this post was submitted on 31 Aug 2024
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So your average rent is still only 4% of your average income. You'd still have 48k left over after paying rent.
Different timescale; Average income is annual, and rent is monthly
That's confusing. Why not use the same time scale? And what country quotes rent monthly? We do weekly here. Monthly rent makes no sense because months are different lengths.
Where I live rent is usually described in fortnightly periods, despite being paid weekly. I'm pretty sure most of the rest of the west uses monthly, so I don't think it's particularly confusing to describe rent that way (at the very least, I wasn't confused?).