Wednesday, December 09, 2015

Too Damn High

The rent is getting even damn higher
New Orleans residents' wages stagnated while their rents increased by nearly 12 percent between 2011 and 2014, the sixth-biggest increase in the gap between rent and income in the U.S., according to a new study.

The website SmartAsset.com examined U.S. Census income data and rental listings from RentJungle.com to determine where the difference between what people are paid and what they pay in rent is growing most.

New Orleans workers saw median income go up less than $500 from 2011 through 2014, while fair market rents increased nearly 12 percent. The city "is rapidly becoming one of the least affordable for residents," the report says.
Our nearly decade long experiment with demolishing public housing and building lots of nice things for rich people isn't working out so great for the not-rich. Wonder if that will even matter to anyone.

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