Friday, May 1, 2015
Don’t Remodel Junior’s Basement Room After He Finishes a 4 Year Degree The high rent [even studio apartments] would gobble up more than half junior’s P/T pay at i.e., Radio Shack, before they close the store down….Radio Shack is bankrupt and went out of business. Snippet: “…For more than one in four renters, housing and utilities consume at least half their family income, according to an analysis of Census data by Enterprise Community Partners, a nonprofit that helps finance affordable housing. The number of such households has jumped 26 percent to 11.25 million since 2007, a sign that the 6½-year-old recovery from the recession has given scant relief to much of the country. The government defines housing costs in excess of 30 percent of income as burdensome. “It means making really difficult trade-offs,” said Angela Boyd, a vice president at Enterprise Community Partners. “There are daily financial dilemmas about making their rent or buying groceries.” The crisis reflects one of the shortcomings of the recovery: Wages have failed to match rising rental prices. At the same time, construction has failed to keep pace with demand from renters. The recession pushed more millennials, former homeowners who faced foreclosure and low-wage workers into rental housing….” http://finance.yahoo.com/news/more-americans-spending-least-half-110112473.html The article above is general America….the Seattle area is far more legal citizen Millennial unfriendly when it comes to rent and low P/T wages today.