L.A. is the most unaffordable city in the nation for buying OR renting! (Los Angeles: transplants, affordable apartments)

[YoungTraveler2011]

a 1 bedroom apt in manhattan is at least 2.5k and its a $hitty one.

so no, i wouldn't consider LA the most expensive yet.

[Martin Lutha Kang]

Originally Posted by Larry Siegel

In SF it would be $3500 and in New York (Manhattan), $6000. I paid $3250 for a *studio* in Manhattan, topnotch area, crummy building.

right, and a metrocard costs how much less than a car/insurance/petrol/maintenance/interest/repairs/taxes/registration/etc?

how much higher are nyc wages again? walking and taking the train versus being stuck in traffic?

[Larry Siegel]

Originally Posted by Martin Lutha Kang

right, and a metrocard costs how much less than a car/insurance/petrol/maintenance/interest/repairs/taxes/registration/etc?

how much higher are nyc wages again? walking and taking the train versus being stuck in traffic?

I had to pay my NYC secretary $112,500 - that's pretty high.

I didn't choose her. Human Resources did. She was old, alcoholic, and could barely use a computer. However, she knew everything about the company and could do things a young tech-savvy secretary could not. I could have filled the position nicely for $80,000. Still, *that's* pretty high.

[John_marts]

Originally Posted by Martin Lutha Kang

right, and a metrocard costs how much less than a car/insurance/petrol/maintenance/interest/repairs/taxes/registration/etc?

how much higher are nyc wages again? walking and taking the train versus being stuck in traffic?

Does anyone honestly think NYC's wages are that much higher where it justifies and evens out having to pay double in rent than even LA?

[CaliInChappaqua]

NYC salaries are not higher than LA's, in my experience. The cost of living in NYC metro is much, much higher than in LA, unless, of course, you are only looking at the westside -- then it's just higher. Even then, electricity, gas, and food will be much cheaper in LA. The only thing that costs more in LA is water. Even labor in LA is cheaper ... a bit contradictory as I'm saying that NYC wages aren't higher. What I'm getting at is that babysitters, repairmen, etc are much more expensive. As are nursery schools, daycare, and property taxes (income taxes are about the same). The subway isn't that cheap -- $2.50 per ride. If you live in the suburbs, commuter Rail is several hundred dollars, and then there is paid parking at the train station. LA has greater bang for the buck and much better weather, culture, food, outdoor opportunities.

[John_marts]

Originally Posted by CaliInChappaqua

NYC salaries are not higher than LA's, in my experience. The cost of living in NYC metro is much, much higher than in LA, unless, of course, you are only looking at the westside -- then it's just higher. Even then, electricity, gas, and food will be much cheaper in LA. The only thing that costs more in LA is water. Even labor in LA is cheaper ... a bit contradictory as I'm saying that NYC wages aren't higher. What I'm getting at is that babysitters, repairmen, etc are much more expensive. As are nursery schools, daycare, and property taxes (income taxes are about the same). The subway isn't that cheap -- $2.50 per ride. If you live in the suburbs, commuter Rail is several hundred dollars, and then there is paid parking at the train station. LA has greater bang for the buck and much better weather, culture, food, outdoor opportunities.

This!

How anyone can say people in NYC make a lot more money without factoring in literally everything else is ignorance. You know how much a pack of cigarettes cost in NYC? $15. yes that's right. I for one don't live there but visit fairly often.

Plus, if you work for a big company, your wages are going to be pretty similar from a low income area to a high income area regardless.

[Larry Siegel]

Originally Posted by John_marts

This!

How anyone can say people in NYC make a lot more money without factoring in literally everything else is ignorance. You know how much a pack of cigarettes cost in NYC? $15. yes that's right. I for one don't live there but visit fairly often.

Plus, if you work for a big company, your wages are going to be pretty similar from a low income area to a high income area regardless.

That may be, but I never got close to making the big bucks until I took a job in NYC. Before the move I was net negative (expenses greater than after-tax income), and a few years after the move I was saving $200K a year, if (as you should) you include my company's pension contribution. (I am now retired.) Although there are high-paying jobs in other cities, there aren't many, and the odds are against you. In New York, $500K+ jobs are commonplace and a lot of people earn in seven figures.

It's worth a few thousand a month extra in rent.

[fumbling]

LA/OC is half the cost of SF and has always been that way for at least the last 30 years in my experience.

[MordinSolus]

Originally Posted by Larry Siegel

That may be, but I never got close to making the big bucks until I took a job in NYC. Before the move I was net negative (expenses greater than after-tax income), and a few years after the move I was saving $200K a year, if (as you should) you include my company's pension contribution. (I am now retired.) Although there are high-paying jobs in other cities, there aren't many, and the odds are against you. In New York, $500K+ jobs are commonplace and a lot of people earn in seven figures.

It's worth a few thousand a month extra in rent.

You're talking anecdotal. The actual statistics don't back you up on $500K+ jobs being commonplace in NYC. The wealth gap is equally massive in NYC.

[marilyn220]

Originally Posted by Martin Lutha Kang

what do you expect? los angeles is a third world city with no real economy. it's losers suckling on uncle sam's ssi teats, people up to their eyeballs in debt or living with roommates well into their 30s (while still getting money from mommy and daddy back home).

I tell people this all the time. I say don't believe the hype or what you see on TV, because it's not true. The majority of LA is poor and LOOKS poor. Almost everyone has several roommates, even rich people living in mansions. Roommating seems to be a way of life in California and when you don't have one, you're seen as "strange" or having "too much space" to yourself.

sprinkled here and there is the working stiff who pays out a large chunk of his income in taxes and is mostly oblivious to the above (who are actually the majority of people in los angeles, but hey, ignorance is bliss). it's these vocal chumps from the chattering class are most hilarious of them all, convinced they're living in an oasis instead of a largely working class, impoverished suburb with rampant homelessness. miley cyrus anyone? lol.

Millions of homeless EVERYWHERE. All over the state. Like...just EVERYWHERE.

also, it's a town full of delulsional dreamers where everyone's a winner. that's why they keep reinflating the real estate bubble out there.

Someone posted this a few years ago, but it still holds true today. Many people in LA are into the "think happy thoughts only" and "if you build it they will come" mantras of the Oprah and Tony Robbins self-help nonsense. These beliefs teach you NOT to prepare for "failure", because if you do, then you're inviting it into your life, so you must only think "happy thoughts" and prepare for them like there's no tomorrow.

As you can see from the amount of evictions, homelessness, drug addictions and desperado atmosphere of the city that this "think happy thoughts" stuff doesn't work.

Now with that said, I still think LA is a cool place due to their "Live and Let Live" attitude, but there are no good paying jobs there in which you can live decently ON YOUR OWN WITHOUT ROOMMATES.