I make a pretty good sum of money (over 100K), but I live in California, I simply cannot afford to own a home here, The most I could afford according to the bank is 400K. Well guess what, not too many of those houses out here and when they are on the books, people are buying them up to resell them.
Now, if I were able to make 100K in Missouri? well that is a horse of a different color, but again, it is not because a gallon of milk costs that much less, or even a gallon of gasoline, it is simply the cost of a home.
What is the answer. I don’t know, if I did, I would be in public office or something. I would have to say that whatever salary we pay our top elected officials should equal to someone being rich.
I agree. I grew up in the SF Bay Area (thus the allegiance to the 49ers). I moved in 2001 because my wife and I with our $150K+ dual income couldn’t get into a single family home within 75 miles of our work. Ti was ridiculous. We now live in Phoenix, and we make significantly less (as she is a stay-at-home mom) and we live in a nice 2500 sq foot home that would cost at least $750,000 where I grew up. No we didn’t pay even a third of that for our house.
Alas, I personally feel that the only fair solution would be to abolish income tax and institute a national sales tax on all items not called home or food. This would protect the lower and middle income giving them their top costs at no tax expense, while taxing luxurious lifestyles, etc. Oh the proposal has a name, it’s called the “FAIR TAX”. It doesn’t tax you for working and earning, and it gives those who don’t earn much a break as their primary expenses wouldn’t be taxed.