August Money Mag

Here are some notes that I made from the August issue of Money Magazine.

Scottsdale Az. was chosen as #7 in the annual best places to live survey. The ‘typical’ single family home in Scottsdale comes in at $500,000. They did not mention what the ‘typical’ household income is in Scottsdale. My guess would be ~$70-$80K/Yr. Can someone please explain to me how this is a great place to live when the ‘typical’ home price to household income ratio is around 6.25? Don’t get me wrong, I lived in Phoenix for a year and I like Scottsdale, it is very nice. But I think that the only people that can afford to be there are:

  1. People cashing out of LA/SF/SD and moving there.
  2. People that lived there 10 years ago.
  3. Dr. married to Lawyer households.
  4. Seriously overextended people buying on 5/1 or 3/1 ARMS.

Eden Prairie Mn. made the list at #10. I like Eden Prairie, I lived in Mn. for 2 years. But … the traffic is very, very bad in the SouthWest metro area. If you are able to live 2 blocks from work, or telecommute, then maybe it would be ok. But if you have to commute to another suburb to work, it is going to get old.

Money conducted a poll of 1000 people and asked two open ended questions, here are the results:

If you were moving, what would be the most important characteristic your new town should have?

  • 14% – Job Opportunities
  • 11% – Good Schools
  • 9% – Low Crime Rate
  • 8% – Good Arts and Leisure Scene
  • 6% – Nice Weather
  • 5% – Quality Health Care
  • 5% – Lack of Congestion

What do you dislike most about your current hometown?

  • 16% – Too Much Congestion
  • 9% – High Crime Rate
  • 7% – Lack of Job Opportunities
  • 7% – Poor Arts and Leisure Scene
  • 5% – High Taxes/Cost of Living
  • 4% – People Here Aren’t Like Me
  • 4% – Poor Munincipal Services

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