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If you want to look at US you should look at EU. Don't compare US to France, compare California to France and Montana to Romania.
by nikanj 5y ago
If you want to look at US you should look at EU. Don't compare US to France, compare California to France and Montana to Romania.
- endisneigh 5y agoEven if you do like for like the United States is much cheaper than Europe when comparing median income to median house price. Add in the highly subsidized mortgages and it’s a slam dunk in favor of the United States. The housing crisis is a meme basically centered around 15 locales in the states.
- nikanj 5y ago> The housing crisis is a meme basically centered around 15 locales in the states. Yes, because that's where the people are. The housing crisis heatmap is pretty much the US population heatmap ( https://xkcd.com/1138/ https://xkcd.com/1138/ ). Houses are cheap in the vast emptiness of the rural US. The EU doesn't really have similar unpopulated areas.
- endisneigh 5y agoOk, compare urban areas then. USA is still cheaper.
- bradlys 5y agoCompare places with equal density is likely a better way to go about it.
- endisneigh 5y agoOK, USA is cheaper still. Manhattan, density of 70K per square mile. Levallois-Perret, density of 67K per square mile. Manhattan, $1.5K/sqft median price L-P, $1,177/sqft median price Manhattan median household income - $118,161 L-P median household income - $59,758.46 It's not even close...
- bradlys 5y agoCompare those who actually buy though. Comparing raw incomes and real estate prices doesn't make any sense either. Again - a bad comparison. There are many parts of the world that have highly inflated real estate prices compared to average incomes but no one in the median income buys them at those prices. Places like Taiwan and Singapore are even worse by those measures but clearly people can live there... Do you think people in Manhattan on a $118k/yr income are buying real estate? (They're not)
- endisneigh 5y agoOk, use rent, it’s still more expensive. United states is cheaper compared to other countries no matter how you slice it. Why don’t you just accept facts lol. People in other countries have to spend more of their income for housing. Feel free to post data showing how affordable other countries are for their citizens
- naveen99 5y agoAre you taking into account property taxes ?
- lotsofpulp 5y agoMaybe eastern half of Montana compares to Romania.
- harambae 5y agoYeah Montana is actually wildly more expensive than Romania across the board. Some areas (like Big Sky) are on par with other luxury resort areas like Vail or Tahoe. But I see the posters point, the US is larger and more diverse than one European nation.
- endisneigh 5y agoIs it more expensive comparing median income to median house price? I doubt it, Romanians don’t make very much.