Want To be Rich? Pick The Right Zip Code

[jeffrey]

An article at msn.com argues that is isn't how much you save that will determine how rich you become, but where you decide to buy your house.

According to the article:




The biggest influence on our financial health isn't how much we save. Nor is it the funds we choose in our 401(k) plans. It is our ZIP code -- where we buy and own a house. Pick the right area, and your future is golden. Pick the wrong area, and you'll always be behind the folks who happened to buy in the right place. As you will soon see, no matter where you live, it is likely to be more important than your 401(k) plan...

One odd side effect is that people in some parts of the country are becoming much richer than people in other parts of the country not because of the work they do, the income they earn or the investments they make -- but because of where they live...

[baselle]

Gotta be careful about those correlations and about real estate in general right now. All wealth-generating bets are off in the real estate market unless you have a standard mortgage, have not re-financed for trivial reasons, and still live below your means.

[Fern]

Jeffrey, how about sharing that msn article with us?

[Fern]

never mind, found it.

[Bluezy]

I've often wondered what it is about San Francisco that makes the real estate prices the highest in the US? It's a stunning city, but USD $650,000 for a low end priced home? Yikes!