4 ms·
When I saw ... average renter has a salary of 300K and aged 30 ... I stopped reading. These seem like alternative facts to me. While there surely exist people l
by brutus1213 10y ago
When I saw ... average renter has a salary of 300K and aged 30 ... I stopped reading. These seem like alternative facts to me. While there surely exist people like this, I call BS that they are in a significant enough number to be statistically significant for real estate developers.
- kmicklas 10y agoThey are for high end luxury developers in cities like NYC though. I don't think this article is implying these are widespread trends for the "99%" market (except maybe some of the stuff about privacy).
- brutus1213 10y agoIn places like the Bay area and Manhattan, it is not atypical to see rents of 4-5K for a 3 bedroom apartment. My personal experience (n=1) indicates that many of these places are inhabited by young adults (single or childless couples) who accept roommates as the only way to survive in these expensive areas. I don't consider this type of expensive real-estate luxury (despite the price tag). If you go to the middle of the USA or the southern states, you'll find luxury apartments/houses with all the mainstays (as the article put it) - large master bedrooms, home theatres, etc. The people buying these make a lot less than 300K I can tell you that (80-100K income will get you there and the home price would be 400-500K).
- neaden 10y agoI mean, there are 319 million people in the USA, so the top 1% represents over 3 million people which is easily about a million homes. That's enough to be an industry.
- woofyman 10y agoOnly 242 million adults.
- SippinLean 10y ago>Luxury