Survey: San Jose/San Francisco homeowner unhappy ; Birmingham homeowner is happy

[Carlos Ptriawan]

So there's this survey saying that Seattle/SF/San Jose homeowners are unhappy ; while Detroit/Birmingham homeowner mostly are happier homeowners. 
Since I invested in both markets I think I agree with all these sentiments. If I'm just average Joe with typical work I would be very happy to move to Birmingham and live nicely in there.

I think what makes homeowner happy is the relative intrinsic value of their house. In place like Birmingham, the intrinsic value of the house is more expensive than the land. In San Jose/SF , homeowner is actually buying expensive land only but not necessarily buying an expensive house while price is 8 times bigger in San Francisco for the same house. 

What do you think why Seattle homeowner is happy and someone in Birmingham is happy ? lol

maybe in next decade the happiest homeowner lives in Gary Indiana.