2 ms·
Rent is so high because salaries are so high.
by gkoberger 11y ago
Rent is so high because salaries are so high.
- digisign 11y agoRent is high because there is not enough housing.
- maerF0x0 11y agoNot enough housing because high salaries draw more workers.
- simoncion 11y agoo-O Not enough housing because next to no housing is being built, let alone construction anywhere near the rate required to meet demand. Honestly, $120->150k gross (pessimistically ~$72->90k post-tax) doesn't go all that far when you're paying anywhere from $24,000 [if you're lucky] to $48,000 (or more) per year in rent.
- enraged_camel 11y agoUm, no. It's very well-documented that the reason rent is high is because the locals are strongly resisting the development of new properties. The resulting supply shortage, combined with overwhelming demand, makes property prices skyrocket. Therefore, companies end up having to offer high salaries to compensate.
- deleted 11y ago[deleted]