09-26-2018, 02:09 PM
(This post was last modified: 09-26-2018, 02:11 PM by kidgibnick.)
Seriously? You are saying that middle-class people can't live in Zurich or Copenhagen? You can easily rent a one-bedroom apartment (with good transit connections) in Copenhagen for less than C$1500. Zurich will be somewhat more expensive, but all of the above are far less expensive than London or New York, let along San Francisco.
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I did not say middle-class people can't live there, you misinterpreted. Apologies for poor wording. Clearly, people from all income brackets live in these cities, but the ratio of high-income earners and living costs plays into the equation. A challenge might be that low and middle income earners sometimes experience friction with living-costs in these very expensive cities. One example is because those costs are higher than the adjustment of their income from city-to-city (a hair dresser's wage in Munich is regulated differently or at a different rate on average than in Berlin). For example, lower income earners may find it more difficult to dine-out in places like Munich...because in contrast to a city like Berlin, the city-to-city cost of living wage-adjustment in Munich may not be high-enough to off-set those even higher costs of living. My point was to say it could be a contributing factor why there is often faster growth (especially amongst millennials and lower/mid-income earners) in sub top-5 cities (Dublin, Helsinki, Berlin, Dresden, Leipzig, Budapest, etc.). For a bigger Canadian city, it could partly explain Calgary's growth (and KW's for that matter) -good-value for-money combined with all other factors, in contrast to Toronto and Vancouver, which are generally ranked higher.
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I did not say middle-class people can't live there, you misinterpreted. Apologies for poor wording. Clearly, people from all income brackets live in these cities, but the ratio of high-income earners and living costs plays into the equation. A challenge might be that low and middle income earners sometimes experience friction with living-costs in these very expensive cities. One example is because those costs are higher than the adjustment of their income from city-to-city (a hair dresser's wage in Munich is regulated differently or at a different rate on average than in Berlin). For example, lower income earners may find it more difficult to dine-out in places like Munich...because in contrast to a city like Berlin, the city-to-city cost of living wage-adjustment in Munich may not be high-enough to off-set those even higher costs of living. My point was to say it could be a contributing factor why there is often faster growth (especially amongst millennials and lower/mid-income earners) in sub top-5 cities (Dublin, Helsinki, Berlin, Dresden, Leipzig, Budapest, etc.). For a bigger Canadian city, it could partly explain Calgary's growth (and KW's for that matter) -good-value for-money combined with all other factors, in contrast to Toronto and Vancouver, which are generally ranked higher.