1. Cliff Arthur has equally attractive job offers in Miami and Los Angeles. The rent ratios in the cities are 8 and 20, respectively. Cliff would really like to buy rather than rent a home after he moves. Explain how to interpret the rent ration and what it tells Cliff about the relative attractiveness of moving to Miami rather than Los Angeles, given his stated goal

Question

1.	Cliff Arthur has equally attractive job offers in Miami and Los Angeles. The rent ratios in the cities are 8 and 20, respectively. Cliff would really like to buy rather than rent a home after he moves. Explain how to interpret the rent ration and what it tells Cliff about the relative attractiveness of moving to Miami rather than Los Angeles, given his stated goal

Writeacher · Answer

"rent ration" = ??
"his stated goal" = ???

I'd go for the 8! The cost of living has to count for something.

If he were to spend, say, 30% of his net income on housing, especially in an area in a state with a high cost of living, what will he do without?

e · Answer

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