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.
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.