jimmy mcmillian

The Rent is Too Damn High – San Fran Residents Pay $1,000 a Month to Live in Shipping Containers

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There’s nothing quite like a grotesquely lopsided “economic recovery” in which a handful of cities boom, while the rest of the nation stagnates. Even worse, millennials living in such chosen cities face one of two options. Either live in mom and dad’s basement, or face a standard of living far more similar to 19th tenement standards than the late 1990’s tech boom.

With that out of the way, I want to introduce you to what a $1,000 per month rental in the San Francisco Bay area looks like. Shipping containers:

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Don’t worry, there’s a lovely garden out back:

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The Rent is Too Damn High – Zillow Report Shows Rents Unaffordable in All Top 35 Metro Areas

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Screen Shot 2014-12-11 at 10.32.57 AMWhile most of this Zillow article is merely a sales pitch to convince broke and struggling Americans trapped in low paying jobs to buy homes they can’t afford, the small section highlighting how rents are historically unaffordable is pretty interesting. Zillow analyst Meredith Miller notes that:

Renters, on the other hand, continue to struggle. Renters making the national median income and renting the median-priced apartment should expect to pay about 30 percent of their income in rent, compared to roughly 25 percent historically. Of the largest 35 metros areas, Miami, San Francisco, New York, San Jose and Los Angeles have the biggest differences between current and historic rent affordability.

Rents are historically unaffordable in all of the largest 35 metro areas.

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