Generalizations like Europe is more expensive than the US make no sense. Where in Europe, where in the US ? There is quite a difference between cost of living in London, Paris and Munich already, and the cost of living in the Bay Area is not the same as Austin.
Even within a given country, the cost of living is very spread out (London and Paris are extremely expensive compared to the average of their respective country for example).
Funny, I (as an Austrian) am used to hearing that Munich is one of the most expensive cities in Germany.
Re:Why is America the 'no-vacation nation'?
by dennisgorelik on Monday May 23, 2011 @10:38PM
(#2578439)
Nothing stops you from comparing Austin, TX to Munich, Germany and San Francisco vs London/Paris.
It's just that Europeans have lower income, so they do not buy things that wealthier Americans do. Europeans on average are driving smaller and older cars, they drive less. Other things you mentioned - Europeans are buying less gadgets.
Who's making the right choice is hard to say. Does larger house worth more than long vacation? The answer depends on who you ask.