what does buying power mean? like, you're able to buy some house on your not 1% salary in your rural area, and a person on a 1% salary in nyc/sf could not buy an equivalently nice house?
Yeah... there's so many obvious counterpoints to everyone's knee-jerk "well you also upped your living costs!" reaction.
Number 1 is relevant for many many people: Any pre-existing loan. Student loans, car loans, etc. It won't change, and you'll have more money to pay it off.
On the same thought train, while cars sell for different prices in different places, they do not double or triple. Not even close.