2 ms·

Why do you think rent to income increased 2x in L25y? The numbers I've seen are a small fraction of that.

• riku_iki 2y ago
  > Why do you think rent to income increased 2x in L25y? I didn't say I think this happened, I just gave example with "if", in reality change may be not as extreme, but even say 20% change on average meaning that certain slice of population was downsizing because was affected dramatically. I think these stats are not even and can be heavily sliced by region/social slice, e.g. in silicon valley rent definitely raised 2-3 times in last 15 years, but blue color workers didn't receive equal raise in wages.
  • verteu 2y ago
    > in silicon valley rent definitely raised 2-3 times in last 15 years, but blue color workers didn't receive equal raise in wages. Source? In the last 15 years, SF median rent went up 78% and SF minimum wage went up 93% [1] [2], so it seems quite likely blue color wages outpaced inflation. I notice a worrying trend where people invent negative economic stats instead of looking at the real numbers [3]. [1] https://fred.stlouisfed.org/series/CUURA422SEHA https://fred.stlouisfed.org/series/CUURA422SEHA [2] https://www.sf.gov/sites/default/files/2023-02/Historical%20San%20Francisco%20Minimum%20Wage%20Rates.pdf https://www.sf.gov/sites/default/files/2023-02/Historical%20... [3] https://en.wikipedia.org/wiki/Vibecession https://en.wikipedia.org/wiki/Vibecession
    • riku_iki 2y ago
      I know the price of specific apartments. 2br went up from 1600 to 3200-3800(depending on month price varies), and many blue color workers who used to live there moved from that complex. > SF median rent your graph shows not SF (which is actually not silicon valley) but SF-Oakland metropolitan area. SF rent likely raised more than that. > SF minimum wage went up 93% Min wage is an outlier, they couldn't afford rent then and now. Another factor is taxes, while wages increased, wages after taxes increased slower, because pushed income to another bracket.
      • verteu 2y ago
        It's impossible to have a serious discussion on (rent/income) trends if your only source is an ancedote about a single (unnamed) apartment's price. (And you include no data on wages at all.)
        • riku_iki 2y ago
          You are free to go.
          • verteu 2y ago
            If you don't want to have a thoughtful discussion based on data, HN is not for you.
            • riku_iki 2y ago
              We both don't have reliable data. I have anecdote, which is very well aligned with the market in my area, you are free to be in denial.