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$350k here in the bay area gets you a 3 bed 2 bath house approx. 1600sq/ft and a small backyard. Yea in SF you need to be making atleast $150k a year to buy a "nice" house.(I understand that is subjective). Rent in downtown SF averages between $2500 and $5k a month for something not roach infested and free of mold. You people on the east coast got it good in terms of housing.
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