Also true regarding e.g. Japan, and easy to miss if one sticks to the tourist areas or hangs around exclusively with people who won the climb up the ladder. https://twitter.com/mattyglesias/status/1248794007112646656 …
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And does it matter? Home ownership is one facet of a person’s financial life. Having higher home ownership doesn’t prove much regarding overall per capita prosperity since it is largely dependent on customs, laws, and financial markets.
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You’re right, that’s probably an overly simplistic number to look at, and informed by Bay Area bubble bias. My larger point is that with reasonable housing, healthcare, and social services, the money goes a lot further - so a dollars-to-dollars comparison can be misleading.
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I suspect you have better sources there and I don’t have confidence to take that wager. I think the point about after-tax dollars going further with cheaper edu/healthcare still stands - not to the point that it outweighs the difference in income but relevant to the comparison.
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not only that, European houses tend to be smaller, especially anywhere near a big city.
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