I suppose it all depends what you call a full-time job.Where I come from, 16x45 minutes/week would never be deemed a full-time job by officialdom.
And so long as you're not a gourmet nor a whisky alcoholic nor a bar fly, you can live well compared to the lifestyle of Westerners doing menial work in the West.
I could go back to my homeland to teach high school math. But I wouldn't touch secondary school teaching in the West with a bargepole these days.Too much hassle with keeping attendance and teaching records,unruly pupils,longer hours in the classroom than in China, correcting students' homework after class,and paying house rent.Although I could earn more money there,its buying power would be much less.
Besides,regurgitating the same oral lesson 8 times a week to college students without having to correct written homework is a very good deal for 4-5000 a month for somebody without any formal teaching qualifications in the subject of English.I know there are many backpackers without university degrees teaching English here too who couldn't obtain a teaching post or other professional employment anywhere in the world except in the PRC.
As for the free accommodation,it's usually a flat of at least 80 square metres,more than adequate for a single person.
Having said all that,each FT has his own individual needs and priorities!