Are you saying that "high" COL means a house costs $500k? in my limited experience, you're off by 1.5-3x.
The house I spent my teenaged years in was purchased for less than 100k and will still sell today for less than 100k. I think my mom would get her money back, and maybe some appreciation, but the sale price of that home will reflect the dwindling economy of the town and region it's in.
In contrast, the house for sale a quarter mile from my current apartment is listed at 2.4 million. It's a little bit larger than my mom's, but the plot of land is probably a little smaller (big house, small yard vs. post WW2 development full of ranch houses with yards big enough for kids to run around and play in).
The town my mom's in isn't a food desert, but I can get an order of magnitude more variety of produce, substantially fresher (for most of year -- during the local late summer and harvest season she can get fresh, local, cheap produce).
And similarly, the town my mom still lives in isn't a dead economy, but there's no way i'm getting a tech job with an office within bicycling distance of her house, whereas from my current apartment i can bicycle to a few dozen local technology employers.
Also I'm currently willing to pay a premium for good weather.
The house I spent my teenaged years in was purchased for less than 100k and will still sell today for less than 100k. I think my mom would get her money back, and maybe some appreciation, but the sale price of that home will reflect the dwindling economy of the town and region it's in.
In contrast, the house for sale a quarter mile from my current apartment is listed at 2.4 million. It's a little bit larger than my mom's, but the plot of land is probably a little smaller (big house, small yard vs. post WW2 development full of ranch houses with yards big enough for kids to run around and play in).
The town my mom's in isn't a food desert, but I can get an order of magnitude more variety of produce, substantially fresher (for most of year -- during the local late summer and harvest season she can get fresh, local, cheap produce).
And similarly, the town my mom still lives in isn't a dead economy, but there's no way i'm getting a tech job with an office within bicycling distance of her house, whereas from my current apartment i can bicycle to a few dozen local technology employers.
Also I'm currently willing to pay a premium for good weather.