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Maybe it’s just my bubble, but I’m surrounded by lots of people in high-paying tech and biotech jobs. I think the bigger thing is cost of childcare — Norfolk was recently rated the second most expensive county IN THE COUNTRY for childcare. Hundreds of thousands for a normal family just to get coverage for their kids until they hit public K.
That’s on track for me. $2800 for one at infant rate, then $2000/month for preschooler.
COL is a 2 s-ded coin, other side: too many colleges = too many new grads = downward pressure on price.
Also OP if you know anything about Boston you’d know that Southie basically exploded in the last 10 years or so as “the” place to move as a recent college grad
If you look at the regional economics of core services (energy, housing, food, education/childcare, healthcare) the problem is supply. Suburban sprawl defines the entire “Boston” region. You can not get proper economies of scale with this level of imbalance.
Would strongly agree with the comments that supply is a bigger issue
I think the only real defense on the demand side is that, purely anecdotally, the "high powered" families and couples we know in Boston are much more likely to have one partner doing something in academia/social good than NYC/SF
I actually agree with this, the top .01% is driving significantly higher COL even for the top 2%, while not keeping salaries apace in the same way one would in Say NYC.
Interesting take. Boston is just as expensive (maybe even more). But internally, only SF and NYC are considered an A-Tier geography for pay.
Might be on to something here.