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The problem is housing and costs that are rising as if everyone is making $300k in many places. It doesn’t keep up with costs at all. But if you live in an LCOL
by seanmcdirmid 2y ago
The problem is housing and costs that are rising as if everyone is making $300k in many places. It doesn’t keep up with costs at all. But if you live in an LCOL, it could be very respectable.
- BehindBlueEyes 2y agooh I see, thanks for clarifying. Comparable to e.g. downtown baristas who can't afford rent in the city they work in. Still mind boggling that even 70k is insufficient to afford housing. LCOL = low cost of living for anyone else who may need to look it up.
- seanmcdirmid 2y ago$70k isn't a lot of money when everyone else is making $200k. You would have this problem in any area where there is a lot money sloshing around, e.g. most cities in Switzerland. Unless you have some sort of rent control/social housing, or a lot of surplus market to satisfy a wide variety of demand, those people with money are going to simply outbid you.