Quote:
Originally posted by Cynthetiq
thanks for the article. As I travel around the US the first things I look at are the cost of homes, then I look at the industry and wages in the area.
I'm usually flabbergasted at the disparity and wonder how people make ends meet.
|
If they've got even a prayer of affording a house, they take a mortgage with payments of up to 50 percent of their annual income. Once upon a time, no lender would make such a loan. Now it's not uncommon around here.
If they're low-income in a high-property-cost area, they live four or six to a one-bedroom apartment, 10 or 15 to a house. That's the way people used to live in urban areas, back in the early part of our century. We've come back to that again. O brave new world, you look a lot like 1910.
Of course, the well-to-do don't see any of this, and they can pretend that it doesn't exist.