> Plenty of folks take pay cuts to work remotely
Pay cuts are not important; profit is! If I get paid 100 less, and spend 90 less because of no commuting, I'm gaining more than before.
Pay cuts are not important; profit is! If I get paid 100 less, and spend 90 less because of no commuting, I'm gaining more than before.
I make less working remotely in a LCOL area than I would in the HCOL area where my office resides. The differential in COL, though, is so high that I'm saving a lot more. In other words, I'm making less but I'm building more wealth.
Most of the money that goes into living in a HCOL area and commuting to office is just pure waste to satisfy the egos of upper managers who want to preside over a big floor of workers.
If every part of the US became equally expensive and convenient for work, VHCOL areas like the Bay Area would still be immediately oversubscribed for reasons unrelated to work.
The Bay Area has arguably the best climate (cool Mediterranean) of any major city, unique proximity to a diverse set of outdoor recreation (Big Sur, Napa, Yosemite, Tahoe just to name a few), and all the desirable amenities of a major metro area.
That’s not to say you can’t have a perfectly happy life in other areas if you have different preferences, but the cost of living is ultimately a market, driven by the aggregate preferences of all people.
I think you are right.