Femi Rogers, a US-based Nigerian entrepreneur and real estate developer, says the high cost of living in the United States leaves many residents struggling financially despite having jobs.
Speaking on the Frankly Business Podcast, Rogers said accommodation is one of the biggest expenses for people living in the US, noting that even modest housing commands high monthly rents.
“Things are tough in the US, seriously tough in the US. A bad house in the US is about $1,500 to $1,800, not a very good house. Per month,” he said.
Rogers explained that housing costs consume a significant portion of workers’ incomes, leaving little disposable income after paying for taxes, electricity, utilities and groceries.
He added that many people in the US live from paycheck to paycheck despite perceptions that the country offers unlimited financial opportunities.
“They live from hand to mouth. It’s very difficult to explain to Nigerians who have not stayed abroad,” Rogers said, arguing that the economic realities of living in the United States are often misunderstood by those who have never lived abroad.
