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March 22, 2017

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So much yes to this. After college many of my friends flocked from our extremely affordable city to places like NYC and LA. I know people are seeking adventure, but it's a disastrous move financially (especially since most of them studied Theatre).

I see what you mean, I lived in San Jose for three decades and fully agree with their top score in quality of life, but I guess their high housing costs knocked them all the way down to #3 on the list! Still not too shabby.

Bottom line what drives local cost of living is the earning and spending power of the inhabitants. Some people who are bothered by "not keeping up" would probably be better off living in a place where they can lord it over their neighbors. But for those of us who aren't concerned about measuring up or impressing anyone with our "lifestyle", I think the better opportunities that come from working with (and in many cases marrying) high earners has a larger effect on our net worth. IOW for those who attach status to income rather than outgo, the expensive city may be the better choice.

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