4 ms·

If your net pay is $7000 per month you absolutely can afford to own a house, you're just being fussy about the house you want.

qurren 3mo ago
You're not going to save up for a $1-2M house very fast on $7000/month, when you also have to live off that $7K, pay rent, pay medical bills, and save up for retirement expenses.
burner420042 3mo ago
Does the website reference net or gross monthly income? Edit: So the numbers are not a direct exchange rate to USD. Q: How were dollar values assigned to households? A: The households’ door numbers represent the consumption values (US dollars) that each adult in the household has per month. This figure comes from a combination of the household’s self-reported consumption and income levels. We then checked the official cost of living data in each country to adjust the values for purchasing power parity (PPP) and converted the value into US dollars. Read more about how we assigned the Dollar Street values here.
drivebyhooting 3mo ago
If you’re gonna have kids, fussy means: * have decent schools * not covered in lead or asbestos * not next to a highway
- qurren 3mo ago
  + * in an area not going to get shot or mugged * structurally earthquake safe so that we don't die
jt2190 3mo ago
The housing market is highly dependent on the job market so no, it’s not “being fussy”, it’s “I need to live here so I can have a job and income”. Unless you’re suggesting that people should quit their jobs and go get that cheap house in the middle of nowhere?
- onraglanroad 3mo ago
  What does the person who fixes your toilet do? Or prepares your meal? Or basically lives the Fight Club life?
  - qurren 3mo ago
    If they didn't tax everyone so damn much, it would work out. They fix the toilet for $200, I need to earn $400 to have that $200, and the toilet repair person gets to keep $100 after their taxes. $400->$100 in one go. Government keeps $300. Make that make sense.
  - aianus 3mo ago
    Depressingly, they bought a house in 1995 before the prices exploded. You need a 94th percentile income in Toronto to barely qualify for the average house.
jltsiren 3mo ago
Its more about where you want to live. I'm not familiar with the situation in San Francisco. But in Santa Cruz, the cost to own with a 20% down payment is ~50% higher than the rent for the same unit. If you can't afford a substantially higher down payment, you're not really in the market for a home. With $7k/month after tax, you would probably be renting an 1br, or maybe a cheap 2br. But your income is not high enough to buy anything, unless you start looking for homes well outside the town.

qurren 3mo ago

You're not going to save up for a $1-2M house very fast on $7000/month, when you also have to live off that $7K, pay rent, pay medical bills, and save up for retirement expenses.

burner420042 3mo ago

Does the website reference net or gross monthly income? Edit: So the numbers are not a direct exchange rate to USD. Q: How were dollar values assigned to households? A: The households’ door numbers represent the consumption values (US dollars) that each adult in the household has per month. This figure comes from a combination of the household’s self-reported consumption and income levels. We then checked the official cost of living data in each country to adjust the values for purchasing power parity (PPP) and converted the value into US dollars. Read more about how we assigned the Dollar Street values here.

drivebyhooting 3mo ago

If you’re gonna have kids, fussy means: * have decent schools * not covered in lead or asbestos * not next to a highway

qurren 3mo ago
+ * in an area not going to get shot or mugged * structurally earthquake safe so that we don't die

jt2190 3mo ago

The housing market is highly dependent on the job market so no, it’s not “being fussy”, it’s “I need to live here so I can have a job and income”. Unless you’re suggesting that people should quit their jobs and go get that cheap house in the middle of nowhere?

onraglanroad 3mo ago
What does the person who fixes your toilet do? Or prepares your meal? Or basically lives the Fight Club life?
- qurren 3mo ago
  If they didn't tax everyone so damn much, it would work out. They fix the toilet for $200, I need to earn $400 to have that $200, and the toilet repair person gets to keep $100 after their taxes. $400->$100 in one go. Government keeps $300. Make that make sense.
- aianus 3mo ago
  Depressingly, they bought a house in 1995 before the prices exploded. You need a 94th percentile income in Toronto to barely qualify for the average house.

jltsiren 3mo ago

Its more about where you want to live. I'm not familiar with the situation in San Francisco. But in Santa Cruz, the cost to own with a 20% down payment is ~50% higher than the rent for the same unit. If you can't afford a substantially higher down payment, you're not really in the market for a home. With $7k/month after tax, you would probably be renting an 1br, or maybe a cheap 2br. But your income is not high enough to buy anything, unless you start looking for homes well outside the town.