3 ms·
Anecdata. For the price of a big 4 - 3 bedroom house in an mid income zip code in a moderate to low cost of living city in the US, I could buy a smallish 2-3 be
by zubiaur 4y ago
Anecdata. For the price of a big 4 - 3 bedroom house in an mid income zip code in a moderate to low cost of living city in the US, I could buy a smallish 2-3 bedroom apartment in my country's capital city, in a similarly nice area.
And my starting salary in the US was 3 times what I made over there. And the interest rates are at least double from what we get here.
Something that would require effort and discipline in a dual income household over there is totally with reach over here (in the Midwest).
For others, with less market valued skills, owning a house in our countries of origin is even more out of reach, even aspirational.
Another thing to consider is that for many hispanics, who may have witnessed first hand the effects of inflation, owning property, heck, assets in general, is a way safer that saving on a currency that may be worthless in the future.
- pizza234 4y ago> For the price of a big 4 - 3 bedroom house in an mid income zip code in a moderate to low cost of living city in the US, I could buy a smallish 2-3 bedroom apartment in my country's capital city, in a similarly nice area. I think this has to do with the high costs of capital cities, rather than comparisons across countries. European capitals for example, especially dense ones, have typically been very expensive - see London, Paris, and recently Berlin; the spread with other major cities in the same country is in the range 2/2.5x, or even more.