4 ms·
What does ‘comparable’ mean? Is it about ratios between incomes and costs? Or cost of the same apartment in two places? Or something else?
by dan-robertson 1y ago
What does ‘comparable’ mean? Is it about ratios between incomes and costs? Or cost of the same apartment in two places? Or something else?
- markus_zhang 1y agoCost/income is a good ratio. The megacities (Shanghai, Shenzhen etc.) probably have a ratio similar to New York. Just from top of my head as I left Shanghai 10 years ago, a typical condo in Shanghai could cost over 5 million yuan (urban but definitely not core city), while a salary of 300k pre-tax is considered as a good salary. On the other side, housing is affordable for locals -- locals usually got very generous compensation from the demolition of their original home.
- chgs 1y agoMedian monthly cost in terms of median take home pay would be the sensible comparison. This would exclude ex-pats.