Just because it worked before, for years maybe, doesn’t mean that it will continue to work.
The clues will always be there, depending upon the situation, and you will most likely feel them, but the question is, will you evolve and heed them?
We knew of a real life situation where a young couple from an affluent area got married.
Hey, we’ll be more specific. We live in Nor Cal, they live in the San Francisco Bay Area. That is about as affluent as it gets.
If you are young and newly married, that is not necessarily a good thing.
It is all about those median housing prices and surprisingly there is good news and bad news.
According to the informative San Francisco real estate and local information source sf.curbed.com, on August 26, 2019 they reported, “The California Association of Realtors tabulated house sales across the Bay Area last week and found that, once again, prices overall dropped in July compared to last year in almost every Bay Area county.
The overall drop came in at 3.1 percent from July of 2018, to a Bay Area median sales price of $950,000 year over year. By and large, this is pretty much what house prices in the nine counties have done all year.”
Bad news if you are a seller and bought in very high. Way high.
Great news if you currently have enough resources to buy.
Which usually doesn’t describe a young person’s situation.
Our young couple have decisions to make. Especially if they desire to have children and want to buy a home. Heck, even a condo would be great.
According to the California Association of Realtors, the median price of a home in San Francisco in January of 2019 was $1.33 million, with a regional high of $1.45 million in San Mateo County.
That is a lot of dinners out with friends.
As often happens in young affluent circles, after graduating from college, some of their parents will place the down payment on a house while others in their circle of friends will have to figure it out for themselves.
Parent’s orders.
So in the case of some of the circle, they are already moving into the future. They are starting a family and even the less than ideal job will pay the bills.
In the case of Sabrina and Matthew they bought into the affluent lifestyle but they don’t have the mean green to back it up.
They would like to have children too but the longer they stay in the San Francisco Bay Area, dining, traveling and socializing, the more that is going to become a pipe dream.
What should they have done?
Maybe what should they still do?
Buy out of market.
Take their ego and social circle out of the equation. It was what a number of their friends did.
It is a hard truth they are going to have to face and the sooner the better. Otherwise whichever of the two wants the child the most, they will begin to resent the other for keeping them trapped in a financially challenging situation that is not likely to improve.
It will get worse.
Over time as the lives of their friends evolve, who did buy out of market, and they begin to have children (yes plural) and place their mortgages on 15 year loans and quickly begin to pay them off, the renter will continue to get left further behind.
Comparisons will be inevitable. That is simply human nature.
What would you do in that situation?
We deem what they should do is change and evolve. Move out of market. Yesterday. Also take a huge risk.
Become an entrepreneur.
fciwomenswrestling.com grapplingstars.com femcompetitor.com, pexels.com-Bruce-Mars-photo.
Please don’t look at us like we are crazy. Because we aren’t. Well, at least not at this moment.
Anyway, what was the point of going to college if you are not going to put some of the business courses to good use?
All of the ingredients are them to do it in this modern world.
The Internet has changed everything. You can market your product from the comfort of your apartment, Condo or home without a lot of overhead. Two heads and wallets to invest are absolutely better than one.
Don’t quit your day job just yet.
How do you know what to market?
Start with what you love. It is the best way. There are two of you so both of you can split up duties and work on it depending upon your skill sets.
Think about it. Though a gamble, it is probably the only way.
By the way. Between the two of you, go with what you believe is the most marketable idea. Please don’t let your feelings and emotions get in the way.
If you are working for a company, the government or anyone else, how will you compete with entrepreneurs, which in the case of our sweet couple here, the San Francisco area is filled with them. Stacked in high rise Condos to the Starbucks brim.
This entrepreneurial concept continues to trend.
As posted by entrepreneur.com, “For decades, Richard Florida, best known for his book The Rise of the Creative Class, has been studying the impact that density has on creativity. In one study, he and a research team studied over 240 different metropolitan areas, and compared the density of creative workers to the number of patents -- a reflection of the level of innovation. They found that as density increased, and creative people found themselves more tightly packed, the number of patents also went up.”
Is there a city more densely packed than San Francisco?
Necessity is the mother of invention.
We turn back to the experts of all things San Francisco at sf.curbed.com who enlighten, “Eyes are on San Francisco’s tech scene for 2019, as both the markets and the city brace for a round of new initial public offerings at some of the biggest SF-based startups.
Companies like Lyft, Uber, Slack, and Airbnb may go public in the coming months, potentially injecting a huge amount of new wealth into the Bay Area.”
See what we mean?
“A lot of people say I was brilliant. I wasn't. I was an opportunist: a young entrepreneur who saw things and took advantage.”…Frank Abagnale
They didn’t say there was an increase in jobs, so there will be more competition for housing. It is the entrepreneurs who rule.
If you can’t beat them, maybe join them?
Could be an innovative idea that will help you as a couple evolve.
~ ~ ~
Opening photo fciwomenswrestling.com grapplingstars.com femcompetitor.com, pexels.com-Humphrey-Muleba-photo.
https://sf.curbed.com/2019/8/26/20830290/july-sf-housing-price-dropped-2019-car-compass
