Hello and welcome. You are listening to Patrick Boyle on Finance, a podcast exploring ideas from quantitative finance, examining events occurring in markets right now and financial history to see what lessons can be taken away, including interviews with some of the most interesting people in the world of finance. To learn more about the podcast, visit

onfinance.org. A friend of mine runs the How Money Works YouTube channel. Let's call

him the How Money Works guy or Dollar Question Mark. He's a retired tech investment banker in his 20s living in San

Francisco, but he's not originally from San Francisco and he doesn't really need to live

there anymore. We were speaking recently about where he should live as a YouTuber and

newsletter writer who can really work from wherever he wants to.

But it's not that easy a problem to solve.

So I decided to help him out and maybe help some of you who were thinking of moving

by making this video, analysing home prices around the world,

and adjusting them for income opportunities and various costs

you would incur as a homeowner and resident in the different locations.

Let's look at what you get for your money globally and try to find dollar question mark

a good place to live.

Now the population of California where where he currently lives, has been

falling since 2020. And a big reason for this is that California is expensive, both in terms

of real estate prices and state income taxes. As Californians have been moving, they've been

filling the internet with memes, comparing

the kind of house you can buy in Texas, where they all seem to be going, led by Joe Rogan,

versus what you would get in California for the same price.

And you get a lot of home for your money in Texas.

The menswear guy, one of the big accounts on Twitter, who also

lives in California, chimed in on this topic last week when looking at two $2.7 million

...