Do you think $1 million is a lot of money? I bet you do, because it sounds like a lot of money. That's why many game shows and reality TV shows set that to be the prize money. (Or should I say it's actually not a lot of money precisely for that reason?) $1 million might sound like a lot of money, or any amount using that as a unit thereof, e.g. "half a million ($500,000)," or "quarter of a million ($250,000)."
Well, let me tell you this: $1 million is NOT a lot of money, especially in the bay area. No, just because I say that doesn't mean I have a few millions lying around in the bank, so don't bother finding out who I am , where I live and try to rob me or kidnap my cats (catnap?). So why do I say that? Depression from house hunting.
You know what $250,000 (a quarter of a million) can get you in the bay area? Nothing. And I do mean nothing. Not even a shed in someone's backyard. What about $500K, you may ask. Now we are talking. Perhaps, perhaps a condo in a semi-decent (I do mean semi-decent) area, or a house in a questionable area. What is "questionable" area, you may ask. Well, bad neighborhood, brand new house next to the landfill, or across the street from the ghetto. Seriously, we have seen this road (a regular residential road, not even an expressway) dividing brand new houses from very bad neighborhood. Um, the bad elements can cross the street, you know? And, of course, houses/condos build on top of CA's famous naturally occurring abestos.
Well, what does a decent house in a decent neighborhood cost? You may ask. Think $1000 per square feet. So unless you have $1 mil or $2 mil to spare, don't even bother. But you said $1 mil is not a lot of money? $1 mil might be the price tag of a (1,000 sf) house, but let's not forget closing cost, property tax, and HOA. All in all, it's very depressing...