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Old 12-26-2014, 05:23 PM
 
Location: Aurora, CO
6,567 posts, read 10,287,257 times
Reputation: 9828

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Did my 12 year sentence in Dallas. Got the t-shirt, and will never go back. I'll gladly pay a little more to not have to live in a place with bland geography, crappy summertime weather, and bugs the size of Buicks. We sold the house we lived in for 9 years in Dallas for a loss. After just 3 years in Denver, my house has appreciated by 30%. Just sayin'.

Last edited by bluescreen73; 12-26-2014 at 05:33 PM..
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Old 12-26-2014, 05:27 PM
 
Location: Vineland, NJ
8,483 posts, read 10,476,805 times
Reputation: 5401
Quote:
Originally Posted by Mutiny77 View Post
Everywhere in NJ isn't expensive, such as south Jersey.
The South Jersey counties that border Philly are pretty expensive and they also represent the bulk of South Jersey's overall population.
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Old 12-26-2014, 05:30 PM
 
29,947 posts, read 27,424,696 times
Reputation: 18534
Quote:
Originally Posted by NOLA101 View Post
Statistically, there is much greater economic mobility in NJ than in the Sunbelt. You cannot argue with actual Census data cited in that NY Times.

I am also always befuddled why people think that places with cheaper housing are a "better deal". I never get that. A "good deal" on housing is one with a good rate of return, as it's an investment. The best rates of return for housing are in California, NYC, Boston, and DC, basically the areas everyone is complaining is a "bad deal".

Do you want a 401k with a 10% annual rate of return or a 401k with a 6% annual rate of return? Does it really matter if the buy-in costs are somewhat higher for the 10% rate of return? Most would probably say no, as long as they're making more money in the end.

But you personally may prefer the Sunbelt, and that's fine. In general, it isn't the smart choice from a financial standpoint, though.
You have to be careful not to generalize when it comes to this though, as economic mobility in any region of the country depends on a host of factors. And I believe that the NY Times study specifically looked at economic mobility for children born in into working-class/poor homes, not for transplants or other natives. But I do agree that it's a mistake to only consider housing costs and/or taxes when it comes to deciding on a place to live.
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Old 12-26-2014, 05:35 PM
 
12,698 posts, read 10,525,539 times
Reputation: 17606
Quote:
Originally Posted by White Wine View Post
As someone who grew up in a low-cost southern state and now lives in New Jersey, I can tell you that this is simply not true. There are things I like about New Jersey, but the high taxes and high COL are not one of them. The people who choose to leave NJ and places like it in favor of lower-cost states are not crazy, delusional, lazy, or stupid (most of them, at least).

Do you make more doing the same job in New Jersey as you would in, say Atlanta or Charlotte? Sure, but the increase of COL will not be proportional to the increase in your salary. In other words, your cost of living might double, but your salary likely won't (again, speaking from personal experience here). I plan on staying in the Northeast (if not New Jersey) for the foreseeable future. But I haven't ruled out a move back down south at some point, and I certainly don't fault anyone else for making such a move.

Even if your statement were true, why would I live someplace where I had to clear a bar 10 feet high in order to achieve the American dream, when I could live someplace else where I only need to jump 5 feet in order to clear the bar? You understand what I mean?
I don't know, I know plenty of people in NJ who have achieved the American dream by owning their own businesses and working their way up to wealth, or leaving a sh*tty home situation to go to school and create a good life for themselves. I even know immigrants who have managed to prosper here extremely well.

I really think a lot of it depends on how bad you want it, how much patience you have, and how hard you are willing to work and for how long. It also doesn't hurt to have connections.
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Old 12-26-2014, 05:36 PM
 
Location: Colorado Springs, CO
305 posts, read 182,452 times
Reputation: 1153
I live in the southeast, I would love for someone wanting to chase the American dream to buy my house so I can GTFO.
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Old 12-26-2014, 05:39 PM
 
Location: One of the 13 original colonies.
10,166 posts, read 6,499,222 times
Reputation: 8034
Quote:
Originally Posted by LostintheMatrix View Post
I live in the southeast, I would love for someone wanting to chase the American dream to buy my house so I can GTFO.


Somebody holding you there?? Probably not. GTFO now.
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Old 12-26-2014, 05:40 PM
 
12,698 posts, read 10,525,539 times
Reputation: 17606
Quote:
Originally Posted by Scotty011 View Post
Somebody holding you there?? Probably not. GTFO now.
Perhaps he can't sell his house
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Old 12-26-2014, 05:43 PM
 
Location: alabama.
2,322 posts, read 1,765,707 times
Reputation: 4700
Quote:
Originally Posted by Scotty011 View Post
Somebody holding you there?? Probably not. GTFO now.
hA !! thanks for that laugh
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Old 12-26-2014, 05:45 PM
 
Location: One of the 13 original colonies.
10,166 posts, read 6,499,222 times
Reputation: 8034
Quote:
Originally Posted by JerseyGirl415 View Post
Perhaps he can't sell his house


With the masses moving in, it should not be too hard to sell his house unless he lives in a dump.
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Old 12-26-2014, 05:45 PM
 
9,701 posts, read 7,262,937 times
Reputation: 9846
Quote:
Originally Posted by Mutiny77 View Post
You have to be careful not to generalize when it comes to this though, as economic mobility in any region of the country depends on a host of factors. And I believe that the NY Times study specifically looked at economic mobility for children born in into working-class/poor homes, not for transplants or other natives. But I do agree that it's a mistake to only consider housing costs and/or taxes when it comes to deciding on a place to live.
You're right, but the narrative on this thread is about working class folks supposedly having a better shot at the American dream in the Sunbelt. The Census data indicates otherwise. And obviously, individual results vary. There are people that would be successful anywhere and others who will never find success. It's more personal than locational.

But I am still befuddled over the mania over "cheap homes". I am always hearing "Gee, I can move to Little Rock and get a 3,000 square foot house; ya wanna know what that would cost in Connecticut or Southern CA?". I really don't get this line of reasoning.

Little Rock (not to pick on a city, but just giving an example) is cheap because it isn't in high demand, and the housing doesn't generate a good rate of return. Obviously housing will cost more in Newport Beach, CA or Greenwich, CT. People want to live in these places; they have amenities that are world-class, and real estate is a fantastic investment.

I mean, if you really wanna go cheap, and care about nothing else, move to Honduras, or Afghanistan, or Darfur. Compared even to rural Mississippi, you'll really be getting some dirt-cheap real estate. If safety is an issue, what about rural Moldova or something? Maybe Namibia, which is quiet and safe in the old German colonies. Much safer than the U.S. I mean, who cares, as long as real estate is cheap!
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