03-09-2016, 05:50 PM
stupac is absolutely right. Living in SF/LA/NY is a choice. Sending children to private school is a choice. $500,000 a year doesn't make you immune from economic choices, but I think anyone who feels like they are struggling at that income level is probably making bad choices. I have a friend who is being recruited to a faculty position in Denver, and the real estate agent who they met with said that she would not be able to find a house as modest as they have now (they have a three bedroom/~1500 sf house, which, because they have no kids, is plenty comfortable for them) for the amount of money they have available. So, they have to weigh getting more of a house than they need or want versus paying taxes on the capital gains from the house they bought. I know there is at least one poster here who moved from the Bay Area to Michigan, and can probably comment on how much further $500k/yr will get you there compared to the Bay Area.
It reminds me of this article that made the rounds a few years ago:
http://www.bloomberg.com/news/articles/2...cheap-chex
BC
It reminds me of this article that made the rounds a few years ago:
http://www.bloomberg.com/news/articles/2...cheap-chex
BC