But this data is about dollar amounts accumulated by population without spending power. All it’s showing is that HCOL population has more accumulated wealth. It doesn’t make sense. It’s not like people from the coasts are gathering cash and moving to the Midwest.
But this data is about dollar amounts accumulated by population without spending power. All it’s showing is that HCOL population has more accumulated wealth. It doesn’t make sense. It’s not like people from the coasts are gathering cash and moving to the Midwest.
They don’t need to, they have more purchasing power.
Living in a high COL area doesn’t just cancel our the higher income, because it takes marginally less work to buy any given product.