this post was submitted on 16 Nov 2024
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Sadly Mass is also close to #1 in terms of cost of living.
I like it here but I don't like what it costs.
Oh no! #1 in cost of living and #1 in quality if life? And among the lowest poverty?
Do people really just need social support to thrive? No way! It's gotta be stuff! Cheap stuff! That's what life's all about!
What's the wealth inequality metric for them?
Not the worst but top 10 in inequality
Also with the high cost of living most of the poor move out so that would make it seem lower then if you look at the inequality to the neighboring states where people may move to or the u.s. as a whole. Probably harder to find but it would be interesting to see inequality among people born in Massachusetts, including those who left. Would be interesting to see if there system is actually creating successful people, or if they're just kicking out unsuccessful people and attracting already successful people from other states.
It's why I left 25 years ago, as much as I liked living there, I couldn't afford it. The house i grew up in is currently on the market for $2.5mil... my mom sold it for $400k in the 90s. All my high school friends have moved away, though some farther than others...
The data certainly deserves a deeper look. It may also be because we just have that much more well paid jobs than what people generally think of as wealth inequality.
I realize that looks inconsistent so let me explain. Most people think of wealth inequality as the different between the Bezos of the world and them. However in this case, I see their measuring by quintile but we have a ton of software and medical- maybe we just have bigger quintiles three and four. Still wealth inequality mathematically but very different from what people expect that means