homes cost 5.4x what the average
person earns in one year
Wow, that sounds insanely cheap from a European perspecive.
In Germany, which is the richest country in Europe, the average working person earns €2000 (after taxes) per month, so €24000 per year. Times 5.4 that is €129600. You can only dream about buying a house for that price here. The price of a house is ten times that. Even if it is not in a big city.
In Germany, which is the richest country in Europe, the average working person earns €2000 (after taxes) per month, so €24000 per year. Times 5.4 that is €129600. You can only dream about buying a house for that price here. The price of a house is ten times that. Even if it is not in a big city.
Am I missing something?