What are the requirements in 2017?
|Source: ZeroHedge via The Automatic Earth|
Which is why half of all people have a family income less than the (2015) median of $56,516.
What kind of a madhouse country when you need to have the kind of wage distribution close to the average that people like Barbara Ehrenreich found was found to exist in places like Key West FL (yes, I know: an expensive outlier), Portland, ME and Minneapolis-St Paul, MN. The rental rates affordable enough for those making minimum wage ($7.25/hr for two wage earners per household) exist only in the markets at the low end of the scale below for average market rates, measured county by county:
You see, the cheapest is about half the national average and a lot are bunched right around this average of $1,540 a month. Half the rest are distributed in-between and the remainder above the average, up to about $4,800 a month (San Francisco). Obviously the more expensive markets have a severe affordability problem and the less expensive markets probably have a jobs shortage.
We need to stop the inflation in property sales and rental prices.