3 ms·
Even in the US, the equation varies by region. It also varies by the type and size of living space you want. Suburban homes with a pool and two garages are comp
by kijin 11y ago
Even in the US, the equation varies by region. It also varies by the type and size of living space you want. Suburban homes with a pool and two garages are completely different from urban condos.
But I was thinking more in terms of increased mobility -> better bargaining position -> better chance of finding a job that pays $12K more than your current job -> other things being equal, $1K extra disposable income per month.
- pjc50 11y ago$12k extra income does not mean $1k extra disposable income per month, because you have to pay tax on it. And then you have to account for increased rent in high-earning areas for the same amount of space. Someone I know recently told of moving in and out of London over a five-year period. They were very fortunate in being able to buy their house there, because the house price rise was greater than their total salary income over that period. They earned more by being a homeowner (ie leveraged property investor) than by working. And in the UK you don't have to pay capital gains tax on your primary residence.