Is the Bay Area the biggest fraud ever?

This week marks my 10th anniversary since I moved to the Bay Area. Over all these years, I've met some of the best friends I've ever had, only to see them move out of state a few years later due to cost of living.

Today, I just got word from another person on my social circle who is moving to Colorado. They are leaving after 2 years. All of them tell me roughly the same: they make more but it's not enough to make up for the difference in cost of living, higher taxes and overpriced housing. It happens over and over again. It seems like this place is very transitory for everyone: people come with dreams and fantasies, they face the reality of the Bay, and they leave.

I myself bought a house a few years ago. My monthly mortgage makes me cringe and I'm not even that happy with the place. I feel I'm paying a premium to live in a pretty modest, older home. And while it did build some equity, it's not really enough to move up to something more impressive. And yes I also got raises over the years, but again not even close to being enough to upgrade. Home equity and raises are good, but other nicer homes also went up by a lot so it's meaningless at this point.

I'm getting tired of this rat race and of seeing people coming and going for the same reasons over and over. Maybe it's time for me to cash out that equity and go to another state too? I feel defrauded in this place. Like I pay a premium for everything and don't really get a quality of life compatible with what I spend. I expect more... Much more.

Thoughts?

TC: 320K

#mortgage #housing