4 ms·
This is what many low income buildings become. They take 30% of your gross income so any small raise get's immediately reduced by half and sucked into the mach
by ipaddr 4y ago
This is what many low income buildings become. They take 30% of your gross income so any small raise get's immediately reduced by half and sucked into the machine. Unless you can get a huge salary increase above the average wage you can never save enough to move into a property outside of the system even after your rent reaches parity with average rent prices. The only thing one can do is to quit working
legally which reduces the rent and frees you up to find cash work.
- adgjlsfhk1 4y agothis is way worse. medical expenses for disabled people are high enough that this takes over 100% for a lot of jobs
- Dylan16807 4y agoThat's way less of a problem. It's not great when half a raise goes to rent and half goes into your pocket, but it doesn't hold a candle to policies where the entire raise disappears or you actually end up with less money. And a situation like that definitely won't stop you from saving money. It doesn't trap you. If a wage increase takes your payment from significantly below market rent up to market rent, you'll be able to save up a security deposit and moving expenses pretty quickly. Lower the percentage some or make it a third of net income and it sounds like a pretty great system.
- michaelmrose 4y agoAs a resident this is absolutely the least of the difficulties in such buildings.