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Re: US real estate

Postby NURB » August 5th, 2015, 8:27 pm

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Mechanical Engineer III (taken from Salary.com... I know, it's not perfect, but its a quick resource for a comparison).


Designs, develops, and tests all aspects of mechanical components, equipment, and machinery. Applies knowledge of engineering principles to design products such as engines, instruments, controls, robots, machines, etc. May be involved in fabrication, operation, application, installation, and/or repair of mechanical products. Requires a bachelor's degree in engineering and 4-6 years of experience in the field or in a related area. Familiar with a variety of the field's concepts, practices, and procedures. Relies on experience and judgment to plan and accomplish goals. Performs a variety of complicated tasks. May report to an executive or a manager. A wide degree of creativity and latitude is expected.

Salary from San Francisco, CA
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Salary from Iowa City, IA
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Salary from Miami, FL
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Compared to Consumer Price Index:

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About the ratings here: http://www.numbeo.com/cost-of-living/cpi_explained.jsp
These are all relative to New York (value of 100 on all categories)
Chris Haar

twitter:@chrishaar

Those who define design as knowing how to use Illustrator will be condemned to using Illustrator their entire career. - @monteiro

Re: US real estate

Postby NURB » August 5th, 2015, 8:29 pm

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Cincinnati, since it was mentioned.

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Chris Haar

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Those who define design as knowing how to use Illustrator will be condemned to using Illustrator their entire career. - @monteiro

Re: US real estate

Postby rkuchinsky » August 5th, 2015, 9:56 pm

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Ok. So not far off from my made up example. Difference of +25% or so. House price show up to 3-4x more. I get that it's better to live in SF or NYC than Ohio or Iowa but the general prices across the board seem low. I guess I'm just biased living in Toronto.

I'll have do some real estate comparables to see the real picture. Boston, Portland, etc sure ain't NYC but not a bad place to live if you could get a house at half price. Not that I'm looking at moving.

R
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Re: US real estate

Postby Mr-914 » August 6th, 2015, 7:24 am

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1. For more on Vancouver read Ian Young's Hongcouver articles in the South China Morning Post.

2. Image

The US and Canada have a plentiful supply of land that could be developed. However, it is in homeowners interest to believe that we have an increasingly scarce resource that is becoming more valuable. Long-term, this will likely correct.

3. This over-evaluation has been greatly distorted in some markets by international buying. Vancouver and London are the top two that I know of. Local's salaries have not budged, but property values have skyrocketed as foreign money has come in. In both places, existing owners fight any regulations or policies that would contribute to reducing prices because they view this as winning the lottery.

4. It's scary when large amounts of the economy have suddenly become about rising asset values (ie real estate, art, classic cars) versus value creating enterprises.
Ray Jepson

"The key to success in this business is to find a boss who doesn't care." - Mike Rowe

Re: US real estate

Postby yo » August 6th, 2015, 11:30 am

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rkuchinsky wrote:Ok. So not far off from my made up example. Difference of +25% or so. House price show up to 3-4x more. I get that it's better to live in SF or NYC than Ohio or Iowa but the general prices across the board seem low. I guess I'm just biased living in Toronto.

I'll have do some real estate comparables to see the real picture. Boston, Portland, etc sure ain't NYC but not a bad place to live if you could get a house at half price. Not that I'm looking at moving.

R


Personally I'd rather live in Portland as well, but just general supply and demand. Of course home prices there have shot up over the last 10 years at a very high rate because people are gravitating toward it, but still low compared to SF.

Re: US real estate

Postby FluffyData » August 8th, 2015, 12:49 am


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Here's another less than cheerful perspective:

"IN THE 1950s, the average New York City apartment rented for $60 a month — around $530 in today’s money. With the US median wage at $5,000 a year, New Yorkers spent 1/10 of their salaries on rent. After World War II, apartments were so cheap and available that Manhattanites would regularly move every September just to get the landlord to repaint their new home. In those days, an apartment was a place to live. Now it is as much an investment as shelter."

https://lareviewofbooks.org/essay/why-y ... treithorst

We can thank Reagan and Thatcher apparently.

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