Reply to Gah, where is our money going?

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[quote=Anonymous]The Washington metropolitan area is becoming more like the New York City or San Francisco metropolitan areas. Would you purposely choose to live in those cities? Probably not, because we recognize that the ordinary cost of living in those cities is prohibitively expensive, and that our income of $350-400 K would not go very far in supporting an upper-middle class lifestyle.

If you believe that NYC or SF or DC are the only places that you can live because they are so cosmopolitan, and intellectual, and international, and cultural, then so be it. You are purposely making the tradeoff to live more modestly, and constantly worrying about money, precisely so that you can live in an area that is more cosmopolitan, and intellectual, and international, and culturally significant.

But what if, like the original settlers, or our founding fathers, or the pioneers, you believed that you can bring "civilization", and "intellectualism", and "culture" with you and raise your children with those interests and values wherever you may settle. Then an affordable world of options all over this country (or the world) open up to you -- outside of the very most desirable metropolitan areas.

Choose any place in the country -- Billings, MT, or Oak Park, IL, or Bloomington, IN, or Santa Fe, NM. I will choose the random (for me) area of Vestavia Hills, AL. As you can see $539K will buy you a perfectly nice, if not dream home. More importantly the public schools all have 10 ratings, so your children will be well-educated in an area where all your neighbors and friends also send their children to the public schools.

http://www.zillow.com/homedetails/5105-Club-Ridge-...Vestavia-AL-35242/974256_zpid/

Tuition in-state at the University of Alabama is $4,800/semester for a full-time undergraduate student. And since your kids plan to go there they can somewhat enjoy their high school years, without constantly worrying about the grades and extracurriculars needed for the Ivy League -- like everyone's children around here stress over.

Yes, there are federal jobs to be had in that part of Alabama, and private sector ones also. If you continue to earn between $350-400K there, you will not only feel rich -- you will be rich as well. But as the cost of living is so much lower in every respect (including state income taxes), you can afford to have a stay-at-home parent, or to take new jobs that only pay you between $250-300K.

That is one option for everyone feeling bad about their income in this area.  The other, is to realize that you live here because you love all that the region has to offer, and that you are willing to pay for the high-quality of cultural, intellectual, international, and cosmopolitan life. It is a trade off for sure. [/quote]

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