General Discussion
In reply to the discussion: Do Americans Know What a Massive Ripoff American Life Really Is? [View all]BobTheSubgenius
(11,563 posts)Better? Probably, especially if you are a low-income citizen. I wish I'd held onto the article that explained it in detail, and with supporting data; in short, you are better off here if you are poor, worse if you are rich.
I live in Victoria, which is a provincial capital, with concomitant civil service jobs, and a major tourist destination, which is soft industry, but inconvenient in tourist season. So...nowhere near depressed, but not dripping with high-salaried jobs, either. Its main attributes are a truly temperate climate, and incredible natural beauty. It does bring wealthy retirees here by the hundreds.
Real estate here is as expensive as any other comparable city - 1BR apts going for $1200-1800, depending on location and finishes, and the latest published average selling price of a single-family home is $1.22 million. These numbers roll trippingly off the tongues of many people, but consider 2 quick smacks of reality. In what world can a young couple POSSIBLY save a $200,000 downpayment....which would still leave them with a MILLION DOLLAR MORTGAGE???
A US gallon of gas is over $6, a 4L jug of milk is almost $5 and even fairly low-end cuts of beef are $7 a pound.
If you are lucky and/or clever enough to situated yourself well in life, you can get by on surprisingly little....IF you're willing to trade *THINGS* for time. I've always valued time far above "things," so a reduced-income retirement was a no-brainer for me.
Last year, my pensions totalled something over $25,000, which sounds nearly drastic, but my mortgage has been paid off since the mid-80s, I pay no income taxes, health care is free, and there is even a program that subsidizes my Rx needs to the tune of 70%. I drive very little, and my household energy costs are a little over $100 a month.
If you have a burning need to drive a Maserati, live in a 4500 square foot house with luxury finishes and vacation on the Cote d'Azur at least annually, my situation is an appalling idea. If you look at it through the prism of the late 60's - my truly formative years - I am living LARGE.
In short...in my experience and opinion, the author has some good points and is heading towards a decent interpretation of latter day reality, but generalizes and overstates...and, probably worst of all...over-simplifies.