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It’s not a joke because they mentioned major metros whereas you’re looking at averages. Both can be true at once. The problem is that the amount is not relativ
by dagmx 4y ago
It’s not a joke because they mentioned major metros whereas you’re looking at averages. Both can be true at once.
The problem is that the amount is not relative to CoL but a flat amount.
- barry-cotter 4y ago> It’s not a joke because they mentioned major metros whereas you’re looking at averages. Not all major metros make building housing illegal. San Francisco and New York are not the only major metros in the US. You can build in Seattle and Houston at least.
- dagmx 4y agothat’s a complete non-sequitur. Seattle has a much higher median cost of living than your comment. Also the entire Bay Area has high cost of living, even when you can build in other areas other than SF.
- AlchemistCamp 4y agoEven just looking at the mean personal income in metropolitan areas, it's not much higher than that–it was 56k in 2019 and is now 64k, according to the BEA Metropolitan Area table: https://www.bea.gov/data/income-saving/personal-income-county-metro-and-other-areas https://www.bea.gov/data/income-saving/personal-income-count... It doesn't include mean data but the mean personal income in cities may very well be below the 55k/year cutoff.
- dagmx 4y agoSure or it may be much higher depending on the specific metro. This is why you can’t take nationwide averages because the USA is a giant country , and the cutoff might be fine for one region but not another.