Monday, May 9, 2011

This just in: San Francisco costs too much. So does the rest of the U.S.

The annual "Out of Reach" report has no chance of living down its name. This is the National Low Income Housing Coalition's estimate (press release/summary here) of what a person has to earn, town by town, to be paying the once-upon-a-time-normal 30% of income to rent a two-bedroom apartment. (Explanation, kind of, here.) It says the San Francisco "housing wage," highest in the country, is $35.23 per hour.

Something wrong here.

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