I lived in the Bay Area for almost a decade until around 2005, the Presidio in San Francisco was my last address. I had a choice to stay - but I decided to go back to Germany. Wonderful city (for the most part), wonderful landscape, great climate, and I'll forever miss it - but different people have different priorities. I (still) don't really care where I live, but Europe (most of it) is hard to beat as an overall package deal. When you are young you don't care about much that you do care about in your forties or later.
About high incomes: What's the point of high income when you have to use it to buy things you otherwise get as part of the package anyway - or, more frequently, that no money can buy because the society as a whole has to provide it (includes the soft stuff like political climate and how much some arts of the population think they have to protect themselves from other parts)? I understand and accept when different people choose differently, but if there is only a single argument, a single data point "my income" then I see a lack of vision (almost literally).