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> The global average doesn't really mean anything except "somewhere in the US there is still affordable housing". Friend, that's not what average means. It me
by rsj_hn 5y ago
> The global average doesn't really mean anything except "somewhere in the US there is still affordable housing".
Friend, that's not what average means.
It means that more than half all houses cost less than X (because average => median). Not "somewhere in the there exists something less than X".
> "high-density places where housing would be needed."
Well you got half the country (actually much more - closer to 2/3, given that average >> median in housing).
This has been brought to you by your local RUMIA (Responsible Use of Math In Arguments) league.
Stay frosty out there, people.
- xg15 5y agoGood point. Still doesn't say where that half is - probably not in high-density urban areas. But it doesn't even have to mean that. It could also mean that certain undesirable neighborhoods cost far below the median, pulling the average down.
- rsj_hn 5y agoWell, we assume the bottom half of housing, or say, the bottom 60% of housing, would be in the bottom 60% of the nation in terms of desirability. But that doesn't mean it's undesirable or bad housing -- certainly it's not viewed as bad by all those people living there -- that's like 170 million people.
- salamandersauce 5y agoAverage doesn't necessarily mean that, often the mean is used and often that's not equal to the median. If housing prices are left skewed then the median is going to be greater than the average so more than 50% of people would be paying more than the mean.
- wave_function 5y agoI think the point was that it is true specifically when it comes to housing (also income and wealth for that matter)