4 ms·
For rents to go up, people have to be able to pay those higher rents. Ostensibly because they have salaries that are even relatively higher than yours (this is
by muzz 12y ago
For rents to go up, people have to be able to pay those higher rents. Ostensibly because they have salaries that are even relatively higher than yours (this is not intended to be a slight, but when there is a bidding war for salaries there will be a bidding war for limited housing).
- fredophile 12y agoThe cost of renting or buying property isn't limited to the income you get from your salary. I know of renters in expensive cities that have split one bedroom or studio apartments between multiple people. You can bet that whoever rented the woman in the article their garage to live in is using that money to help pay the mortgage.
- muzz 12y agoGood point, housing is not atomic.
- refurb 12y agoNo that's a great point. If enough folks making very high salaries move to SF (and the housing stock stays constant), then prices will rise. My point is that it might not be fair that low-income folks have to move when housing gets more expensive, but it doesn't stop with low-income. I'm sure plenty of middle-income folks have been forced out of the Bay area as well.