I always knew Bay area was expensive. But like everything else in my life, it strikes me a bit late now.
Some one who lives in Austin would probably buy a decent 5 Bedroom for 1/5th of the Price it costs in Bay area. They can afford to send their kid to Private School inspite of the mortgage. Here, after paying 750k, you wont be able to get a 3BR house in a good school district. Double income families, once into the mortgage mess, cant even afford to eat out. Heck, for the rent I paid for my studio apartment, you can rent a Posh double bedroom in Austin. No state tax in Texas while CA's governator is increasing taxes.
In terms of compensation, Salary, if you are lucky enough, you probably get 10% higher in CA which cant even cover rent. Competition at work is crazy. Weather is cool but I hear austin isnt bad either. Austin is just an example, I am sure there are equally good cities across.
It beats me why any one would choose to live in Bay area. Is this for the plate of Idli, Vada, dosa?
Label: has to go under moo point as I dont plan to buy a house in USA in the near future nor do I have a kid(unless immaculate conception is an option) or have found a father for that kid so most of the above points are irrelevant to me.