I keep hearing CoL but what's never discussed is assets and equity. Sure, houses cost more in the Bay Area, but then when you sell the house you get more money

I keep hearing CoL but what's never discussed is assets and equity. Sure, houses cost more in the Bay Area, but then when you sell the house you get more money. Meaning you can then retire in a low CoL place. But someone selling his cheaper house can't decide to retire in the Bay Area.