Comment by charcircuit
4 days ago
Rent should not be more than 1/3 of your income so moving to an appropriate place will let that person save an extra 2k a month. It would take a year instead of a decade to have invested 24k.
4 days ago
Rent should not be more than 1/3 of your income so moving to an appropriate place will let that person save an extra 2k a month. It would take a year instead of a decade to have invested 24k.
> moving to an appropriate place
like under a bridge or something? Pardon the hyperbole, but you would have to assume people with no disposable income are idiots in order to suggest that solution.
Or at their parent's house or going to find roommates. If you can't afford to move out by yourself than you shouldn't do it if you want to be financially responsible.
You look like the same kind of person who will complain that people won't have children nowadays.
Maybe not idiots, but many humans are definitely not homo economicus rational actors.
Rent should not be more than 1/3 of your income but to get an income you usually need to be in a place where rents are more than 1/3 of such income.
The lower COL areas are lower because they're less economically viable, and therefore less desirable. The job opportunities and income will, more or less, match the lower COL.
Theres some exceptions, like rural doctors can make more more than city doctors due to high demand. But the less "physical" your job is, the rarer these exceptions become.
For software devs, you can move out of silicon valley. Maybe to Texas. And now those 1.5 million dollar homes are only 700,000 dollars. But your salary will reflect that.