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Interesting comparison of incomes.
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jvalmer



Joined: 06 Jun 2003

PostPosted: Wed Oct 08, 2014 11:10 pm    Post subject: Reply with quote

bucheon bum wrote:
Of course many of us wouldn't want to live anywhere where a large house costs $200K....

I wish a large house would cost $200k. Where I'm from you can't even get a small apartment in the suburbs for that price.

Those are the prices for a nice 4-room apartment in the small-sized Korean city I'm working in now.
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duhweecher



Joined: 06 Nov 2013

PostPosted: Thu Oct 09, 2014 12:13 am    Post subject: Reply with quote

Honestly I don't understand economics...but if the median salary of the HOUSEHOLD...i'm assuming this accounts for married couples...if it's only 30,000 USD in the US that would mean that the wife and the husband together only makes around 2,500 USD per month. Isn't this a little low for the median (as opposed to the average)? If we consider the gap between the rich and poor in some countries does cross-country comparison really validate anything with these figures?

Honestly, I'm feeling blonde and just don't get it. Rolling Eyes
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jvalmer



Joined: 06 Jun 2003

PostPosted: Thu Oct 09, 2014 1:05 am    Post subject: Reply with quote

duhweecher wrote:
Honestly I don't understand economics...but if the median salary of the HOUSEHOLD...i'm assuming this accounts for married couples...if it's only 30,000 USD in the US that would mean that the wife and the husband together only makes around 2,500 USD per month. Isn't this a little low for the median (as opposed to the average)? If we consider the gap between the rich and poor in some countries does cross-country comparison really validate anything with these figures?

Honestly, I'm feeling blonde and just don't get it. Rolling Eyes

Correct me if I'm wrong anyone. But I believe median is the number where 50% is over, and 50% is under, that number. PPP is probably the better stat to look at, vs nominal, for how far that income is worth locally. And the standard of measure used is usually the US.

And yes, according to that stat, it's household. So combined theoretically 50% of households will make under $2500/month.
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bucheon bum



Joined: 16 Jan 2003

PostPosted: Thu Oct 09, 2014 7:31 am    Post subject: Reply with quote

basic69isokay wrote:
bucheon bum wrote:
basic69isokay wrote:
What you get for the cost is what really sets America apart.
A giant two story house with a yard for 200k (excluding sf,la,nyc,etc). A huge gallon jug of milk for 3$. 3.8l of gas for 4$. I mean, to most of the world, these are obscene quantities. In most parts of America, you get A LOT for your money. A Korean guy recently told me he couldn't believe how cheap beef was, so his family ate galbi jjim for every meal. Same goes for jewelry, clothes, shoes, almost everything. If You're "making it" in america, there's no better place.


Of course many of us wouldn't want to live anywhere where a large house costs $200K....

But yes, meat, processed foods, clothes, and electronics are cheap here. Many foreign visitors bring empty suitcases just to fill up with clothes and electronics to take back to their home country.

Some of that cheap food leaves a lot to be desired though. Produce, depends where in the States you are and what time of year. Kinda sucks here on the East Coast, but dirt cheap and generally good in California...

Why not?? That's like 95% of the country. The only places where 200k wont buy you something decent is like 5-7 big cities (boston, DC, NY,LA,SD,SEATTLE) Even then, you could just live on the outskirts. Point is, America's PPP is off the charts compared to Korea. No 6$ mangos or 300k dorm rooms.


95% of the country? Not when factoring in population. The LA and NYC metro areas alone are more than 5% of the population.

And no, 200K won't buy you jack even on the outskirts of DC, SF, and NYC. Unless by outskirts you mean a 90 minute drive with no traffic, and even then it is only in certain directions from those cities (for instance going north of DC, no way whatsoever until you're north of Baltimore).

So yes, 200K will buy you a nice house in most of the Midwest and South, but not so much on the coasts.
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Stain



Joined: 08 Jan 2014

PostPosted: Thu Oct 09, 2014 8:21 am    Post subject: Reply with quote

bucheon bum wrote:
basic69isokay wrote:
bucheon bum wrote:
basic69isokay wrote:
What you get for the cost is what really sets America apart.
A giant two story house with a yard for 200k (excluding sf,la,nyc,etc). A huge gallon jug of milk for 3$. 3.8l of gas for 4$. I mean, to most of the world, these are obscene quantities. In most parts of America, you get A LOT for your money. A Korean guy recently told me he couldn't believe how cheap beef was, so his family ate galbi jjim for every meal. Same goes for jewelry, clothes, shoes, almost everything. If You're "making it" in america, there's no better place.


Of course many of us wouldn't want to live anywhere where a large house costs $200K....

But yes, meat, processed foods, clothes, and electronics are cheap here. Many foreign visitors bring empty suitcases just to fill up with clothes and electronics to take back to their home country.

Some of that cheap food leaves a lot to be desired though. Produce, depends where in the States you are and what time of year. Kinda sucks here on the East Coast, but dirt cheap and generally good in California...

Why not?? That's like 95% of the country. The only places where 200k wont buy you something decent is like 5-7 big cities (boston, DC, NY,LA,SD,SEATTLE) Even then, you could just live on the outskirts. Point is, America's PPP is off the charts compared to Korea. No 6$ mangos or 300k dorm rooms.


95% of the country? Not when factoring in population. The LA and NYC metro areas alone are more than 5% of the population.

And no, 200K won't buy you jack even on the outskirts of DC, SF, and NYC. Unless by outskirts you mean a 90 minute drive with no traffic, and even then it is only in certain directions from those cities (for instance going north of DC, no way whatsoever until you're north of Baltimore).

So yes, 200K will buy you a nice house in most of the Midwest and South, but not so much on the coasts.


What's the problem here? As long as you can eat well, provide for your family, and have enough left to drink yourself into a stupor due to stress, I don't see any problem at all.
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atwood



Joined: 26 Dec 2009

PostPosted: Thu Oct 09, 2014 8:10 pm    Post subject: Reply with quote

duhweecher wrote:
Honestly I don't understand economics...but if the median salary of the HOUSEHOLD...i'm assuming this accounts for married couples...if it's only 30,000 USD in the US that would mean that the wife and the husband together only makes around 2,500 USD per month. Isn't this a little low for the median (as opposed to the average)? If we consider the gap between the rich and poor in some countries does cross-country comparison really validate anything with these figures?

Honestly, I'm feeling blonde and just don't get it. Rolling Eyes

Median is usually lower than the average, which is pulled up by the few at the very top.
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Weigookin74



Joined: 26 Oct 2009

PostPosted: Thu Oct 09, 2014 10:53 pm    Post subject: Reply with quote

Out in the maritimes you can get a house for 150 to 300 K, but the economy sucks and the wages are low. I've been to the midwest States and have seen similiar pricing with the housing and some of the taxes and fees were lower there too. But, their economy is better (or was before 2008).

If I lived Stateside, I'd wish to live in Montana or somewhere near the mountains living in a 200,000 house. But, I suspect, I'd have to make my money elsewhere. (I'd prob have to meet my women elsewhere too.)

In Canada, out west somewhere though prices are ridiculous.
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KimchiNinja



Joined: 01 May 2012
Location: Gangnam

PostPosted: Thu Oct 09, 2014 11:07 pm    Post subject: Reply with quote

atwood wrote:
duhweecher wrote:
Honestly I don't understand economics...but if the median salary of the HOUSEHOLD...i'm assuming this accounts for married couples...if it's only 30,000 USD in the US that would mean that the wife and the husband together only makes around 2,500 USD per month. Isn't this a little low for the median (as opposed to the average)? If we consider the gap between the rich and poor in some countries does cross-country comparison really validate anything with these figures?

Honestly, I'm feeling blonde and just don't get it. Rolling Eyes

Median is usually lower than the average, which is pulled up by the few at the very top.


For the first time in Dave's history Atwood succeeds at basic math. Shocked
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atwood



Joined: 26 Dec 2009

PostPosted: Fri Oct 10, 2014 12:53 am    Post subject: Reply with quote

KimchiNinja wrote:
atwood wrote:
duhweecher wrote:
Honestly I don't understand economics...but if the median salary of the HOUSEHOLD...i'm assuming this accounts for married couples...if it's only 30,000 USD in the US that would mean that the wife and the husband together only makes around 2,500 USD per month. Isn't this a little low for the median (as opposed to the average)? If we consider the gap between the rich and poor in some countries does cross-country comparison really validate anything with these figures?

Honestly, I'm feeling blonde and just don't get it. Rolling Eyes

Median is usually lower than the average, which is pulled up by the few at the very top.


For the first time in Dave's history Atwood succeeds at basic math. Shocked

This is getting a little uncomfortable, your following me around and everything. Unlike sr, I don't need a wing man.

But if you mail me a self-addressed stamped envelope, I will send you my autograph. You can even frame it if you like. Very Happy
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