Americas Growing Wage-Rent Disparity
Adam L. Beberg
Wed, 3 Oct 2001 13:16:35 -0700 (PDT)
"...The national median housing wage, based on each countys housing wage for
a two bedroom unit at the Fair Market Rent weighted by Census 2000
population figures, is $13.87 an hour, more than twice the federal minimum
wage of $5.15 per hour. This means that on average, there must be more than
two full-time minimum wage workers in a household in order for the household
to afford a two bedroom housing unit at the Fair Market Rent..."
The data looks right on for places I have lived... Basicly, the one income
family is dead, and the 2 income family is an endangered species. The data
all laid out like this really shows why all the teachers and doctors are
fleeing the bay area... but keep in mind most of the data is from before the
economy really started down, and well before the attack... so there has
been a serious downshift in earnings, but no real decline in rents.
The most interesting is this one... http://www.nlihc.org/oor2001/table5.htm
the "up and coming" places have their average sate-wide rents "jumping and
soaring". Some serious non-linear effects. No wonder people hate geeks so
much, this spells it out preaty clearly - geeks move in, everyone else has
to move out.
- Adam L. "Duncan" Beberg