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Not really, since, if you take a mortgage to buy a house in SF/SV, you may have as much discretionary income left as someone in say, Alabama, BUT you're slowly
by taway_1212 9y ago
Not really, since, if you take a mortgage to buy a house in SF/SV, you may have as much discretionary income left as someone in say, Alabama, BUT you're slowly building a $1m+ asset (that you'll be able to sell once the mortgage is paid). So, $100k is only comparable to $65k in most of the rest of the country when you're renting.
- mamon 9y agoUnless we have another housing bubble burst and your 1 million $ asset falls down to 400k
- taway_1212 9y agoArguably, you're still going to be better off when compared against $200k-$400k house in a "cheap" state.