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Old 01-18-2010, 05:37 PM
 
Location: where my heart is
5,642 posts, read 7,988,233 times
Reputation: 1661

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Quote:
Originally Posted by Mike Peterson View Post
You really are leaving many factors out of that equation.

The mortgage and taxes on that $600,000 home will probably run $31,000 a year more than the $250,000 home.

The highest average income is Ct with $55,000 and the lowest is Mt with $28,000. The difference in income tax will be around $10,000-$11,000.

So you make $27,000 more but have $41,000 more in expenses.

Even if the person making $28,000 only put away $2,500 a year in an IRA they could more than make up the difference between the sale price of the homes.
With that, people must be living on the streets in Ct. with those salaries and $600,000 homes.
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Old 01-18-2010, 06:17 PM
 
Location: Hernando County, FL
8,488 posts, read 17,968,986 times
Reputation: 5397
Quote:
Originally Posted by TANaples View Post
With that, people must be living on the streets in Ct. with those salaries and $600,000 homes. smack
Could you explain to me how you came up with your response to my post.

I really so no relevance between what I posted and what you posted.
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Old 01-18-2010, 06:23 PM
 
Location: where my heart is
5,642 posts, read 7,988,233 times
Reputation: 1661
"The highest average salary in Ct. is $55,000". If so many people there are making so little money, how can they afford to live in a $600,000, or a $400,000, or find one, a $200,000 home. Just the mortgage and food, forget taxes, won't make it on that.
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Old 01-18-2010, 06:57 PM
 
Location: Hernando County, FL
8,488 posts, read 17,968,986 times
Reputation: 5397
Quote:
Originally Posted by TANaples View Post
"The highest average salary in Ct. is $55,000". If so many people there are making so little money, how can they afford to live in a $600,000, or a $400,000, or find one, a $200,000 home. Just the mortgage and food, forget taxes, won't make it on that.
I compared the COL in CT with the COL in MT.

Do you have a comment on what I posted?
Do you have a differing opinion to what I posted?

I can't decipher what you are trying to say.

And if you are putting quotes around something you really should put exactly what was said.
I posted, "The highest average income is Ct with $55,000..."
not
"The highest average salary in Ct. is $55,000"

Those are really 2 completely different statements.
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Old 01-19-2010, 04:57 PM
 
1,164 posts, read 1,795,241 times
Reputation: 801
In many professions, salary isn't linked to cost-of-living. Engineers seem to make the same whether in New Jersey or Texas; so do nurses and biologists. Teachers make more across the north and west, but that includes the cheap midwest. So I'd pick high-salary, low cost-of-living.
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Old 01-19-2010, 09:14 PM
 
Location: Somewhere below Mason/Dixon
6,531 posts, read 7,489,771 times
Reputation: 10951
Michigan.... Very cheap, houses sell for under 100k all the time, as cheap as 30k sometimes. Pay is lower and jobs tough to get, but if you get ANY job at all you can support yourself here. Yea the northeast is more sophisticated, but its crowded and fast paced. In michigan you may only make 30k to 40k a year (if your lucky) but you can own a house and a car without a super career. Michigan has almost no traffic, and lots of space to spread out in. Half the state is cropland, much of the rest a total wilderness and a small part in the southeast is city (Detoilet). This state gets a bad rap as a dull cold flat midwestern place with no jobs. That reputation is not deserved. Yea our economy is bad, but the scenery is MUCH better than most would believe. The great lakes are beautiful, and the winter can be enjoyable. (ice fishing, snow machines, skiing etc) If people in the expensive part of the country realized how cheap it is to live here, more people would consider living in flyover states like Michigan.
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Old 01-20-2010, 07:55 AM
 
Location: Concrete jungle where dreams are made of.
8,900 posts, read 13,268,403 times
Reputation: 1819
Quote:
Originally Posted by jimmyev View Post
In many professions, salary isn't linked to cost-of-living. Engineers seem to make the same whether in New Jersey or Texas; so do nurses and biologists. Teachers make more across the north and west, but that includes the cheap midwest. So I'd pick high-salary, low cost-of-living.

Unless you're talking about California teacher salaries, no, the salaries out west are much cheaper than the northeastern states. I looked into relocating to the Las Vegas area, and what prevented me from moving there were the pitifully low teachers salaries. I would be making like 23,000 less out there. The COL isn't all THAT much lower there.
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Old 01-20-2010, 08:30 AM
 
Location: Atlanta
7,732 posts, read 12,172,018 times
Reputation: 2774
Quote:
Originally Posted by Rachael84 View Post
Unless you're talking about California teacher salaries, no, the salaries out west are much cheaper than the northeastern states. I looked into relocating to the Las Vegas area, and what prevented me from moving there were the pitifully low teachers salaries. I would be making like 23,000 less out there. The COL isn't all THAT much lower there.
You seem to have a habit of generalizing entire regions of the country by your experience with one, single City.

Las Vegas DOES NOT = the entire West, just as Naples does not = the entire South.
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Old 01-20-2010, 08:39 AM
 
Location: Concrete jungle where dreams are made of.
8,900 posts, read 13,268,403 times
Reputation: 1819
Quote:
Originally Posted by johnatl View Post
You seem to have a habit of generalizing entire regions of the country by your experience with one, single City.

Las Vegas DOES NOT = the entire West, just as Naples does not = the entire South.

I've looked into other western cities. While their starting salaries are higher compared to the midwest and south, the salaries never top out that high.
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Old 01-20-2010, 09:04 AM
 
Location: Atlanta
7,732 posts, read 12,172,018 times
Reputation: 2774
Quote:
Originally Posted by Rachael84 View Post
I've looked into other western cities. While their starting salaries are higher compared to the midwest and south, the salaries never top out that high.
Then you obviously haven't done as much research as you claim to have.

No place in the country is going to match the over-inflated salaries of your area, so you need to broaden your horizons a little before handing out advice.
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