2 ms·
> Something that can't be attributed to rising inflation? Sure, but probably a very particular type of inflation: housing cost. Wages for unskilled labor haven
by danans 9y ago
> Something that can't be attributed to rising inflation?
Sure, but probably a very particular type of inflation: housing cost. Wages for unskilled labor haven't increased at a rate to account for rising housing costs, exacerbated further by insufficient housing supply, and demand for housing has gone up due the increased number of jobs.
Median household income in San Bernardino is 39k/yr (pretax) [1]. Median rent is 16k/yr [2]. So the median household spends nearly 42% of their pretax income on housing. The other necessary expenses of life (especially if you are far below median income and have dependents) will quickly eat through the rest.
There is a dynamic at play in which several factors, including the increase in lower paid jobs and population, is increasing poverty rates.
[1] http://www.bestplaces.net/economy/city/california/san_bernardino http://www.bestplaces.net/economy/city/california/san_bernar...
[2] https://www.rentcafe.com/average-rent-market-trends/us/ca/san-bernardino-county/san-bernardino/ https://www.rentcafe.com/average-rent-market-trends/us/ca/sa...
EDIT: found a more conservative median rent citation and updated the figures based on that.