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Generally, the people working in those expensive places got compensated accordingly because it was so expensive to live in those places. So how can people who a
by jaywalk 5y ago
Generally, the people working in those expensive places got compensated accordingly because it was so expensive to live in those places. So how can people who are not working in those expensive places afford to live in them?
- PragmaticPulp 5y agoI know at least one remote person who got a raise by moving to a more expensive city. Their company had a simple CoL compensation adjustment that only accounts for zip code. Move to a more expensive zip code, get a raise.
- jaywalk 5y agoWell yeah, if you can move somewhere and automatically be compensated accordingly, then it makes perfect sense. I'm thinking about jobs where that sort of thing doesn't happen, as in a remote worker who is going to be paid what they're going to be paid regardless of where they live.
- 0x0nyandesu 5y agoI just bought a house for 900k outside of LA 30 minutes from Malibu. We could have lived in an apartment easily enough but I liquidated 50% of my crypto and stocks to use as down payment. The house is already worth 75k more. It was always the dream. I have no regrets. Yes I could have retired to somewhere cheap but I'm only 34 and my skills are in high demand seeing salaries in the 200k+ range. They are building housing here but so many people want to live here that no matter how much they build it will just all be absorbed immediately.
- jaywalk 5y agoCongrats on that (seriously!) but you were already wealthy and earning the type of salary that allows someone to live out there in the first place. You kind of proved my point.
- 0x0nyandesu 5y agoThere's no way I'd have been able to get the house without the crypto and it was mined, not purchased. So what I'm saying is yes I could have afforded an apartment but never a house and those are two totally different levels of wealth in a place like LA.
- jaywalk 5y agoOwning that crypto (however you obtained it) made you wealthy.
- 0x0nyandesu 5y agoJust gonna say that it's super relative cause in march of 2020 it was only worth 60k maybe. Then it peaked at 1.5 million in may 2021. Of course I wasn't able to time the sell off perfectly. It made one thing perfectly clear to me though. Building wealth is more about investing than saving.