Friday, January 11, 2008

You Don't Say

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L.A. is the country's least affordable housing market

according to the National Association of Home Builders & Wells Fargo's Housing Opportunity Index, which measures the ability of the median income-earning household to own a home. Throw into the mix the region's high rate of foreclosures and subprime resets, and it's easy to see why there is a huge population of renters. They can expect monthly payments to rise 4.8% this year, thanks in part to a tight 3.7% vacancy rate.


Electric Mayhem said...

Yup, 60% of this town rents. I think it might be the highest in the country. I refuse to move to Monrovia or whereevertheshit, so a house is a long ways away.

Zach said...

Except for San Fran, where more than 65% of households rent. And something like a third of renters spend 50% or more of their paychecks on rent. Nutso.
Thanks to rent control, I may never move.
...Unless the Big One scares everyone away so I can afford a fixer-upper. Or, you know, if I win the lottery.

Anyway, I feel your pain.

Hey, speaking of something completely unrelated, wanna go to Iceland with me in the spring?

Electric Mayhem said...

Dru, do you work for the g'damn SF Chamber of Commerce?

Adams said...

I would love to go to Iceland in the spring, Bruns! Unfortunately, I don't even know how I'm going to afford to go Von's in the spring!

Enjoy your fucking awesome life, you fucking travelling rock star fucking fuck I hate being unemployed.

thptpth said...

I see how it is...Iceland in the Spring, Kilimanjaro (which is NOT in Japan) in the fall.

As to housing, Broc, just think about the alternative: you could get a hell of a lot of house for very little money in Wyoming. But then you'd have to live in Wyoming. Again.