3 ms·
Housing is expensive in our prestige cities, but that's true in much of the world.
by rcpt 2mo ago
Housing is expensive in our prestige cities, but that's true in much of the world.
- edoceo 2mo agoAnd if you are away from the city, where the rent is less, the incmme is also less. The income:expense ratio is still steep.
- rcpt 2mo agoThat's not really true. Rent to income ratio varies quite a lot
- edoceo 2mo agoCan you tell me where? Data from US gov since 2000 show this (BLS, SSA), as do multiple university studies (MN, KY). And the ratio for rural areas is getting worse, more pressure, than urban. That it varies is not interesting, lots of things have variance. The data shows its generally true.
- rcpt 2mo agoI think you are mixing up a couple of things. Income to rent ratio, which is what this thread is about, varies geographically. Rent eats 30-40% of income in prestige cities like NYC or SF or LA. It's only 25% in Kansas City or Columbus. You seem to be thinking about overall cost burden over time.