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> percentage of income spent on housing is not a great metric. A better metric is absolute income minus housing costs. / All else being equal, I would gladly ea
by forapurpose 8y ago
> percentage of income spent on housing is not a great metric. A better metric is absolute income minus housing costs. / All else being equal, I would gladly earn $1 million per year and spend 75% of it on rent, because that remaining 25% would be a heck of a lot of money.
It makes sense, but that doesn't make it true. Is your argument based on your personal beliefs, or is it based on actual outcomes in the economy?
As someone once pointed out, if 'makes sense' was a reliable indicator of the truth, we would have had accurate physics in 5,000 BC.
- PhasmaFelis 8y ago> It makes sense, but that doesn't make it true. Is your argument based on your personal beliefs, or is it based on actual outcomes in the economy? Seems to me it's based on basic arithmetic. Are you arguing that $250,000/year isn't a very comfortable take-home wage?
- forapurpose 8y agoI'm saying that the currency of fact is evidence, not speculation and analysis. It's an interesting theory, but we need evidence to know whether or not it's true. That's what science and reason are about.