This statement is farcical. You do realize that the median wage in SF is less than $100k. How do you think those people are living?

Have you actually lived in SF or NYC? You're totally out of touch with the actual costs.

Yes, housing is expensive. But you can still easily get a solid apartment for $3k/m. Add in another $2k/m for food (high!) and that's still only $60k a year. You're still left with $10k more than the KC developer even started with.

Unlike you, I'm actually using real numbers and the reality on the ground. I made $150k/year in NYC and managed to save almost $100k/year.

Who does your taxes? Your take-home in NYC on a $150k/year salary is going to be like $90k. Spend $5k/month on food and rent, and you're saving like $20-30k/year.

What does the same apartment cost elsewhere though? Cost of living calculations are not for calculating how little you can possibly spend in a given location, they are for comparing the same standard of living in various places.

It sounds like you are willing to sacrifice your standard of living to make more money, which is fine, but not comparable to the parent's calculations.

Most of them are grandfathered in via rent control. Some immigrant groups give preferential treatment to people coming from the old country, but if you are on HN, you can't access those networks, and you might be too fussy anyway.

Your income after taxes in NYC would be about $100K (assuming Single filing status, no dependents, etc). That's without paying for literally anything, including rent, utilities, food, transportation, entertainment, internet, insurance, etc. Can you clarify how you managed to save so much?

Oh great thanks

Second, even that million+ condo only cost me a third of my salary, including property tax and HoA after tax breaks and shit. Literally everything else is essentially fixed cost (eg: while labor for renovations is a bit more expensive, the bulk of the cost is in the materials, which are shipped from out of state in most cases). Cars aren't any more expensive, etc.

So when you're borderline, big cities (I'm on the east coast, but same applies) are totally not worth it. You'd be living paycheck to paycheck. But once you reach a threshold, it's just better.

Now there's remote work that messes up with all that math, obviously.

Even if my property was to lose 50% of its value tomorrow, its still better than renting, or getting an expensive car, or whatever. And in the best case, it will have a hell of a return.