Thursday, August 21, 2014

MONEY: No big bang for the buck in California

I guess this would be a big "duh!" and it surprises me that someone actually took the time to run the numbers.
Studies released this week of federal data show for the first time the real value of $100 in each state based on purchasing similar goods and services. And if you live in, say, Riverside County, the findings help explain the thinness in your wallet.

High-cost California landed near the bottom of the heap in consumer purchasing power, with residents able to buy $88.57 worth of goods for their $100, according to the Tax Foundation, a nonprofit research organization.

It gets worse.

Among metropolitan areas, Los Angeles-Long Beach-Orange County ranks among the highest-cost areas nationally at $84.60, with Riverside-San Bernardino-Ontario better off at $94.07. The Tax Foundation released its metropolitan area study Wednesday evening.

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