California transplant has forgotten what it's like to live somewhere else (Phoenix: sale, leases)

[MuscleCar]

I grew up in the Midwest and took a job in California 15 years ago.

You don't really begin to know what's going on with the world until sometime in your late teen years. By that account I figure I've spent more conscious time in California then in the Midwest.

I have a lot of friends and I know a lot of people from the Midwest move to Phoenix.

I know that California is a tough place to live, but I've been doing it so long now I think I have tunnel vision. I tell people I would like to leave but they just tell me I'm going to make less wages in another state and it doesn't make much difference. But I also see some people leave California and they say they love their new home, and never look back.

I make 70K year in aerospace, and have a $2000 mortgage. So that being said any other discussion about living in Phoenix is on the table. Thanks

[ShampooBanana]

Originally Posted by MuscleCar

I grew up in the Midwest and took a job in California 15 years ago.

You don't really begin to know what's going on with the world until sometime in your late teen years. By that account I figure I've spent more conscious time in California then in the Midwest.

I have a lot of friends and I know a lot of people from the Midwest move to Phoenix.

I know that California is a tough place to live, but I've been doing it so long now I think I have tunnel vision. I tell people I would like to leave but they just tell me I'm going to make less wages in another state and it doesn't make much difference. But I also see some people leave California and they say they love their new home, and never look back.

I make 70K year in aerospace, and have a $2000 mortgage. So that being said any other discussion about living in Phoenix is on the table. Thanks

Yeah, you probably make a bit less if you move to Phoenix (unless you are able to move up to a higher position with the move), but that difference should be more than made up for by the cost of living difference. EVERYTHING is cheaper here than California. Certainly housing (especially), but also things like gas, groceries, clothing, eating out, etc etc. Not to mention that with the equity you probably have built up and the down payment you'd be able to make you could probably afford a house twice the size as what you have now or in one of the nicest areas of town. Not saying you should, but you could. If you don't mind the summer heat, that's the appeal that Phoenix has for many people from more expensive areas.

[DetroitN8V]

Only a $70k salary with a $2k monthly mortgage? There's no way you're getting ahead other than with your house. You have to make a change one way or another.

[KurtAZ]

I kind of get what you are saying...family members who have lived and continue to live in CA are amazed once they get out of that bubble. My cousin-in-law (born, raised, went to college in CA) and I were talking about his desire to build a cabin somewhere but he felt it would be too expensive. When I started showing him cabin kits from $80k-$200k and lots in the mountains for $60k-ish he couldn't believe that it would be so "cheap" (his words) for housing. He was used to the LA area where $500k gets you a small condo. He had never lived or considered living anywhere else. Now he lives in Colorado, arguably not that big of a change but...different.

There are lots of variables to making a move to a different State but everyone that I have talked to that has left CA is very happy with their decision. Normally because they were able to walk away from the sale of a house with a large chunk of money and buy something either cash out or with a large down-payment while being able to maintain their salary.

[49erfan916]

Originally Posted by DetroitN8V

Only a $70k salary with a $2k monthly mortgage? There's no way you're getting ahead other than with your house. You have to make a change one way or another.

It's very common to allocate your paycheck to your housing and its expenses. I'm in the same boat so that is why I plan on selling my home later this year.

I have a friend who is paying 2.4k a month for his mortgage and he only brings in 2.5k from job A and 600 from job B.....

[Potential_Landlord]

You actually fit the demographic that has been leaving California in droves to "t", the (lower) middle class with incomes 40k-80k. I think California lost about 4 million, mostly to the neighboring states. The situation in California favors the rich and the poor while squeezing the middle class. The rich can afford to mitigate the utopian politics by sending their kids to private schools, driving Teslas and living in peaceful, super-expensive enclaves. The poor get subsidized well. The middle class has to live with the fallout like bad public schools, violence, rundown areas they can afford etc. without getting subsidized. This is why they left by the millions.

[BIG CATS]

Originally Posted by DetroitN8V

Only a $70k salary with a $2k monthly mortgage? There's no way you're getting ahead other than with your house. You have to make a change one way or another.

He's taking home roughly $5800 a month. Unless he leases a new McLaren 720S, I think he should be just fine, even after insurance, HOA, utilities, etc, are paid for.

[DetroitN8V]

Originally Posted by 49erfan916

It's very common to allocate your paycheck to your housing and its expenses. I'm in the same boat so that is why I plan on selling my home later this year.

I have a friend who is paying 2.4k a month for his mortgage and he only brings in 2.5k from job A and 600 from job B.....

That's insane. Not only are you not able to get ahead like that, but you'd probably be sinking into debt every month.

[DetroitN8V]

Originally Posted by BIG CATS

He's taking home roughly $5800 a month. Unless he leases a new McLaren 720S, I think he should be just fine, even after insurance, HOA, utilities, etc, are paid for.

LOL, no he's not. Taxes, healthcare and retirement are things.

[BIG CATS]

Originally Posted by DetroitN8V

LOL, no he's not. Taxes, healthcare and retirement are things.

Even with taxes and healthcare factored in (which should be deducted from his paycheck which we already factored in), there is still decent money to stash away, play with, invest, etc.