By: Brendan Huynh
Many families in the bay area are facing this problem. What is this “problem” you may ask? It’s how expensive housing in the Bay Area has been. The expensive cost of living has affected a lot of us, especially in recent years.
What’s so special about the Bay Area that makes it so expensive? Well due to high employment in the Bay Area’’, the housing market has been on a rise.
According to a CNBC News article, published on October 11, 2019, called, ‘‘Google Expands plans for its massive second headquarters in San Jose,’’ it claims that “the company expects to house over 25,000 thousand employees in new offices.”
It has bought more than $400 million worth of San Jose real estate and more than $1 Billion in housing across the Bay Area.
According to Renthop.com from Rental Stats and Trends, an average 1 bedroom apartment goes for nearly $2,000. Which is a lot compared to many other states around the country.
Another factor that plays a major role in the cost of housing in the Bay Area is the low minimum wage. The minimum wage in the Bay Area is around $13.50 which is a lot compared to other states. If done minimum wage job is done full-time only $2,160 which is barely enough for rent and not enough support a family.
An interview conducted on Bob, he states he has lived in the Bay Area for 10-12 years and moved from Chicago, Illinois to sunny San Jose, California. His parents moved to the Bay Area from Chicago because of more freedom and high employment in the Bay Area.
Bob claims rent for him has gone up 1-2 thousand dollars ever since he began living here. When asked if his parents have ever considered moving out of state due to this high cost to live here they said they continued living here because, the environment, employment, and the people of the Bay Area.
According to another article called BayAreaEconomy.com. Bay Area cost of housing between 2000 and 2015 has seen an increase of 78.4%, which is one of the fastest-growing costs of living for the U.S metro areas. This means that Bay Area housing is nearly as double as expensive as it was 15 years ago.
Another interview conducted with a local real estate agent named Thomas Feng. He claims that the Bay Area is not the only place that is going up in housing, the other states being Seattle, New York, Boston, and Hawaii.
The Bay Area is a beautiful place to visit, but there is a cost to live here. That cost is expensive housing, inhumane working hours, and lots of stress. However, it is a wonderful place to visit because of the beaches, diversity in culture, and views, and high employment. It is a risk to live here but if you are willing to sacrifice yourself, then go for it!
Many families in the bay area are facing this problem. What is this “problem” you may ask? It’s how expensive housing in the Bay Area has been. The expensive cost of living has affected a lot of us, especially in recent years.
What’s so special about the Bay Area that makes it so expensive? Well due to high employment in the Bay Area’’, the housing market has been on a rise.
According to a CNBC News article, published on October 11, 2019, called, ‘‘Google Expands plans for its massive second headquarters in San Jose,’’ it claims that “the company expects to house over 25,000 thousand employees in new offices.”
It has bought more than $400 million worth of San Jose real estate and more than $1 Billion in housing across the Bay Area.
According to Renthop.com from Rental Stats and Trends, an average 1 bedroom apartment goes for nearly $2,000. Which is a lot compared to many other states around the country.
Another factor that plays a major role in the cost of housing in the Bay Area is the low minimum wage. The minimum wage in the Bay Area is around $13.50 which is a lot compared to other states. If done minimum wage job is done full-time only $2,160 which is barely enough for rent and not enough support a family.
An interview conducted on Bob, he states he has lived in the Bay Area for 10-12 years and moved from Chicago, Illinois to sunny San Jose, California. His parents moved to the Bay Area from Chicago because of more freedom and high employment in the Bay Area.
Bob claims rent for him has gone up 1-2 thousand dollars ever since he began living here. When asked if his parents have ever considered moving out of state due to this high cost to live here they said they continued living here because, the environment, employment, and the people of the Bay Area.
According to another article called BayAreaEconomy.com. Bay Area cost of housing between 2000 and 2015 has seen an increase of 78.4%, which is one of the fastest-growing costs of living for the U.S metro areas. This means that Bay Area housing is nearly as double as expensive as it was 15 years ago.
Another interview conducted with a local real estate agent named Thomas Feng. He claims that the Bay Area is not the only place that is going up in housing, the other states being Seattle, New York, Boston, and Hawaii.
The Bay Area is a beautiful place to visit, but there is a cost to live here. That cost is expensive housing, inhumane working hours, and lots of stress. However, it is a wonderful place to visit because of the beaches, diversity in culture, and views, and high employment. It is a risk to live here but if you are willing to sacrifice yourself, then go for it!