I was living with roommates when I was making 40k a year.
Notice, too, “roommates” and not “a roommate.” The housing situation out here is bonkers.
Fiancé and I both work full time and we have a studio apt, no kids
… I make decent money but a house still seems like a dream. Maybe one day
… I make good money and a house in this state just is not happening. Remote life is about to be for real…plan to move to a place that hasn’t gone insane.
i make 50k. union job. on a good year maybe 55k with overtime and differential. have my own place. no debt, no kids. i’m struggling tbh.
Roommates. 3 bd 2 bt house in the Westminster area. $2200 a month. It goes up in February though
If you’d like to see similar discussion pertaining to any particular city, google something like this:
reddit afford living San Francisco
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As documented by the January 2022 market-trends report from the Denver Metro Association of Realtors, the red-hot real estate scene in Denver has defied expectations, with the average price for a detached home in greater Denver rising above $700,000, a mark associated with the eye-popping peaks registered during the spring and early summer.
Denver Home Price Average Over $700,000 — Again
As Nicole Friedman explains in The Wall Street Journal, the housing crisis can be understood as a 20-year-old supply-and-demand problem:
Between 1968 and 2000, the United States built an average of about 1.5 million new housing units every year. But in the past two decades, in part because of a slowdown during the Great Recession, the country has added only 1.225 million new housing units every year.
Today, the country is 6.8 million units short of what was needed to meet new housing needs and to replace units that were aging or destroyed by natural disasters.
The upshot: Between 2001 and 2019, median rents rose faster than median renter incomes in nearly every state, according to the Center on Budget and Policy Priorities. In only 7 percent of counties can a minimum-wage worker afford a one-bedroom rental.
America’s Housing Crisis Is a Choice
Blake Kittridge has lived in Denver for 4 years. He moved into the Infinity LoHi building in the middle of the pandemic. He likes living there but recently, they told him they are raising his rent by more than $800 a month.
“I know that this is more of like a price-gouging thing,” he says. “The entire reason they are raising my rent like they are is because they believe they can get that on the market so they can push me out.”
He rents a one-bedroom apartment for $1,650 per month. His landlords just told him rent for next year is going up to $2,490 per month.
Ron Throupe, an associate professor of real estate at the University of Denver. He just completed a second-quarter study about the rental market in Denver. He says rent is up on average by $107 for the quarter.
“That’s the largest rent increase quarterly we’ve ever seen in this survey,” Throupe says.
For almost a year, a federal moratorium on evictions allowed tenants who suffered economic losses from the coronavirus pandemic to stay in their homes.
Now, the moratorium’s scheduled expiration at midnight on Saturday has left renters around the country packing their belongings and facing an uncertain future as they search for housing options. Already, homeless shelters have been adding beds in preparation for an influx of people in need of a safe place to live.
The Census Bureau’s most recent Household Pulse Survey, which captures the impacts of the pandemic, found that 3.6 million people thought it was somewhat or very likely they would be evicted within the next two months.
For Tenants Nationwide, a Scramble to Pay Months of Rent or Face Eviction
A federal eviction moratorium is scheduled to end on Saturday. Many tenants are packing up and facing an uncertain future.
Andy Bales, the CEO of the Union Rescue Mission, requested a security guard accompany himself and host Tonya Mosley during their interview. And as the interview started, they came across a person agitated by their presence.
Bales says this happens just about every day, especially during the pandemic. The lack of sidewalk space in front of the Union Rescue Mission demonstrates that Skid Row is “the worst it’s ever been,” he says.
“This whole street was completely clear. But now it’s rare that you can find a sidewalk that you can pass,” he says. “It’s packed with people devastated by homelessness.”
Legal Minds Clash On How To Fix The Homeless Crisis On LA’s Skid Row
Here & Now
There are many contributors to the problem. The horrors of childhood trauma and poverty, mental illness and chronic drug abuse surely add to the likelihood that someone lives on the streets. But Nan Roman, president of the National Alliance to End Homelessness, says the primary cause of the crisis is simple: Housing has gotten way too scarce and expensive.
A few years ago, a team of economists at Zillow found that once cities cross a threshold where the typical resident must spend more than a third of their income on housing, homelessness begins to spike rapidly. When incomes don’t keep pace with the cost of rent, a cascade effect ripples through the housing market: High-income folks start renting places that middle-income folks used to rent, middle-income people start renting places that low-income folks used to rent, and low-income folks are left scrambling.
“It’s sort of a game of musical chairs,” Roman says. “And people who have a strike against them — because they have mental illness or a substance abuse disorder or a disability — are the least likely to get the chair.”
Homelessness wasn’t always this bad. “In the 1970s, there was an adequate supply of affordable units for every low-income household that needed one — and we really didn’t have homelessness,” Roman says.
How California Homelessness Became A Crisis
Planet Money, NPR