Quote from Vinny1:
I agree that NYC offers more entertainment than Atlanta, and most likely more than any other city in the U.S. for that matter. But it all comes at a huge price of course. What I'm trying to say is that in the Atlanta area, housing is so much more affordable than the NYC area. Down here, almost anyone can afford to live a great lifestyle without paying $1 million for a 60's split level home. You can live well down here on $40k/year. There are people down here doing really well also. There are tons of gated country club communities, plus Buckhead, a section of Atlanta, has $10 million + homes.
This area makes it alot easier for the lower to upper middle class folks to live a great lifestyle. Even though, the NYC area has people making $500k/year, there are still plenty of people that are living in cockroach infested apartments, sharing apartments with strangers, living in cramped tiny apartments, or living with their parents. I have some friends in both NJ and NY that either live with their parents or live in tiny apartments because homes are too expensive. Not everyone can afford to pay a $4,000 mortgage each month. So basically, if you're not making at least $200k/year, it's not worth being there.
That is where the jobs are. Plus, people like to play the keep up with the Jones' game. Not sure I agree. Then again, The south gets to hot. NY/NJ only gets really hot two months out of the year usually. For 3200.00 I get 1600 sq feet. Its enough for me, and I live modestly well I think. If I was across the river, at Trump, or something of that magnitude, it would probably be double. I guess it is the idea of living on Manhattan Island for some people.