4 ms·

To some extent, but there are definitely regional differences. Living in Boston is just more expensive than living in Houston. Controlling for everything else,

by mlac 5y ago

To some extent, but there are definitely regional differences. Living in Boston is just more expensive than living in Houston. Controlling for everything else, Boston just doesn’t have the land or labor available to build houses like Houston can. This makes it cheaper. Then factor in no state tax and generally reduced gov fees of Texas, and it’s a lot easier to have a higher quality of life (in the material sense) in Houston than in Boston. I do think this impacts a number of things, including diversity and reduced barriers to achieving success (Houston is the most diverse city in the country).

z3ugma 5y ago
I feel like in the long run this balances out and that's part of what's priced into the COL. Houstonians are in a boomtown getting a temporary advantage that could be offset in the long run, whether by industrial decline, climate change and severe weather, traffic, or some other factor. Boston does have a Superfund industrial past to reckon with and a lot of outlying MA cities like Worcester, Lowell, Fall River are definitely not balancing out on the implicit/explicit scale by comparison to Boston. What is the "core" of Houston that will retain its benefit when the tides turn?
- mlac 5y ago
  Assuming by the tide you mean oil and gas. There was a saying that if you’re in Houston you’re either there because you’re sick or in oil. They’ve got a huge medical industry that brings a lot of value. MD Anderson has world leading cancer research. They’ve got Rice, U of H, and a ton of other schools that provide solid educations. NASA is still there. Thriving cultural district, incredible food scene. Shipping channel and port are the biggest in the Gulf (didn’t check, but I can’t think of others that would do more). Anything you can want, from any industry, most likely exists within a 1 hour drive at a world class level. This is true of any big city, but I’m not sure that oil going away will just cause Houston to fold up and close shop. Houston has been through booms and busts before and I’d say they’re more ready to handle moving away from Oil now more than ever, and getting more ready every year. It’s a scrappy town that takes punches, puts in work, and helps eachother get back on their feet (See Hurricane Harvey). If I had to pick between Houston and Chicago, I’d pick Houston any day. Much more livable city, a way lower tax burden, and it still feels like a place where anyone can make it - and that may be driving the diversity and immigration (it’s also a sanctuary city).

by mlac 5y ago

z3ugma 5y ago

I feel like in the long run this balances out and that's part of what's priced into the COL. Houstonians are in a boomtown getting a temporary advantage that could be offset in the long run, whether by industrial decline, climate change and severe weather, traffic, or some other factor. Boston does have a Superfund industrial past to reckon with and a lot of outlying MA cities like Worcester, Lowell, Fall River are definitely not balancing out on the implicit/explicit scale by comparison to Boston. What is the "core" of Houston that will retain its benefit when the tides turn?

mlac 5y ago
Assuming by the tide you mean oil and gas. There was a saying that if you’re in Houston you’re either there because you’re sick or in oil. They’ve got a huge medical industry that brings a lot of value. MD Anderson has world leading cancer research. They’ve got Rice, U of H, and a ton of other schools that provide solid educations. NASA is still there. Thriving cultural district, incredible food scene. Shipping channel and port are the biggest in the Gulf (didn’t check, but I can’t think of others that would do more). Anything you can want, from any industry, most likely exists within a 1 hour drive at a world class level. This is true of any big city, but I’m not sure that oil going away will just cause Houston to fold up and close shop. Houston has been through booms and busts before and I’d say they’re more ready to handle moving away from Oil now more than ever, and getting more ready every year. It’s a scrappy town that takes punches, puts in work, and helps eachother get back on their feet (See Hurricane Harvey). If I had to pick between Houston and Chicago, I’d pick Houston any day. Much more livable city, a way lower tax burden, and it still feels like a place where anyone can make it - and that may be driving the diversity and immigration (it’s also a sanctuary city).