30 years of net salary for a house in a small Czech town
30 years of net salary for a house in a small Czech town. We are completely broken.
I see people on this sub stressed about houses costing 6 or 7 times their annual income. I would give anything for those numbers.
I just did the math for my area and it is depressing.I live in a small Czech town of 14,000 people. It is not a major city. Here is the reality for a regular local trying to buy a new-construction house.
Starting price for a basic house: $500,000 to $574,000 USD (and that is for basic standards and a subpar plot of land)
Median annual net salary: \~$18,400 USDA single person must work 26 to 31 YEARS, spending 100% of their post-tax income, just to buy a basic house.
For Americans, this is the equivalent of making $60k a year, but a standard home in a random small town costs $1.6 Million.
Even a couple saving one full salary completely needs 13 to 15 years.Our housing market in the former Eastern Bloc skipped straight to Western prices, but our wages stayed local. Unless you inherit a house, you are completely priced out of life.
I feel totally defeated. Is anyone else in Central or Eastern Europe dealing with this?