>So while Asian American households seem richer on paper, many of them don’t really feel richer because they live in places where the rent is high and the groceries are more expensive.
Ok, but other things like online purchases and college tuition aren't affected by cost of living. If you live in a high cost of living area sending a kid to an Ivy is relatively cheaper for you than someone in a lower cost of living area.
Cost of living is high partially because there is higher demand for that place. Cincinnati isn't San Francisco.
>If you live in a high cost of living area sending a kid to an Ivy is relatively cheaper for you than someone in a lower cost of living area.
I don't disagree with your point but this is a very strange example. Most people don't send their kids to Ivies (most don't even think about applying), and even fewer pay full price.
I live near London so I'm a bit of an outlier, but housing is by far my largest expenditure, double that of food and approximately 7 times that of vehicles/transport.
Also (AIUI) in the US most of the cost of education is in huge loans taken out by the child.
Ok, but other things like online purchases and college tuition aren't affected by cost of living. If you live in a high cost of living area sending a kid to an Ivy is relatively cheaper for you than someone in a lower cost of living area.
Cost of living is high partially because there is higher demand for that place. Cincinnati isn't San Francisco.