why is cost of living so different between countries and even between cities of the same country?
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People are talking about supply and demand but laws and regulations are a part of it. Some cities have a lot higher taxes than other cities even with similar populations. You can see this in just gas prices like going from Pennsylvania to another state, you can sometimes have a reduction of 20-30 cents/gallon because of PA’s high gas tax.
Many areas have monopolies for their utilities so their prices are high due to that.
Some cities or certain parts of the cities have limited grocery stores so high prices for them or high theft so high costs to offset the theft.
This plays into supply and demand but the regulations that make it difficult to build new housing so you can’t create the housing to meet the demand.
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