We bought a modest 550 house in Rancho Bernardo (yes, very stupid…no lectures needed :)). The difference was based on salary – the san diego salary was 45% higher than the Texas offer and we weren’t comparing simular homes. We lowered our housing standards for San Diego when comparing homes to Texas and North Carolina. With that spreedsheet we compared a 275K Texas house with the 550K San Diego house with no mello roos. There were a lot more variables than just mortgage to mortgage, I’d have to look back at his spreadsheet…