7 ms·
Did you hear the story about the statistician who tried to walk across a pond that averaged 1m in depth and drowned? I agree with the author's general sentiment
by eigenrick 5y ago
Did you hear the story about the statistician who tried to walk across a pond that averaged 1m in depth and drowned?
I agree with the author's general sentiment. Things are expensive in America, but America is a big place.
There is a 12:1 difference in per-capita income between the highest and lowest income counties in the U.S.
There is a 8:1 difference in average rent by county in the U.S.
Energy costs, same thing. When I lived in NY, in an old house in Westchester, I am pretty sure we paid 800 to heat our house one month (the worst month in the 5 years we lived there)
Now in Eastern WA, for a similarly sized house, I don't think we've ever spent more than $100 in a month. Also, when living in NY, my income was higher, but our income:housing-cost ratio was 3:1, and our total cost of living just about broke even with Income.
Now in eastern WA, I make less money, but our income:housing-cost is about 8:1, and we're way ahead each month.
I guess my point is that the cost of living vs income is a major problem, but only for some. Predominately, those people live in or around the more expensive cities.
Sadly, those people are likely stuck in their high-rent, low-income situation, because they, as the author mentions, are going backwards every month. If they can't get ahead, they can't afford to move to somewhere with a better income:housing-cost ratio.