Hi from Europe fellas.
So, I tend to see soooo many Americans mention how they're making 60-70-80-100k dollars a year individually, which is absolutely insane to me. I'm in France and most of us make 25 000 – 40 000 euros a year (40k is already in the top 20% in terms of income in the country, I shit you not). In fact A LOT of people only make something like 20k a year. Many Frenchmen will probably be able to confirm what I'm talking about if some of them end up reading my post.
So ok, you guys earn super huge wages, fine, it's kinda what America is famous for in the first place: the money.
What I DON'T understand, is why your super high salaries don't allow you to buy more expensive houses than that?
For example: https://themortgagereports.com/70827/70k-per-year-salary-how-much-house-can-i-afford
Apparently if you make 70k a year, you can “only” afford a 300k dollars house/appartment. My question is: how come?
In France, if you make 40-45k euros a year, with a 20% downpayment, you can already buy a 300k euros house (yeah) with a 25 years long mortgage.
So why do you see so much more in America? Is it because of the higher interest rates? (We currently have a 2% interest rate in France, compared to 1% a year ago)