Saw this and thought how interesting it is. Somebody living in North Dakota making 100K for instance and how different it is for somebody making the same in the Bay Area. Would you, on what you earn be able to live in Manhattan? And how would you live? Or closer to home, how different would it be for me and my family, just to move across the river to The Couv?
More importantly, would you rather occasionally step in horse shit (N. Dakota) or human shit (Bay Area or NYC)? Location, location, location.
Income is generally relative to cost of living. in order to properly calculate what it would be like, the average cost of living should be taken into effect. For example the average cost of living in N. Dakota is far less than that of someone in NYC, so you will not see the same wages even from the same companies generally. People think pay is based on occupation, and it is to a degree, but more so, its based on cost of living of the region you are in. Thats why a plumber In nyc is going to make more than one in N.Dakota. its all relative....
I know that in Oregon we are one the highest cost of housing as a percentage of income. Country Club dues is pretty high hear as compared to other regions.
We live in an expensive area of the country (the price you pay for living in God’s country). But our wages are commensurate. When I was in Cleveland OH last year I ran into a pair of rowdy librarians (yes, they DO exist) from Youngstown (very depressed area) in town for a play. They had positions similar to the one my wife held here, yet they made $30K~ a year less. They each owner their own home but the real estate prices were nowhere near as high as ours. Heck, I could have a waterfront home on Lake Erie for less than my house here is worth. As @Orion Bailey pointed out, it’s all relative. Give me the Pacific Northwest any day.....
I’ve always thought that if we insist on using income tax as our main form of federal taxation, there should be a cost of living adjustment. People living in high cost areas get hosed.
I moved back to Vancouver just for this reason. Plus the education for kids is much better and you don’t get taxed to shit. dude $500k in Portland these days gets you an outdated fixer upper. Just for the thrill of living that city life. My girl and I both have a majority of our family in the nutty NoPo and it’s nice and all. In fact we were over there partying last night, but I just don’t think I’d ever move back. Never thought I’d say it but the older I’ve gotten the more I like space and not feeling crowded all the time
It depends on how you are paid. If you work in Oregon, you still pay OR income tax, even if you live in Vantucky. barfo
You ain't joking man. We did everything to the outside of the house 3 summers ago, but the house needs the entire inside remodeled.....even with all that work needed it is valued around 650k! For the hell of it I looked at what we could afford out in the suburbs.....couldn't believe my eyes at how nice and new the houses were in our range. But we like the neighborhood, so what are ya gonna do.
Here in Kona, federal jobs come with a COLA (cost of living allowance) of $5+/ hour over jobs in Hilo on the east side of the island. It is about an hour and a half drive. Crazy difference in housing costs, gasoline, cost of services, etc. needless to say many commute. A similar difference exists in many other hourly rate jobs in the private sector too.
A lot different for me. That would be a terrible pay cut. Might have to sell my home and move out of Lake Oswego. Wait a second, I've got substantial savings that might tide me through my remaining years. Actually, my wife and I pump a lot of our income back into out investments so we could live on less. House is paid for, car is paid for, free medical care for me and my wife gets medicare and discounted Blue Cross/Blue Shield from her retirement plan so what do we need money for? Well, there is that hefty property tax and I guess and we still have three families of relatives that need help.
I use to know a little boy who lived on a dairy farm in Idaho who loved stepping on cow pies, that were only dry on the surface, with his bare feet. Pretty disgusting. Personally, I'll take Lake Oswego where there's not even bull shit. Location, location, location.
