Rent Is Becoming Unaffordable For Many U.S. Workers
6 years ago we were in San Francisco. We visited a friend. The friend’s 1 bedroom apartment was over $3000 a month. It’s likely much more these days. But crazy rents are no longer limited to just New York or San Francisco.
10 years ago the Federal Reserve intervened in the housing crash. In so doing it created massive warping in real estate markets. This warping appears to be getting worse with time.
Software developers, general managers and nurses are able to meet both Housing Wages but for many other occupations and accommodations, renting is becoming increasingly difficult. Medical assistants, laborers and janitors are among those falling short while the gap back to minimum wage workers is even greater still.