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Report says housing 'out of reach' for Bay Area minimum wage workers

Original post made on Aug 9, 2022

A person who wants to live in a two-bedroom, market rate apartment in the San Francisco metropolitan area must make more than $60 an hour to afford it, according to a report released by the National Low Income Housing Coalition.

Read the full story here Web Link posted Tuesday, August 9, 2022, 5:25 AM

Comments (3)

Posted by John B
a resident of Foothill High School
on Aug 9, 2022 at 9:48 am

John B is a registered user.

This is the problem we have across bay area. Cities do drag a lot of any new construction, with zoning laws, planning, this/that regulation drag for months/years etc. They pass regulations left and right as they do not affect current residents. No body cares. This is going to impact the future residents, middle and low income people. These people and young adults never show in the city meetings. Most of the council members are well to do and aged. They never going to understand the problems. Middle, low income and young adults, don't have any representation nor their interests taken into. So the cities do not care for...Need state laws with carrots and sticks so that this issue is addressed. Let the problem blow up little more, state will get into more draconian laws, taking away the local control and fess etc.

Posted by Get the Facts
a resident of Another Pleasanton neighborhood
on Aug 9, 2022 at 1:28 pm

Get the Facts is a registered user.

Being that the minimum wage hasn't gone up since 2008, this is not at all surprising. Minimum wage increases should be tied into cost of living increases.

Posted by Swagu
a resident of Bridle Creek
on Aug 9, 2022 at 8:20 pm

Swagu is a registered user.

My neighbor is Pleasanton is the original owner and bought his house in 1970 for $32k.
My grandma bought her home in eastside San Jose in 1951 for $13k.

Adjusted for inflation, $34,000 in 1970 is equal to $251,439 in 2022, and the home is worth 1.4 million.
Adjusted for inflation, $13,000 in 1951 is equal to $144,977 in 2022, and the home is worth just over 1 million.

The same logic boomers used for university: "I could pay for my college working my summer job stop complaining kids" is now applying to the house market.

Instead of a place to live, homes are being treated like investments in a game of monopoly. Investment banks and rich foreigners are buying up homes in cash pricing out working class families from being able to afford a basic home to buy.

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