No, he's only counting interest on the loan, and his wife is paying half. It's not even remotely a fair comparison to a single founder living in the city.
A more realistic "cheap" lifestyle in SF is probably $2500 a month if you're living on your own. And renting is substantially cheaper than owning here, unless you play stupid accounting games to pretend that you're not actually spending money.
What games would those be? What I did was: a) exclude principal repayments (they are not a cost, they are an investment. They are also entirely optional - any house buyer can take an interest only mortgage). b) factor in the tax advantage (which is actual money in my pocket, either by paying less withholding, or by getting a check from the IRS at the end of the year).
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Im looking for apartments in SF right now and can't find anything (decent) under $1700 for a 1 bed 1 bath. Maybe I just have expensive taste:).
No, he's only counting interest on the loan, and his wife is paying half. It's not even remotely a fair comparison to a single founder living in the city.
A more realistic "cheap" lifestyle in SF is probably $2500 a month if you're living on your own. And renting is substantially cheaper than owning here, unless you play stupid accounting games to pretend that you're not actually spending money.
>unless you play stupid accounting games
What games would those be? What I did was: a) exclude principal repayments (they are not a cost, they are an investment. They are also entirely optional - any house buyer can take an interest only mortgage). b) factor in the tax advantage (which is actual money in my pocket, either by paying less withholding, or by getting a check from the IRS at the end of the year).