Bay Area = Expensive

This is a Google Earth Map of where I live. The 26-year old 1,100 sq. foot house across the street just sold for $622,000.

A new study on the cost of living in the Bay Area and the rest of California says that a family of four in Santa Clara County and the other nine greater Bay Area counties now needs an annual income of $77,069 - nearly quadruple the federal poverty threshold of $20,444 for a family that size - to afford housing and other basic needs.

So the first question is: what is the study using as the definition of "basic needs." In this study, it's five things

• Housing and utilities
  
• Food
  
• Child care
  
• Health care
  
• Transportation
  
• Miscellaneous (toilet paper, cleaning supplies, etc)

According to the California Budget Project report, "Making Ends Meet: How Much Does it Cost to Raise a Family in California?" about 40 percent of the families in Santa Clara County earned $75,000 or less in 2006, while 31 percent earned $60,000 or less, according to the U.S. Census Bureau.

The study assumes the following parameters as well. This dollar amount does not include:

• Saving money for retirement
  
• Cable or internet access costs
  
• Savings for college

Wow.