Tuesday, March 13, 2012
We had the housing bust, now comes the rental bust!
Today I read an article about how middle and lower income Americans are essentially being priced out of rentals. The article goes on to state something I've said for years: that nowhere in America can one afford to make rent on a minimum wage income. Duh!!! The think tank that made this little study wasted their time and money putting this together. Just go out into Hopewell and ask anyone there if they could afford rent and living expenses WITH children on minimum wage if they didn't receive public assistance. What about cities where rent is considerably higher such as New York? Minimum wage is the same all across the country with minor cost of living increases according to the area you live. So If you live in the most expensive city in the country and you're only pulling in 8 bucks an hour, do you really believe rent will be paid each month without some form of aid or at the very least a LOT of struggle and creative frugality?
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