accept that fact. Its like being 5 foot 5 and trying for the nba. Youre gonna need to work harder than everyone else to become a pro. It’s possible, but not exactly “fair”.

[@hufair2215]

What else is new

[@thebastardgift]

Middle class in the Bay Area will have to move out of state to retain the status of middle class or remain there and become indenture renters.

[@elicooper4031]

Yeah 6% of sale price goes to the realtors.

[@Qrayon]

They earn it, though. No one works for free. They provide a service facilitating the home buying process and guiding you thru it. (I'm not a Realtor, but my realtor helped me a lot.)

[@peragtori]

Who can afford a 1.3 million+ home that makes less then 120k. Home ownership is unobtainable in the bay area.

[@lilacroses5690]

1.3 million for a home in the Bay Area .. ?? I have heard of Bay Area townhomes being sold for more than that....

[@peragtori]

@@lilacroses5690 That's precisely my point. Average Joe can't afford a tiny houses in the bay area.

[@mocheen4837]

You need to make $300,000 - $400,000 to live comfortably in the Bay Area. I assume most people must make at least this much judging from the $80,000+ vehicles driving around on the streets.

[@AKAAAK]

When will you learn that middle class is becoming non existent everyday

[@mocheen4837]

Middle class is $300,000 now.

[@Mrmudbone_gaming]

I bought my house just in time 2 years ago.

[@apricot_mango]

This is PATHETIC.

[@philiphorner31]

Limited supply high demand.

[@brucelee8926]

What do you expect ? Hedgefund buy 20 properties for themselves in a year. Need to limit

[@stevendollar8570]

This not new news, jobs are in sf bay area but they have to live 2 to 3 hours away. Total bullshit 😒

[@brianp5205]

You wanted more immigrants, now deal with it.

[@philiphorner31]

That's the push from the bottom out in places like Tulare County.

[@teneleven2818]

That’s part of the forbidden truth they don’t want to report on

[@randallr.p.mcmurphy863]

@@dwj9099 The Chinese and Indians come here with cash and lots of it. Pull your head out of your ass and face reality. Its been happening for 15 to 20 years. Ever heard of San Marino or Arcadia?

[@botaccount3449]

But immigration has declined severely. Was at a million is now a quarter of that.

[@YT_C9]

We live in a developed country as a homeless men with internet and Wi-Fi everywhere, joke of the century😂 - Shame.