NW-Bound
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
- Joined
- Jul 3, 2008
- Messages
- 35,712
I do not know about Alexandria, Virginia, but this sad story makes me think about the peril people in high-value RE area face. That is high rent or high mortgage is OK until you lose your job, or your high-tech employer stumbles. Then, it is hell to get out of the obligations that you carry.
If you get hired by a well-known high-tech firm like Google, it's hard to say no, even if the higher pay still does not make those million-dollar bitty homes affordable. I have told here the story of how my brother quit his job at Google, and gave up the higher pay and also option worth around $500K when they wanted him back. It's all because of the housing situation. One would have to be among the first few employees and with loads of shares to feel comfortable living there.
If you get hired by a well-known high-tech firm like Google, it's hard to say no, even if the higher pay still does not make those million-dollar bitty homes affordable. I have told here the story of how my brother quit his job at Google, and gave up the higher pay and also option worth around $500K when they wanted him back. It's all because of the housing situation. One would have to be among the first few employees and with loads of shares to feel comfortable living there.
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