i’m over half, and expecting yet another rent increase soon.
Who are the half that make the 7 figures required to not spend half your income on housing?
Did they just fully make up have the surveyed population?
$1400/mo, the rough figure from the article, is 30% of $56k/yr. If you made $1m, 30% of that would give you $25,000/mo. How do you figure?
Median household is apparently 80k now. 30 percent of that monthly is 2,000.
In my city 2,000 will rent you an infested place with water damage from the flood a year ago. But if the city comes around you have to pretend not to live there or else they’ll kick you out.
Don’t forget that household income is everyone in the house. So if you are all poor college kids with part time jobs making 15-20k a year your household income will still be close to or at the median, even though each of you are individually really poor
That’s not nearly the normal though. Dual income households are the norm by far.
Sure but any part time jobs the kids have also count towards median household income I assume
That’s like a 2 year period in an 18 year living situation.
Kids live at home a lot longer now 😂 way more than two years haha
If you move outside the city, shit gets much, much cheaper. Mortgages are easily $1,750/mo ($300k, 30yr, tax + insurance included). If your goal is to live in NYC or Seattle, you will be spending quite a bit on your chosen lifestyle. If your goal instead is to buy/rent an affordable 2-3br home, there are lots of options.
Ugh. I get really annoyed when people defend egregious housing prices with the “just live in a shitty place, in a shitty location, in the middle of a food desert, far from economic opportunities, social interactions, public transportation, and you can afford it” argument
F
Move far, far outside of populated areas and you don’t even need a mortgage.
Also known as The Unabomber Rental Mitigation Technique.
Kaczynski was unironically right about a number of things, criminal activity aside.
