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0 sats \ 9 replies \ @Undisciplined 28 Mar \ on: City vs Country AskSN
Revealed preference says "Yes".
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All of the market actors who bought, sold, and developed the current set of real estate options.
It's really not the right comparison. I was just being cheeky. You have to take the costs of the entire lifestyle bundles in both places. It's not important what the relative costs of individual components are.
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Imagine I compared how long it takes to get to a great restaurant. Let's say it's a two minute walk in the city vs a two hour drive in the country. Would it make sense to ask if the country is 60x better?
You have to include everything that impacts quality of life (way too many things to list). The easiest proxy would be total cost of living as a fraction of attainable salary (or something like that). I doubt you could get to 10x with that comparison, but maybe 5x is realistic.
Do people find city living to be 5x better than country? Apparently they do, since most people make that choice (revealed preference).
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In your restaurant example, it would make sense to ask that question but I think you meant to say “are cities 60x better?”
it’s not true for all rural properties, but you can find many small towns where food/energy/travel times/hospital/schools/internet are similar
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It’s the same as your question. This one factor is way cheaper in the city, so the question is whether the country is enough better to justify the cost difference.