This video is only about 'buy apartment price'. When it comes to rent, it's another story. I should have mentioned about this sorry about that. I'll talk about a special rent system that ONLY exists in Korea in the future video. Thanks everyone❤
I find your videos interesting, but perhaps you made a mistake here. Perhaps you meant 100 square meters, not one square meter. I would like to see a video about the typical breakdown of expenses vs wages. How much spending (%) for food, housing, transportation, etc. I've been studying slavery for many years and often it is due to forced labor oversupply (keeping people where they don't want to be) or restrictions on access to productive resources (submission to slavery or starvation as an alternative). You seem to indicate a little of both in your videos. Do they same people who control access to jobs also control access to housing? Or is this something you would know?
May i suggest you do a video about your background? Your English is excellent BTW. How did you become so fluent, what is your educational background, what do you do for a living etc.
Thank you for the video. Very informative. The temperature here in Pennsylvania USA where I live hit 100 degrees today. So hot! And, I pay $ 1200 a month for a small one bedroom apartment. It is ridiculous.
I have lived in Seoul and New York and honestly thought Seoul wasn't too bad. Yes, you get a smaller apartments but prices were much reasonable. I was getting paid 50 million won a year and that was better than NY salary of 100k I was getting.
Wow. Your videos are almost identical to the 50 year old Japanese middle aged man with the channel “askjapan”. You even have the same white board and talk very similar to him. 😂😂😂
Hi. Could you plz tell about inheritance tax in Korean. I was really surprised you need to pay 50% if your house costs more than 3 mln and 20% if house costs from 500 to 1 mln. Does it mean that almost no one have those expensive housing or why people do not protest agains the law. I feel so bad that you have to pay again for what already was paid previously. Have a good day and greetings from Ukraine.
Thank God. I live outside of Seoul and are able to work remotely. Seoul is a very stressful and hectic place to live and I would never live there unless I had to. Even going there for appointments is really stressful.
I’m in Fort Lauderdale, Florida (30 mins from Miami) and I pay $1425 for a very very small 1 bedroom in a bad neighborhood. A nice 1 bedroom in a decent neighborhood costs $1800-$2200.
The average salary in UK is supposedly £36,000, even in London. Some people earn a lot less. There is a huge housing crisis and people cannot afford to buy their own homes as they need to pay a deposit which is around 10% of the property price. They also have to pay a tax called stamp duty, the amount of which depends on the property price e.g. 1%, 3%, 5%. Rents are also high so people are moving back to live with their parents 😢
37.7% of people living in London are foreign born. While a fair few rich paying their own way, many are being subsidized. Yet people not foreign born wanting to move there from outside London or a market town in England and ask for social housing allocated to them can’t cause they have no connection to the place. London council is now exporting people to Durham with 24 hour notice take it or leave it. The councils are running out of money and dumping people elsewhere. Rents less elsewhere and if the family becomes homeless when the owner wants the property back they are then that other councils problem. Now Labour is running the entire country not just the larger cities. They just need to build more and renovate more and put businesses in other areas of the country. It’s not hard. But the same think will happen to England that is happening to South Korea. Soon Birmingham and Manchester and Liverpool won’t be desired. It will all be about London. Like in Korea where it is all about Seoul.
The yearly income in Korea is low 😮 I thought it was higher. Seen too many K-Dramas with people living in nice flats always wearing high end fashion brands.. I think there is something going wrong when all the jobs and business opportunities are way to concentrated to one area. There is no quality in life if you have a job but you cannot afford a decent roof over your head or you have no money left to spend on food and nice activities. Whenever I think, I have to go and experience the big city life, I will visit Berlin, Paris, London, Tokyo or any other big city of interest for a week or two and afterwards I am happy to be at home again. No way I would want to live there, too many people and some craziness going on.
Apartments in the USA are rent only. Now there are condos, which can look like an apartment or a townhouse and those you can purchase. Some people purchase condominiums, and turn around to rent it out .
Interesting information, i would need to research much more as not everything is quite so simple as comparing salary to apartments. In the US for example they get 2x the salary but the price of an apartment is 2x as well….but we neglect that the US has a much lower rate of taxation, and also no deductions for health care while some positions include health policies. You can also eat for a fraction of the cost in the US, low taxes really do equate to an unbalanced viewpoint. A better comparison might be after tax income rather than full income, no matter the matrix it can be difficult to compare. We can agree living in major cities is getting more expensive, land locked and no room to build. Cheers.
Yea but in the really end you still can find a roof for $300 rent in korea which is impossible in the USA. Minimum $800-$1000 here and the place will be hella ghetto..
I promise you that MOST people in NYC do not make 100k. They probably make 30k-50k and they live with roommates or family. I know people in their 30s that have roommates.
New York City has inflated housing costs. You can buy a 2000 square foot house on a 1/4 acre in Texas for the same price as a 600 sq ft apartment in NYC. Location is everything in the US.
I don’t understand why people don’t get married based on housing costs… if you get married you have someone to split that cost with, so it’s beneficial to get married.
Expensive? Tell that to someone in Vancouver or Toronto! No detached house under 1.5 mil CAD. 1 bedroom condo in a decent area 1mil. CAD. 1 bedroom rental apt. $2000/month + electricity, parking ($100/month), home insurance etc. Salaries are about the same as in Seoul. You're not alone, man!
I wish all countries would put marriage Before having children. I live in Nebraska - - middle of the United States - 113 yesterday ! The actual temperature was 98 I think - but with the humidity, they said it felt like 113! And housing prices in the United States are astronomical ! Just last year, where I live you could find a decent apartment for maybe about eight or $900 - - one bedroom even a two bedroom. Now the same apartments are going for 1400 or up ! I feel so bad for the children that are just graduating high school -looking forward to their whole life-and how are they going to be able to afford these apartments? Seems like it’s a worldwide problem. Keep the videos coming -great job !
Hang on a minute, marriage doesn’t exist in all countries! And- marriage started out as a Christian construct. So, you wish Christians get married before starting a family - yes?
Housing is Expensive every You Go!! Theirs just No Way Around It!! As far as Relationships/Marriages are Concern!! Let me just say this ROMANCE WITHOUT FINANCE IS IGNORANCE!! Case Closed😮😮😮
I am born and raised in New York , still live here. The average income is not 100,000 a year that is only for certain jobs. And even then they cant afford to buy an apartment. You have to pay taxes, healthcare, life insurance. Grocery is expensive and transportain unlike in korea you pay the same for whereever you are gong on bus or train on public transportation. If you own a car you will have to pay for parking and gas is very expensive. So 100,000 doesn't get you much in New York. Also that average you have may have come from a census, that adds everyone living in the house hold.
I was just going to say that though there are many people who I’m sure make 100k. It certainly isn’t the average.As a New Yorker living in Seoul. This is maybe the average per household not per person. And even as someone who was making almost 90k. After rent, car, groceries, utilities, phone bill, pet expense, insurance, 401k, TAXES, etc.I was barely seeing that money.
Well, it's not very clear because you went by percentage. Many New Yorkers rent instead of buy due to property taxes and maintenance costs being so expensive in addition to the mortgage. To rent, your annual income should be 40 times the monthly rent. If you don't meet that, you have to get a guarantor who makes 80 times the monthly rent. My son was lucky he qualified for his one bedroom apartments. The one he stays in right now is rent stabilized, has a good city view and a large balcony/terrace. The atmosphere also makes it conducive to the educational videos he produces. He works very hard, travels a lot for work, does shows, photoshoots, etc. So when you mentioned $100,000/year, if you divide that by 40, that would be the monthly rent you qualify for (they also check other things like your credit rating, savings, etc.). My son fell a little short of the 40x the monthly rent for his first one bedroom (before that, he lived in an Airbnb partition of an apartment for two months, with roommates for three), but the landlord approved him for the apartment. After a couple of years, he moved to his current one. He was a homeowner at 21, then sold his home after 5 years to move to NYC. So I guess we would also have to factor in whether or not one can live by oneself with that rent, since many New Yorkers live with roommates due to housing being so expensive. I don't know how it is in Korea.
@@jennshaw6339no. I meant 40 times. Your gross annual salary should be 40 times the monthly rent. That's why if you don't meet that, you need a guarantor that makes 80 times the monthly rent. There are guarantor companies. That's what renting in NYC is like.
Most people are renting an apartment in those other cities. And many are spending more than 30% on housing renting or owning. And that is two people’s income. People have roomates. And when they have a family they move to another area outside the city in many cases in the U.S.. Comparison is the thief of joy. Why not move to New Sejong City or Busan or Daegu? Does Korea not have internet and the ability to work remotely? I’m being sarcastic. People outside Seoul need to be close to Seoul. People closer to Seoul need to be inside Seoul. People inside Seoul need to be in Gangnam. Why? It is so bizarre. Why the lack of contentment? Envy is a deadly sin. I do not understand why Korea is doing what it’s doing to itself. For about 20 years I have been watching Korean movies and tv shows and also reading and watching Korean news in English language like Korea Today, Arirang, etc… The news and news programs have been very helpful understanding culture of what I’m watching. If I were reborn in Korea I would not want to live in Seoul. I would like to never meet a conglomerate family person or work for one or go to elementary, middle or high school with a family member of one. Surely 99% or %96 are not unhappy there? Why are people buying that? There is no one having to pay for school for minor kids, there are usually doctors (aside from the strike) and medication is feet away for everyone, there is rice and food imported and accessible no matter the season, everyone has dozens of shoes. Even a 2 bed unit has three doors floor to ceiling for shoes. It is not 1955 or 1965 when people didn’t have shoes and not everyone could go to middle or high school cause of lack of funds. Why the poor mentality? They turn bedrooms into closets full of designer bags and a clothing sterilizer machine appliance and say kids are too expensive. You don’t have money to marry. Really? I think the problem is no family time growing up and no one adult age having any idea what family is. Everyone was alone or working or at hagwon or mandatory study. With college and military service when people do marry their first kid comes or does not come at 33. You can’t just start having babies at 33 and expect to be successfully having 1-2 kids. Fertility declines at these ages. The problem is everyone was competing so no one knows how to interact with each other. How does a person date? It was every man for himself for over a decade growing up.
Do you think your country will increase immigration to your country in order to deal with low birth rate? I believe that is one reason here in the United States we have such uncontrolled immigration. It's not working though, it's really harming our country. I heard Japan is immigrating people from India in order to deal with low birth rate. I just wish our countries would support families. If they could support a work life balance and make the economy more affordable, and encourage families with good schools and support, we would be okay.
Yes it's crazy !!! But how the price maintain same if nobody can buy it?? Normally go low after... I thinks with decrese population it's doesn't worth invest appart in seoul for sure 😇
Real estate in seoul or other desirable cities will always be expensive, even if most people can't afford to buy, simply because well... there is still a lot of demand from people who actually can afford it lol, there are around 3.8 Million housing units in seoul for 9.7 million people, this basically means that we need 2.5 people to live in 1 house on average so we can give housing for everybody. so the answer to your confusion is always demand, there is simply always demand in hot desirable cities like seoul. I think the solution to this is offering great jobs with great salaries in all south korea and not only seoul, this would definitely help :)
How much do you think people pay for rent/mortgage a month in Toronto? The average rent in Toronto is over $2000 dollars a month, and the average person doesn’t earn anywhere near $52,000 a year. The average person earns around $30,000 dollars a year, before taxes. People in this country can’t afford rent, a lot are now homeless or moving in with parents or renting rooms out in their apartments or homes. I think the numbers you have are incorrect.
According to the IMF, GDP per capita of Cananda is 54,800 USD in 2024. So the average income I've written down is probably not so far away from the real number. Now, I think what you are talking about is 'median income' and there is a difference between those two. If I have used the 'median income', the numbers on the white board would have been lower not only to Canada but to all of those countries. Thank you for watching my video❤
@@average_korean_manif the number you have is correct buying or renting in Toronto is still over $2000 dollars a month for rent or mortgage which would equal out to at least least $24,000 a year and that also doesn’t cover mandatory insurance if you are taking out a mortgage. So we would be paying 50% or more of the yearly income of one persons salary earning $54,000 a year. Happy to watch your video, it’s always interesting to learn about how things are in different parts of the world. Most people if they didn’t own a home, they can’t afford to buy one, in UK homes were unaffordable 20 years ago for the younger generation at that time. Canada was still relatively affordable back then, but it’s not anymore. Immigrants moving to Canada can afford homes because it’s a multigenerational home, which is actually quite smart. It’s an excellent way to build money through real-estate. But most people don’t want to live like that. Even homes in the middle of nowhere are being sold for $500,000 and up. You might find a home for less but it’s not livable.
@@potato6658 I think your number is incorrect. $30K USD is roughly $41K CAD, which is roughly $20.50 CAD/hr. The average person makes more than that when you consider minimum wage is almost $17CAD.
@@skylers1144 I live in Canada and minimum wage is $17.20 dollars an hour, so a person would earn $35,776 a year before taxes, once taxes are taken off, it’s considerably less. I don’t calculate in US currency I use my own. So no my numbers are not incorrect.
So if they’re not getting married, are they all living in their family home with their parents? Is it uncommon to have roommates if you want to live on your own?
This video is only about 'buy apartment price'. When it comes to rent, it's another story. I should have mentioned about this sorry about that. I'll talk about a special rent system that ONLY exists in Korea in the future video. Thanks everyone❤
시청해 주셔서 감사합니다@TrueDm-
Yes. In western cities, rent is extremely expensive. So many people cannot afford to save to buy.
I find your videos interesting, but perhaps you made a mistake here. Perhaps you meant 100 square meters, not one square meter. I would like to see a video about the typical breakdown of expenses vs wages. How much spending (%) for food, housing, transportation, etc. I've been studying slavery for many years and often it is due to forced labor oversupply (keeping people where they don't want to be) or restrictions on access to productive resources (submission to slavery or starvation as an alternative). You seem to indicate a little of both in your videos. Do they same people who control access to jobs also control access to housing? Or is this something you would know?
May i suggest you do a video about your background? Your English is excellent BTW. How did you become so fluent, what is your educational background, what do you do for a living etc.
In the future I will
Thank you for the video. Very informative. The temperature here in Pennsylvania USA where I live hit 100 degrees today. So hot! And, I pay $ 1200 a month for a small one bedroom apartment. It is ridiculous.
Ha.. that'd be a godsend price here in the Bay Area. You're paying pennies for rent.
안녕하세요 from Kentucky, USA!
I have lived in Seoul and New York and honestly thought Seoul wasn't too bad. Yes, you get a smaller apartments but prices were much reasonable. I was getting paid 50 million won a year and that was better than NY salary of 100k I was getting.
Wow. Your videos are almost identical to the 50 year old Japanese middle aged man with the channel “askjapan”. You even have the same white board and talk very similar to him. 😂😂😂
Hello from Ohio, USA. I recently found your channel. You have very interesting content.
Hi. Could you plz tell about inheritance tax in Korean. I was really surprised you need to pay 50% if your house costs more than 3 mln and 20% if house costs from 500 to 1 mln. Does it mean that almost no one have those expensive housing or why people do not protest agains the law. I feel so bad that you have to pay again for what already was paid previously. Have a good day and greetings from Ukraine.
Rents are mad crazy!! My 1 bedroom in south Florida is $2200 😢😢😢
Can you talk about the incident with the teacher at the Soei Elementary school? What is the situation with parents and teachers in south korea?
Thank God. I live outside of Seoul and are able to work remotely. Seoul is a very stressful and hectic place to live and I would never live there unless I had to.
Even going there for appointments is really stressful.
In gangnam it’s even pricier than anywhere in America including California, I saw that on 네이버뉴스 in February
That is crazy. If anything I'd just commute to seoul and live in the countryside that is outrageously expensive.
I’m in Fort Lauderdale, Florida (30 mins from Miami) and I pay $1425 for a very very small 1 bedroom in a bad neighborhood. A nice 1 bedroom in a decent neighborhood costs $1800-$2200.
Great video!!!!!
Thanks for the video!
Apartments in Silicon Valley are around 3000 per month it’s so crazy! I hate living here
Interessant
Good stuff bro, keep going i think youll start having a decent revenue stream over the next few months
The average salary in UK is supposedly £36,000, even in London. Some people earn a lot less. There is a huge housing crisis and people cannot afford to buy their own homes as they need to pay a deposit which is around 10% of the property price. They also have to pay a tax called stamp duty, the amount of which depends on the property price e.g. 1%, 3%, 5%. Rents are also high so people are moving back to live with their parents 😢
37.7% of people living in London are foreign born. While a fair few rich paying their own way, many are being subsidized. Yet people not foreign born wanting to move there from outside London or a market town in England and ask for social housing allocated to them can’t cause they have no connection to the place. London council is now exporting people to Durham with 24 hour notice take it or leave it. The councils are running out of money and dumping people elsewhere. Rents less elsewhere and if the family becomes homeless when the owner wants the property back they are then that other councils problem. Now Labour is running the entire country not just the larger cities. They just need to build more and renovate more and put businesses in other areas of the country. It’s not hard. But the same think will happen to England that is happening to South Korea. Soon Birmingham and Manchester and Liverpool won’t be desired. It will all be about London. Like in Korea where it is all about Seoul.
The yearly income in Korea is low 😮 I thought it was higher. Seen too many K-Dramas with people living in nice flats always wearing high end fashion brands.. I think there is something going wrong when all the jobs and business opportunities are way to concentrated to one area. There is no quality in life if you have a job but you cannot afford a decent roof over your head or you have no money left to spend on food and nice activities. Whenever I think, I have to go and experience the big city life, I will visit Berlin, Paris, London, Tokyo or any other big city of interest for a week or two and afterwards I am happy to be at home again. No way I would want to live there, too many people and some craziness going on.
Apartments in the USA are rent only. Now there are condos, which can look like an apartment or a townhouse and those you can purchase. Some people purchase condominiums, and turn around to rent it out .
In actuality the problem isn’t culture at all,…it’s an economic problem. It’s similar to California.
Spain has so many similarities with South Korea it's scary lol We spend 43% in rent...
Interesting information, i would need to research much more as not everything is quite so simple as comparing salary to apartments. In the US for example they get 2x the salary but the price of an apartment is 2x as well….but we neglect that the US has a much lower rate of taxation, and also no deductions for health care while some positions include health policies. You can also eat for a fraction of the cost in the US, low taxes really do equate to an unbalanced viewpoint. A better comparison might be after tax income rather than full income, no matter the matrix it can be difficult to compare. We can agree living in major cities is getting more expensive, land locked and no room to build. Cheers.
😄
I think that is part of the reason why there are so many Korean's living abroad, for better economic opportunities.
A friend said you talk about low Birth rates and is of Korean Descent.
Okay but let's talk about how hot he is 😂 In this economy.
Yea but in the really end you still can find a roof for $300 rent in korea which is impossible in the USA. Minimum $800-$1000 here and the place will be hella ghetto..
Yea actually you are right. This video is only about 'buy apartment price'. Rent is a different story. I should have mentioned about that. 😊 thanks
@@average_korean_man keep up the good work 🙂
I own a house in Ohio for less than $500 a month. It is possible to live in the USA and not pay an arm and a leg.
@@Susan-id5xj you can but you must be living in a very sh*tty house tbh AND neighborhood or state. And Ohio?? LOL I understand 😂
I promise you that MOST people in NYC do not make 100k. They probably make 30k-50k and they live with roommates or family. I know people in their 30s that have roommates.
It's not possible to buy an apartment. Can you make a video about the rents?
Sure in the future
And I'm an average US Westerner.
New York City has inflated housing costs. You can buy a 2000 square foot house on a 1/4 acre in Texas for the same price as a 600 sq ft apartment in NYC. Location is everything in the US.
I don’t understand why people don’t get married based on housing costs… if you get married you have someone to split that cost with, so it’s beneficial to get married.
Median income is a better measure.
It would be interesting to see what the average size or sq. meters of apartments in each city is.
Expensive? Tell that to someone in Vancouver or Toronto! No detached house under 1.5 mil CAD. 1 bedroom condo in a decent area 1mil. CAD. 1 bedroom rental apt. $2000/month + electricity, parking ($100/month), home insurance etc. Salaries are about the same as in Seoul. You're not alone, man!
I wish all countries would put marriage Before having children.
I live in Nebraska - - middle of the United States -
113 yesterday ! The actual temperature was 98 I think - but with the humidity, they said it felt like 113!
And housing prices in the United States are astronomical !
Just last year, where I live you could find a decent apartment for maybe about eight or $900 - - one bedroom even a two bedroom.
Now the same apartments are going for 1400 or up !
I feel so bad for the children that are just graduating high school -looking forward to their whole life-and how are they going to be able to afford these apartments?
Seems like it’s a worldwide problem.
Keep the videos coming -great job !
Hang on a minute, marriage doesn’t exist in all countries! And- marriage started out as a Christian construct. So, you wish Christians get married before starting a family - yes?
A lot of crime -driven capital from India and China being invested in US real estate. Time to seize it.
Housing is Expensive every You Go!! Theirs just No Way Around It!! As far as Relationships/Marriages are Concern!! Let me just say this ROMANCE WITHOUT FINANCE IS IGNORANCE!! Case Closed😮😮😮
I am born and raised in New York , still live here. The average income is not 100,000 a year that is only for certain jobs. And even then they cant afford to buy an apartment.
You have to pay taxes, healthcare, life insurance. Grocery is expensive and transportain unlike in korea you pay the same for whereever you are gong on bus or train on public
transportation. If you own a car you will have to pay for parking and gas is very expensive. So 100,000 doesn't get you much in New York. Also that average you have may
have come from a census, that adds everyone living in the house hold.
I was just going to say that though there are many people who I’m sure make 100k. It certainly isn’t the average.As a New Yorker living in Seoul. This is maybe the average per household not per person. And even as someone who was making almost 90k. After rent, car, groceries, utilities, phone bill, pet expense, insurance, 401k, TAXES, etc.I was barely seeing that money.
The AVERAGE salary for a New York household is certainly $100,000. It's actually $107,000.
@@iu2 yep exactly HOUSEHOLD. Which is usually multiple people in NYC. Not per person.
I just found you on RUclips...do you have an IG?? Thanks 😊
Well, it's not very clear because you went by percentage. Many New Yorkers rent instead of buy due to property taxes and maintenance costs being so expensive in addition to the mortgage. To rent, your annual income should be 40 times the monthly rent. If you don't meet that, you have to get a guarantor who makes 80 times the monthly rent. My son was lucky he qualified for his one bedroom apartments. The one he stays in right now is rent stabilized, has a good city view and a large balcony/terrace. The atmosphere also makes it conducive to the educational videos he produces. He works very hard, travels a lot for work, does shows, photoshoots, etc.
So when you mentioned $100,000/year, if you divide that by 40, that would be the monthly rent you qualify for (they also check other things like your credit rating, savings, etc.). My son fell a little short of the 40x the monthly rent for his first one bedroom (before that, he lived in an Airbnb partition of an apartment for two months, with roommates for three), but the landlord approved him for the apartment. After a couple of years, he moved to his current one. He was a homeowner at 21, then sold his home after 5 years to move to NYC.
So I guess we would also have to factor in whether or not one can live by oneself with that rent, since many New Yorkers live with roommates due to housing being so expensive. I don't know how it is in Korea.
40 times the monthly rent? did you mean 4 times? 😯
@@jennshaw6339no. I meant 40 times. Your gross annual salary should be 40 times the monthly rent. That's why if you don't meet that, you need a guarantor that makes 80 times the monthly rent. There are guarantor companies. That's what renting in NYC is like.
Most people are renting an apartment in those other cities. And many are spending more than 30% on housing renting or owning. And that is two people’s income. People have roomates. And when they have a family they move to another area outside the city in many cases in the U.S.. Comparison is the thief of joy. Why not move to New Sejong City or Busan or Daegu? Does Korea not have internet and the ability to work remotely? I’m being sarcastic. People outside Seoul need to be close to Seoul. People closer to Seoul need to be inside Seoul. People inside Seoul need to be in Gangnam. Why? It is so bizarre. Why the lack of contentment? Envy is a deadly sin. I do not understand why Korea is doing what it’s doing to itself. For about 20 years I have been watching Korean movies and tv shows and also reading and watching Korean news in English language like Korea Today, Arirang, etc… The news and news programs have been very helpful understanding culture of what I’m watching. If I were reborn in Korea I would not want to live in Seoul. I would like to never meet a conglomerate family person or work for one or go to elementary, middle or high school with a family member of one. Surely 99% or %96 are not unhappy there? Why are people buying that? There is no one having to pay for school for minor kids, there are usually doctors (aside from the strike) and medication is feet away for everyone, there is rice and food imported and accessible no matter the season, everyone has dozens of shoes. Even a 2 bed unit has three doors floor to ceiling for shoes. It is not 1955 or 1965 when people didn’t have shoes and not everyone could go to middle or high school cause of lack of funds. Why the poor mentality? They turn bedrooms into closets full of designer bags and a clothing sterilizer machine appliance and say kids are too expensive. You don’t have money to marry. Really? I think the problem is no family time growing up and no one adult age having any idea what family is. Everyone was alone or working or at hagwon or mandatory study. With college and military service when people do marry their first kid comes or does not come at 33. You can’t just start having babies at 33 and expect to be successfully having 1-2 kids. Fertility declines at these ages. The problem is everyone was competing so no one knows how to interact with each other. How does a person date? It was every man for himself for over a decade growing up.
Do you think your country will increase immigration to your country in order to deal with low birth rate? I believe that is one reason here in the United States we have such uncontrolled immigration. It's not working though, it's really harming our country. I heard Japan is immigrating people from India in order to deal with low birth rate. I just wish our countries would support families. If they could support a work life balance and make the economy more affordable, and encourage families with good schools and support, we would be okay.
There are already quite a lot of foreign workers in the countryside. And probably there will be more in the future
Yes it's crazy !!! But how the price maintain same if nobody can buy it?? Normally go low after... I thinks with decrese population it's doesn't worth invest appart in seoul for sure 😇
The population of South Korea is 50 million. So there is always someone rich who can buy houses, but of course, most people borrow money from the bank
Real estate in seoul or other desirable cities will always be expensive, even if most people can't afford to buy, simply because well... there is still a lot of demand from people who actually can afford it lol, there are around 3.8 Million housing units in seoul for 9.7 million people, this basically means that we need 2.5 people to live in 1 house on average so we can give housing for everybody. so the answer to your confusion is always demand, there is simply always demand in hot desirable cities like seoul. I think the solution to this is offering great jobs with great salaries in all south korea and not only seoul, this would definitely help :)
Hi there, for once there is someone who is posting the reality of Korea. I like your work, would you like to collaborate with my company? Let me know.
How much do you think people pay for rent/mortgage a month in Toronto?
The average rent in Toronto is over $2000 dollars a month, and the average person doesn’t earn anywhere near $52,000 a year. The average person earns around $30,000 dollars a year, before taxes. People in this country can’t afford rent, a lot are now homeless or moving in with parents or renting rooms out in their apartments or homes. I think the numbers you have are incorrect.
According to the IMF, GDP per capita of Cananda is 54,800 USD in 2024. So the average income I've written down is probably not so far away from the real number. Now, I think what you are talking about is 'median income' and there is a difference between those two. If I have used the 'median income', the numbers on the white board would have been lower not only to Canada but to all of those countries. Thank you for watching my video❤
@@average_korean_manif the number you have is correct buying or renting in Toronto is still over $2000 dollars a month for rent or mortgage which would equal out to at least least $24,000 a year and that also doesn’t cover mandatory insurance if you are taking out a mortgage. So we would be paying 50% or more of the yearly income of one persons salary earning $54,000 a year.
Happy to watch your video, it’s always interesting to learn about how things are in different parts of the world.
Most people if they didn’t own a home, they can’t afford to buy one, in UK homes were unaffordable 20 years ago for the younger generation at that time. Canada was still relatively affordable back then, but it’s not anymore. Immigrants moving to Canada can afford homes because it’s a multigenerational home, which is actually quite smart. It’s an excellent way to build money through real-estate. But most people don’t want to live like that. Even homes in the middle of nowhere are being sold for $500,000 and up. You might find a home for less but it’s not livable.
@@potato6658 I think your number is incorrect. $30K USD is roughly $41K CAD, which is roughly $20.50 CAD/hr. The average person makes more than that when you consider minimum wage is almost $17CAD.
@@skylers1144 I live in Canada and minimum wage is $17.20 dollars an hour, so a person would earn $35,776 a year before taxes, once taxes are taken off, it’s considerably less. I don’t calculate in US currency I use my own. So no my numbers are not incorrect.
So if they’re not getting married, are they all living in their family home with their parents? Is it uncommon to have roommates if you want to live on your own?
It is very common to live with parents until they get married here in Korea no matter what age you are
Are rent prices cheaper in other areas? Do Korean youth only want to live in Seoul?
Not all of course but most youths do
@@average_korean_manwhy in Seoul? You have another nice cities like Busan
Do you own a house?