What $1M Buys You in NYC vs. Denver vs. San Fran

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Jan. 10 (Bloomberg) -- Bloomberg's Olivia Sterns and Matt Miller look at the different costs of living in major U.S. cities in "On The Markets" on Bloomberg Television's "Lunch Money."

City to move to westchester, i could only find one better muck apartments for $1 million.

I started thinking that is -- one better and apartments for $1 million.

Most people who did not grow up in new york would think that is insane.

A lot of companies are doing the same thing.

Some countries already had headquarters in other cities.

Think of america has been in charlotte.

They resisted the urge to move.

Ken lewis, he was running bank of america, there was pressure to move to new york.

He resisted that, the executives at bank of america are all thankful he did.

Goldman sachs, one of their biggest current offices in the country, the biggest office in the country, salt lake city, utah.

If you ski, you would be happy, it costs a lot less to live out their.

One of the biggest trending cities to move to from the coast has been denver.

Looking at real estate prices, it makes sense.

What can you get for your money?

$1 million in new york versus denver.

Someone was looking through the new york times real estate page yesterday and said for $500,000, what can we get in new york.

They found a place in new york city, a two bedroom townhome for $500,000, i find that hard to believe.

Very hard to believe.

About $500,000 in san francisco is only going to get you a two-bedroom home.

In denver it gets you a five bedroom home with 5000 square feet.

That is unattainable for the average person in new york city or san francisco, is a huge difference and you save a lot of money.

It is a lot cheaper there.

People are moving in from the coast to flavor country.

-- fly over country.

Exurbanization is a word.

They are moving from the coast to the suburbs.

There is a bubble in real estate in san francisco.

The big, coastal cities are not losing popularity enough to lower real estate prices.

New york city and san francisco are always going to be popular.

Silicon valley is a popular place to live as facebook creates condominiums for employees.

Someone recently suggested silicon valley should be its own city.

Thank you for joining us, that is it for "on the markets." "bloomberg west" is up next.


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