General Discussion

GummyBearz

(2,931 posts)

64. There is a reason

Fri Dec 25, 2015, 09:27 PM

Dec 2015

Until you save up that down payment (which is pretty damn big in states like California), even married 2 income 0 kids people have to rent. And high rent eats up what they can save. It took me and my wife quite a long time to get the down payment together. We live moderately... and sky high rent really hurt the ability to save. We were renting a 1 bedroom 900 sq. ft. place before, with 2 incomes (and mine is a high income). We just bought a decent 2 bedroom 1300 sq. ft. place 5 months ago, but we should have been able to buy it years ago. We are 34 and have been out of college since our mid 20s....

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THIS MAP SHOWS THE HOURLY WAGE YOU�D NEED TO AFFORD A 2-BEDROOM RENTAL IN EVERY STATE [View all] Uncle Joe Dec 2015 OP

That number gets cut in half if they get a roommate. nt geek tragedy Dec 2015 #1

That might help in some cases unless you were single and had a child. n/t Uncle Joe Dec 2015 #3

Should that be our financial future? JackInGreen Dec 2015 #4

It's not the only kind available. geek tragedy Dec 2015 #5

Not a single person here JackInGreen Dec 2015 #8

Couples, unless they're in a 1950's tv show, also require geek tragedy Dec 2015 #9

The associated costs for "a kid" are enormous, when you factor in daycare Hekate Dec 2015 #49

I suppose I never had my own apartment either. That's because I married JDPriestly Dec 2015 #15

People have roommates when they're young and single, and then transition geek tragedy Dec 2015 #16

Oh my. I really like my books, and they multiply in the dark. There's the bare basics... Hekate Dec 2015 #51

I always thought hfojvt Dec 2015 #50

Lets be honest, some of us like privacy n/t AZ Progressive Dec 2015 #55

I guess you were wrong. JDPriestly Dec 2015 #58

actually I have an advanced degree in economics hfojvt Dec 2015 #61

You know what I really came to understand during the whole marriage equality? artislife Dec 2015 #74

I've been places where twenty orthirty people watch the same TV... Human101948 Dec 2015 #78

that sounds pretty bad hfojvt Dec 2015 #79

Yes, but it's not like a 1br is half the price of a 2br. Nor is every available apartment or house a MillennialDem Dec 2015 #33

The 1br/ minimum wage info they show is more relevant nt geek tragedy Dec 2015 #35

The vast majority of rental homes or for that matter for sale homes are 2 bedrooms or more, Uncle Joe Dec 2015 #60

There are many single parents cali Dec 2015 #34

Why stop there. Stack em up 10 to a room and rent is quite affordable. CBGLuthier Dec 2015 #26

Does everyone here live in 6 bedroom mansions? geek tragedy Dec 2015 #27

Indeed, the problem is zoning regulations Warren Stupidity Dec 2015 #76

I don't know why people are so obsessed with RENT hfojvt Dec 2015 #48

There is a reason GummyBearz Dec 2015 #64

that only applies to some places hfojvt Dec 2015 #66

You nailed it GummyBearz Dec 2015 #68

I will never own again. KentuckyWoman Dec 2015 #84

I can imagine why the average NY apartment might be cheaper DFW Dec 2015 #2

NYC also has rent stabilization. nt geek tragedy Dec 2015 #7

I'm not at all surprised. Thank you for the info, Uncle Joe Proserpina Dec 2015 #6

You could put a roof over your head on $12/hr in Arkansas; you'd be homeless in CA. SunSeeker Dec 2015 #10

But we aren't in Arkansas, not even Hillary is in Arkansas Proserpina Dec 2015 #11

I am sure some folks from Arkansas would take issue with your post. SunSeeker Dec 2015 #12

Anyone who works 40 hours a week should be able to live with dignity. TIME TO PANIC Dec 2015 #18

I just said you'd be homeless in CA on $12. We need a much higher min. wage in places like LA, NY. SunSeeker Dec 2015 #36

You're right, the problem is we can't get enough Dems, let alone Repugs to agree, TIME TO PANIC Dec 2015 #40

What a condescending post. You actually think people are living there against their Waldorf Dec 2015 #45

this is assuming you can even find a job... 2naSalit Dec 2015 #13

Note that no state's statistics allow a person to have a two bedroom flat working 40 hrs. longship Dec 2015 #14

The rent is too damn high. PowerToThePeople Dec 2015 #17

So, you need to make $14.25/hr Cassiopeia Dec 2015 #22

Mine is more than 30% PowerToThePeople Dec 2015 #24

$15/hr is the bottom. Cassiopeia Dec 2015 #19

Wouldn't you know it... yuiyoshida Dec 2015 #20

Thank you for this post! TIME TO PANIC Dec 2015 #21

Hmm. davidthegnome Dec 2015 #23

Numbers are way off in Florida. NCTraveler Dec 2015 #25

Agree. FLPanhandle Dec 2015 #32

Interesting. cwydro Dec 2015 #28

$15/hr is not good enough pengu Dec 2015 #29

Here in Austin rents are approaching SF levels. hobbit709 Dec 2015 #30

I was just going to say that! Texasgal Dec 2015 #38

This is from Playboy magazine? oberliner Dec 2015 #31

The numbers are from Out of Reach. Uncle Joe Dec 2015 #37

Thank you, Uncle Joe! Octafish Dec 2015 #39

I just can't believe Detroit fell like that yeoman6987 Dec 2015 #52

The city was run like a corporation, political affilation had little to do with it. Rex Dec 2015 #56

Why do you always attack liberals? Kingofalldems Dec 2015 #69

Well this won't bother those that love the status quo. Nothing bothers them. Rex Dec 2015 #41

Back in the 1970s I rented a two bedroom apartment for $125 a month csziggy Dec 2015 #42

The Oregon figure is crazy low if you live in Portland. Lizzie Poppet Dec 2015 #43

Well wages are stagnant and driven down because cheap labor is so readily available. PeteSelman Dec 2015 #44

Immigration is unregulated because it's good for capital. lumberjack_jeff Dec 2015 #46

Agreed. It must be addressed. PeteSelman Dec 2015 #53

Yup. "Merry Christmas" indeed. n/t lumberjack_jeff Dec 2015 #54

Not a shocker in CT bigwillq Dec 2015 #47

Cost of living in Va wayyy too varied for $21.10 to be meaningful Bonx Dec 2015 #57

Same in Oregon bhikkhu Dec 2015 #62

Those figures could very greatly within the states, for example in Ohio the rent doc03 Dec 2015 #59

All these studies skew market realities by using the 40th percentile price whatthehey Dec 2015 #63

Screwy numbers. Igel Dec 2015 #65

Those would be the below 40th percentile homes I mentioned. whatthehey Dec 2015 #70

I make $18.75 in NY Reter Dec 2015 #67

A bit misleading to average the entire state. Old Union Guy Dec 2015 #71

Why would one person need a two-bedroom apartment? oberliner Dec 2015 #72

84% of all residential structures in the U.S. are two bedrooms or more, not to mention Uncle Joe Dec 2015 #81

There are 30+ million adults in the US who are single with no children and live alone oberliner Dec 2015 #82

That leaves 10 million adults with children and the numbers of two bedroom+ residences Uncle Joe Dec 2015 #83

I have not read through the entire thread. Snobblevitch Dec 2015 #73

And we have DU'ers steadfastly opposed to 15. nt. Warren Stupidity Dec 2015 #75

Playboy? newblewtoo Dec 2015 #77

The numbers in the OP come from Out Of Reach. Uncle Joe Dec 2015 #80