Quote:
Originally posted by AGDee
I think that when you are evaluating these differences you have to look at the cost of living in each state as well. Real estate in Connecticut is absolutely insanely high. Salaries tend to be higher in areas where the cost of living is higher. I bought a 1350 sq. ft, 3 bedroom ranch with no garage and a 120 x 60 lot for $137,000 in Michigan. My brother, the same year, bought 10 acres, lake front, wooded property with a 2500 sq. ft house with garage and pole barn for $119,000 in Arkansas. Who has more disposable income? Definitely him!
Dee
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Cost of living and and salary often go hand in hand; when you talk about areas such as NYC, San Francisco and Boston, where real estate is truly "insanely" high, you're also talking about higher average salaries. (being from CT, I can tell you that housing prices aren't THAT high in most parts of the state; real estate taxes are a whole other story though).
When you're talking about disposable income though, to be completely general, I'd think it usually works out the same. This isn't to say that the guy behind the counter of a 7-11 in NYC, living in NYC wouldn't have considerably less money to use, but again I'm speaking very generally.
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