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Old 03-25-2015, 11:34 AM
 
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Quote:
Originally Posted by waronxmas View Post
Here's the thing in Atlanta: Everything is cheap here, at all levels. A $40k goes about the same distance as an $80k salary elsewhere.
Yes, but the same can be said about Houston and Dallas though...I'm sure part of it is the fact that the recession killed Atlanta's economy for 5 years or so....only now are we beginning to see very high job growth and hopefully wage/salary increases again because Tech salaries are low here compared to other cities. Los Angeles is the same. Both cities are 2 years behind their counterparts and only now beginning to show signs of life(LA also had the highest raw job growth in the nation).
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Old 03-25-2015, 12:46 PM
 
Location: Tokyo, Japan
6,479 posts, read 7,714,517 times
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Quote:
Originally Posted by The_Hate_Train View Post
For the benefit of lazier statisticians such as myself, what is the prime difference between "Total Personal Income" and "Metro GDP"?

(Very nice compilation and discussion, BTW).
Total Personal Income is a measurement of annual income that is accumulated by all persons of working age/holding a job. Essentially it is the sum of all personal income accounted for in an area and a measurement of how productive those human lives/people are relative to elsewhere in the country and world (total personal income per capita income).

Gross Domestic Product on the other hand is a measurement of economic size and productivity. From the small pen sold at the Hudson Newsstands in every city's airport to entire industries like tech, biotech, nano-tech, healthcare, education, energy, finance, logistics, manufacturing, law, all of it combined together annually to represent the total accumulation of productivity in the area/region. All goods and services.

No better measurement than this one for determining the value in regards to productivity for each human life in each respective city in America.
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Old 03-25-2015, 06:18 PM
 
9,701 posts, read 6,673,025 times
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Quote:
Originally Posted by waronxmas View Post
Here's the thing in Atlanta: Everything is cheap here, at all levels. A $40k goes about the same distance as an $80k salary elsewhere.
I always wonder what people are talking about when they make such statements.

Obviously 80k in Atlanta is the same as 80k anywhere else. Basically everything, except for real estate ownership, costs about the same in every U.S. city. It isn't like you pay more for socks or groceries or tires in SF as opposed to Atlanta.

And the only difference, real estate, is only because the returns are better. SF is more expensive for real estate because its a heck of a lot more profitable. So even this "difference" is just the difference between any high return and any low one, no different from varying equities and the like.

I have lived in the most expensive U.S. cities and in the cheapest ones, and trust me, 80k is 80k wherever you go. It's all the same currency, you aren't spending more because you choose to move somewhere else, your 401k isn't performing differently, your car isn't costing more, pizza delivery isn't costing more, you're only spending more if you make the decision to spend more money regardless of location.
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Old 03-25-2015, 06:53 PM
 
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^^^I highly disagree. I've lived in Atlanta, and SF, and other cities. Things of all sorts ARE cheaper in Atlanta. Pizza delivery IS more expensive in NYC and SF. The pizza itself is probably only a little more expensive, but what really gets you are the fees. Getting your hair cut in NYC and SF is A LOT more expensive than getting your hair cut in Atlanta.

When real estate is that much more expensive (and that translates to the rents businesses must pay and the higher salaries business owners must pay employees so they can live), then everything is more expensive.

And guess what? Things in Atlanta are more expensive than they are in other southern cities! I used to go to Nashville and be pleasantly surprised at my brunch bills - they were cheaper for the exact same food than they were in Atlanta!

Your point about real estate is also not true. Most residential real estate is not thought of as an "investment", per se, but as a place to live. Buying an apartment/rental building (of any size) is an investment. Buying a house where you live and work in order to raise a family in a bit more space than in an apartment is a decision one makes when the time comes. You hope that you make a wise decision about where you do spend money on a house (as in safe area, good school district, good neighbors, good neighborhood, etc), but you're not just making a financial investment. Or at least, that's NOT how you should look at it.

If you're without kids or single, affluent, and a gambler -THEN yea, real estate can be a lucrative side investment. A second home is a type of investment, ranging from an illiquid bank account to a currency hedge to a tax shield to an actual IRR type of play. A primary residence should only serve as such as a secondary benefit, but that should never be the primary reason for owning a single home.
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Old 03-25-2015, 09:57 PM
 
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The cost of living is definitely more expensive across the board in SF over Atlanta and that includes eating, gas, real estate, rents, and groceries. Taxes as well because of California. 80k goes much farther in Atlanta over SF, but you knew that, NOLA.
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Old 03-26-2015, 12:30 PM
 
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COL is still a factor (especially with housing, taxes, gas etc) but.. on top of things that were already not directly affected by regional cost of living (dumb examples: a vending machine, a bet, a XBOX One on Amazon), the internet continues to give higher salary areas more instances where they have greater purchasing power.
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Old 03-26-2015, 10:31 PM
 
Location: Atlanta ,GA
9,086 posts, read 12,861,080 times
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Quote:
Originally Posted by NOLA101 View Post
I always wonder what people are talking about when they make such statements.

Obviously 80k in Atlanta is the same as 80k anywhere else. Basically everything, except for real estate ownership, costs about the same in every U.S. city. It isn't like you pay more for socks or groceries or tires in SF as opposed to Atlanta.

And the only difference, real estate, is only because the returns are better. SF is more expensive for real estate because its a heck of a lot more profitable. So even this "difference" is just the difference between any high return and any low one, no different from varying equities and the like.

I have lived in the most expensive U.S. cities and in the cheapest ones, and trust me, 80k is 80k wherever you go. It's all the same currency, you aren't spending more because you choose to move somewhere else, your 401k isn't performing differently, your car isn't costing more, pizza delivery isn't costing more, you're only spending more if you make the decision to spend more money regardless of location.
That's just not true AT all.Gas can cost more than $1more.In SF and cities like NYC you have a city income tax also along with the state income tax

Texas has no state or city income taxes.Thats also a factor in how money can be stretched.

Do you know how much it is for a parking space in cities like Seattle ,Boston or Chicago?Even rents are ridiculously high.I have lived in MANY different cities while in the Air Force and I can tell you it can be a HUGE difference.

SF is more expensive because its dense and there is less inventory.The average person cannot afford SF.Look at how Oakland is booming,People are leaving SF for a city once looked down on as ghetto.The only people left are those making well above the average.Especially those who want own a home.
If you look at the hottest housing markets they are not concentrated in the West but the South

Last edited by afonega1; 03-26-2015 at 11:11 PM..
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Old 03-26-2015, 10:32 PM
 
Location: Atlanta ,GA
9,086 posts, read 12,861,080 times
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Quote:
Originally Posted by Ant131531 View Post
Yes, but the same can be said about Houston and Dallas though...I'm sure part of it is the fact that the recession killed Atlanta's economy for 5 years or so....only now are we beginning to see very high job growth and hopefully wage/salary increases again because Tech salaries are low here compared to other cities. Los Angeles is the same. Both cities are 2 years behind their counterparts and only now beginning to show signs of life(LA also had the highest raw job growth in the nation).
Texas has no state taxes.It makes a big difference.
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Old 03-27-2015, 12:45 AM
 
1,353 posts, read 1,136,312 times
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I think the below are pretty indicative:

New York vs San Francisco, the two cities at the top of the way too expensive food chain in NA:

Moderator cut: link removed, linking to competitor sites is not allowed

Then San Francisco vs Atlanta:

Moderator cut: link removed, linking to competitor sites is not allowed

Another good one:

http://www.usnews.com/news/blogs/dat...-for-a-haircut

Last edited by Yac; 04-14-2015 at 07:29 AM..
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Old 03-27-2015, 01:02 AM
 
Location: Atlanta ,GA
9,086 posts, read 12,861,080 times
Reputation: 2908
Quote:
Originally Posted by anonelitist View Post
I think the below are pretty indicative:

New York vs San Francisco, the two cities at the top of the way too expensive food chain in NA:

Moderator cut: link removed, linking to competitor sites is not allowed

Then San Francisco vs Atlanta:

Moderator cut: link removed, linking to competitor sites is not allowed

Another good one:

What America Pays for a Haircut - US News
Exactly!This site was the first thing I thought about with those absurd statements

Last edited by Yac; 04-14-2015 at 07:29 AM..
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