alt Hacker NewsTrue although prices are also not what you'd consider average in a developed country. Purchasing power parity is important too.
True although prices are also not what you'd consider average in a developed country. Purchasing power parity is important too.
They're not low enough to offset the low wages, though. [0] puts $2/hr at around $15k/yr purchasing power in Chicago which sounds about right.
People live with families in multi-generational homes until they're married, sometimes after. Retirement plans are your kids looking after you.
Prices also aren't lowered across the board - it's mostly housing and anything where labor is a major part of the cost. Cars are similar prices. Groceries, utilities and tech also.
0: https://www.paritydeals.com/ppp-calculator/