>Scrounging up a down payment when even a 2 bedroom apartment is $1-$1.5 million is not the easiest task.
This is why I don't live in the Bay Area, and have no plans to. I was casually surfing Trulia, and found new construction in my area starting at $170k for a 3 bed/2 bathroom. The idea of paying that much for an apartment(!) is simply foreign to me.
That's not the case at all for me and my millennial friends who have spread out to over a dozen different cities. Even my CS friends didn't move out of the midwest and are still in Chicago, Fort Wayne, and Indianapolis.
This is why I don't live in the Bay Area, and have no plans to. I was casually surfing Trulia, and found new construction in my area starting at $170k for a 3 bed/2 bathroom. The idea of paying that much for an apartment(!) is simply foreign to me.