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Originally Posted by The Cleaner
I actually ratchet the post down a lot from what I wanted to say. I don’t really buy the argument that people can’t afford to live close to work. In fact one can argue it’s more expensive to drive 50 miles each way to get to work than it is to buy closer to work.
Bridges in the bay area are 4-5 bucks a day and many people have to cross 2 per day, diving 25k miles a year will wear out a car every 5 years, so thats about 25 dollars a day in car payments. Add in lets say 5 gallons of gas a day at 3 bucks is 15 more dollars a day. So just to get to work we are talking roughly 45 bucks a day, average 21 working days a month and you have 945 dollars a month to get to work. I don’t include insurance or cost of your time in that calculation. It’s a generally fair number. 945 paid into a mortgage can significantly improve your buying power.
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You need to check out the real estate market then. My current home, 4000sqft cost lets say north of 3/4 of a million. Now a home near my work at 2600sqft costs the same and is 15 years older. That downsize is not an option.
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