Is 70k considered a starvation wage nowadays? I think I need to look up the definition because this seems far above minimum wage. Most people I know make under 40k per year and they aren't starving...
The problem is housing and costs that are rising as if everyone is making $300k in many places. It doesn’t keep up with costs at all. But if you live in an LCOL, it could be very respectable.
oh I see, thanks for clarifying. Comparable to e.g. downtown baristas who can't afford rent in the city they work in. Still mind boggling that even 70k is insufficient to afford housing.
LCOL = low cost of living for anyone else who may need to look it up.
$70k isn't a lot of money when everyone else is making $200k.
You would have this problem in any area where there is a lot money sloshing around, e.g. most cities in Switzerland. Unless you have some sort of rent control/social housing, or a lot of surplus market to satisfy a wide variety of demand, those people with money are going to simply outbid you.
