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Monday, June 18, 2018

Affordability Crisis: Low-Income Workers Can't Afford A 2-Bedroom Rental Anywhere In America

The National Low Income Housing Coalition’s (NLIHC) annual report, Out of Reach, reveals the striking gap between wages and the price of housing across the United States. The report’s ‘Housing Wage’ is an estimate of what a full-time worker on a state by state basis must make to afford a one or two-bedroom rental home at the Housing and Urban Development’s (HUD) fair market rent without exceeding 30 percent of income on housing expenses.

With decades of declining wages and widening wealth inequality via the financialization of corporate America, and thanks to the Federal Reserve's disastrous policies (whose direct outcome is the ascent of Trump), the recent insignificant countertrend in wage growth for low-income workers has not been enough to boost their standard of living.

The report finds that a full-time minimum wage worker, or the average American stuck in the gig economy, cannot afford to rent a two-bedroom apartment anywhere in the U.S.



Jim said...

But that's not Trump's fault.

We've had illegal aliens POURING into the country for years now, openly invited by the Obama administration.. guess where they're living?

In YOUR 'Affordable' housing.

And the crushing demand for housing has driven rent through the roof.

But the spin media would have you think it's all about the terrible wages Americans are working for. That is a factor-- the flood of cheap labor keeps the wages down while the rent keeps going up.

But, of course, that's all because we elected Trump, right?

lmclain said...

The reason doesn't matter.

Poor people with no house, no food, no hope, and no chance ALWAYS rise up and even things up.
Those people who are down to their last 25 billion actually think they need MORE!
If you asked them for 20 million to build an orphanage they would have their security guards throw you out of the 4TH floor window.
If you asked any of the 5 or 6 major slumlords in Salisbury to lower the rent on the 1940-1950 era houses that have been paid for many times over, they also would have the police beat you to death.
When two adults working full time STILL can't pay the rent, at what point do millions of them say "we ain't movin' again. Come and take it if you can"?
Slumlords of Salisbury (and I know their names and what they do) better be watching their back and keep that sidearm loaded.
They also have special rights that the serfs don't have, but that is also a reason for revolution, and whether you think so or not, it's coming.
It is absolutely INEVITABLE. So put the petal to the metal on your sickeningly gross greed. You'll be given the same mercy YOU give. Which means, you'll get hung, too. See if your $700,000 a month in rental income does ANYTHING to save you. It will also be way too late for crying and begging. It just business, you know. Nothing personal.
Keep cheering.

Anonymous said...

It's supply and demand if it's not affordable then you move to somewhere that is.

Anonymous said...

Illegals can afford the rent because they live 20 in a 2 bedroom house.