>I would be willing to live in an efficiency to save an extra 10k / year because a 1000 sq ft apartment is not inherently worth that much to me. I have a 1br apartment because the cost difference is tiny, and efficiency's are hard to find. Further, I flat out don't want a 2500 sq ft house, but for those people who want that much space sure it's a different cost / benefit comparison.
Sure, but then compare the cost with the same efficiency in the Midwest. When I lived there, you could get decent efficiencies for under $400/mo.
I am trying to do an neutral analysis not just favor one side.
Importantly, the gap between an efficiency in Midwest vs. SF is much less money than a 2500 sf house which favors SF. But, people would likely not get an efficiency in the Midwest on a 100k salary because the gap between an efficiency is also small. Or as a young friend of mine said, not being in WV is worth having a roommate in Northern Virginia.
Up-sizing lifestyle to compensate for downsizing culture seems very appealing when you have kids. Further, the closer you get to retirement the less important that years savings become. But, at that point you have already got a social circle in _ which biases as does even higher salaries you can get at 40+.
Still, I think based on behavior companies need to offer higher salaries outside of major metro areas before people stop concentrating in those areas. Yokyo Japan and many other major city's show the same trends suggesting it's not just US government policies responsible.
Sure, but then compare the cost with the same efficiency in the Midwest. When I lived there, you could get decent efficiencies for under $400/mo.