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View Diary: Housing Secretary: “the worst rental affordability crisis that this country has ever known" (301 comments)

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  •  When rents spike, below average rents go up. (7+ / 0-)

    And you can't find a cheap apartment in those conditions. The tenants will pay their rent in that case.

    To get the $600 apartment (and all the cucarachas you want!) you will have to work 55.5 hours on a $15.00 hour job (using a tax rate of 28%). 53 hours for a tax rate of 25%.

    Some people are working 80 hours to pay for their housing (hope they have full time work!) (half their take home pay goes to rent).

    What the landlords will get is trashed properties. We are headed into a long dark age. It's gonna suck.

    I like regulated (not free) markets. I would have thought that anyone paying attention over the last few years would be of the same opinion.

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