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by cybernytrix 3191 days ago
When you talk about PPP, keep in mind to factor in housing and other modern lifestyle conveniences. These are very very expensive if you price it as a percentage of your salary. Even in the Bay Area, a Home is still 5-6X annual income of a typical software engineer. In India, it is more like 10-15X.
3 comments
nebula 3191 days ago
>Even in the Bay Area, a Home is still 5-6X annual income of a typical software engineer.

Is this true? I am ignorant of actual prices in Bay Area, but people are always complaining of high housing prices there.

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stevenwoo 3190 days ago
To give some idea of the market - people are starting to count stock options as future income in order to qualify for home purchases. The median home price that sold recently in San Jose is close to a million dollars.

http://www.mercurynews.com/2017/09/25/about-silicon-valleys-...

When I bought in 2001, every house on the peninsula (between San Francisco and San Jose) no matter what condition had at least a dozen offers and it's worse now. http://www.mercurynews.com/2017/04/13/sjm-shortage-0414/

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xyzzy_plugh 3190 days ago
Seems low, I'd put it at 8-10x. You're hard pressed to find a property for less than a million dollars.
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BeetleB 3190 days ago
Yup.

5-6X will not get you a nice house in a nice area. It will just get you a small house. In San Jose, the cheapest ones I'm seeing are in the 500-600K range - smaller than 1000 sq ft.

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majani 3190 days ago
as a counter to that, in third world countries, rent is often a way better deal all round, so if you're not hung up on home ownership, you can get by pretty well for less.
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snambi 3190 days ago
OTOH, rented houses are pretty bad, compared to owned houses in India.
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pm90 3190 days ago
This is most certainly not true. I don't deny there will be shitty houses for a drop-dead rents, but you can also get a fairly luxurious rentals in Mumbai and Bangalore, at least (I don't have personal experience with other cities).
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davesque 3191 days ago
Sure, but aren't basic necessities less expensive in India?
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scholia 3190 days ago
Do you know Numbeo?

https://www.numbeo.com/cost-of-living/compare_cities.jsp?cit...

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