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Americans spend 40% of their income for housing. Nigerians 20 times more. There is something wrong with your statistics.
by slaw 3y ago
Americans spend 40% of their income for housing. Nigerians 20 times more. There is something wrong with your statistics.
- simonsarris 3y agoThat's not true. On average US households spend 30% or less of their income on housing according to both the census data and mortgage lenders. According to the census data, only 20% of US households spend 40% or more of their income on housing. That goes down to 13% for home owners. https://usafacts.org/data-projects/housing-costs https://usafacts.org/data-projects/housing-costs My stats (the property price index) are for property prices. It would be unsurprising if Nigerian home ownership rates are lower than US rates.