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Median household income, 2008-2012 $73,802
http://quickfacts.census.gov/qfd/states/06/06075.html
From the article:
"You have to make three times the monthly rent to qualify. So even for a $2,000 studio, you have to make over $70,000 a year."
Insane - flipping insane. Even IF I were making (or had an offer to make) $70K - $120K a month, I could find a heck of a lot of other places to spend the money. No, the bottom line is that when I was shopping for a job, I looked long and hard at the cost of living, including rent to anywhere that I was interested in. When I was offered a spot, I looked even closer and harder. Nope, y'all can have SF or even CA in general, the taxes and the cost help to make that state extremely unattractive to me.
smaulgld
2014 Jan 22, 7:02am
basically even if you have a decent job and live in SF, you spend most of your money on rent.
JodyChunder
2014 Jan 24, 4:22pm
basically even if you have a decent job and live in SF, you spend most of your money on rent.
Meanwhile, Paducah, KY is a wonderful American town with 1/10th the overhead, and 1 SouthWest ticket away from the BA.
Have you ever been to Paducah? I have, it's a shithole.
One man's shithole is another man's ... can't say that I've ever been to Paducah, but I have been to SF and in many, many ways it qualifies as a cesspool. An expensive cesspool, but a cesspool all the same. Again, I've never been to Paducah, but if I could afford to live in SF - I wouldn't!
JodyChunder
2014 Jan 26, 5:05am
Have you ever been to Paducah? I have, it's a shithole.
I just passed through last summer. The downtown area had a good feel...real American texture. There was even a kind of an arts district. Maybe not as pretty as San Jose, but also not as dull as San Jose, which really is blandsville.
I'm a seventh generation Californian, but I love the South
epitaph
2014 Jan 26, 5:32am
Those hobos living on the street in San Francisco are actually savvy personal finance gurus saving a fortune on rent.
That's over $1M worth of gains/equity.
Congrats ducky.
So you're saying when you work, you get money? These get rich renting places ideas are an example of too good to be true. Underlying this idea is the suggestion that the landlord doesn't do anything for this money. Some don't! That's where the term "slum lords" came from. The rest who rent do so with a certain varying amount of work involved.
Hey, I already have a job! I don't want to work more. I know I could make more money by working more. So what's your point?
http://www.sfgate.com/realestate/article/S-F-apartment-rents-cool-in-winter-but-still-red-5163593.php