2 ms·
Comparing the median wealth between the whole US versus just the richest EU countries is not that great TBH when you consider the US has the same rich states vs
by Rinzler89 2y ago
Comparing the median wealth between the whole US versus just the richest EU countries is not that great TBH when you consider the US has the same rich states vs poor states discrepancies that the EU has internally which drags medians down.
You can either compare the whole US vs EU medians which contain the wealthy states and the poor states of both, or if you only want to compare the richest European states like Belgium, Denmark, Norway, etc then you can also only use the richest US states for comparison like California, Texas, New York, Washington, etc and then you'll find those in the US being far richer than the richest EU countries.
Average Germans don't have much wealth since a lot of the population rents instead of owning their own homes so a lot of their wage growth just gets captured by the landlord class. You'll own nothing and be happy.
- yodsanklai 2y ago> Average Germans don't have much wealth since a lot of the population rents instead of owning their own homes so a lot of their wage growth just gets captured by the landlord class. If the landlords are Germans themselves, it should move the median (more inequalities), but it doesn't explain low average.
- Rinzler89 2y agoA lot of rentals in Germany are owned by real estate corporations or banks, so their rents just fuels their profits and share price instead of incomes of other Germans. SaaS (Shelter as a Service)