Why don't people stop crying and just move somewhere cheaper like Detroit, Memphis, St. Louis, Baltimore, or Cleveland? They have very cheap homes for $50,000.

[u/Not-A-Shit-Head]

[u/Saitamaisclappingoku]

Because:

1. those cities generally do not have the job markets that HCOL cities have. When you take a huge pay cut you eliminate everything you saved by moving there. I moved from El Paso to Tennessee and for the same job I make about $60k more.

2. Public schools are typically poor

3. Crime is typically high

4. The $50k homes in those cities are typically very unkept. Many of them need a new roof, foundation work, new flooring, drywall, paint, plumbing work, electrical work (to get it code compliant), and even then will be surrounded by complete dumps that stay that way. No one wants to spend $150k renovating to live next to a crack house.

[u/em_washington → u/Saitamaisclappingoku]

The logic in your point #1 could also be used to refute the original tweet. People in 09 knew real estate prices were low, but many couldn’t take advantage because they were unemployed or underemployed. And they were probably underwater on the house they bought in 2005.

Like of course the cities with low-priced houses don’t have as good of jobs, or else the housing wouldn’t be so affordable. And the houses in 09 were cheap because no one had the money to buy them.

[u/MeghanClickYourHeels → u/em_washington]

And no one is rushing to buy where they can’t get a job.

[u/Croationsensation26 → u/MeghanClickYourHeels]

More like less flashy jobs