RE: LeoThread 2025-01-19 22:42
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A new report shows that full-time workers across the U.S. need to earn more than $23 per hour to afford a basic one-bedroom apartment.
The National Low Income Housing Coalition found that to rent a one- or two-bedroom apartment without paying more than 30% of their income, workers need higher wages. To afford a one-bedroom, workers must earn $23.67 an hour. For a two-bedroom, the hourly rate jumps to $28.58.
The report also revealed that no state allows minimum wage workers to afford a modest two-bedroom rental while working 40 hours a week. A minimum wage worker would need to work about 104 hours a week to cover the cost. For a one-bedroom, they'd have to work 86 hours a week. Half of workers don't earn enough in a 40-hour work week to afford a one-bedroom.
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successaddictives A new report shows that full-time workers across the U.S. need to earn more than $23 per hour to afford a
"Stable, affordable homes are essential for basic well-being, and no one should fear losing their home, said Diane Yentel, President and CEO of NLIHC. "Yet many low-income renters are facing increasing housing instability as rents rise and pandemic-era assistance programs end."
Rents have increased significantly in recent years due to a housing shortage worsened by the pandemic and inflation. Although rents are starting to stabilize in some areas, wages still haven't kept up with rent increases. From 2001 to 2021, rents rose by 17.9%, while wages only grew by 3.2%.
What a sad situation
No wonder some of my American friends keep complaining about having difficulty paying house rents
I bought my house in 2021 so my mortgage payment is affordable but if I had to move today I wouldn't be able to afford what I have now
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Try to increase one's income. Which can be hard for variety of reason. Lower income are crushed around the world by the housing situation.
So many Americans cannot afford a good life despite working hard ?
If this is true in all 50 states, imagine what the numbers are like in high-tax states such as New York and California, where the cost of living is simply out of control.
Finding a place to live is becoming increasingly expensive. The same thing has been happening in Brazil for years.
It's crazy how people will work their ass out yet nothing good to show for it. , even to pay bills becomes a problem
This is one of the reasons why the poverty rate is not ready to go down
I still complained about the issue of housing to my wife and I realized that house rents and bills Takes 80% of my income .
And when future historians begin to ponder how Trump so decisively won 2024 election, this might be a good answer.