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Does it matter if you are comparing one year of living in the valley? You don’t need to buy a house for that.

It matters a whole heck of a lot, but not enough to invalidate the statement.

It does when a massive portion of your supposed profits are eaten by a 4-5 figure monthly rent on a flat.

Eh you can find a two bedroom outside the city for like 3. You're still making like 2-3k more even with the higher cost of living.

But that’s not the reason millions of people aren’t flocking to the US to get those higher wages.

An iphone costs more, a Corolla costs more, gasoline costs more, a washing machine costs more, a vacation in Thailand costs the same.