The article about Anthony and Becky mentioned that the vacancy rate for apartments in Long Beach has risen. In 2007 the vacancy rate was just below 3% and is now 5.3%. Mellen states: "Housing and Urban Development sets the fair market rate in the Los Angeles and Long Beach area at $1,137. for a one-bedroom apartment." Fair?
The article also states that over half of Long Beach renters pay 30% or more for housing. 75% of my income pays rent. I do not have gas or the cost would be higher. My apartment is a typical Single ~ old building built for Navy personal, the built-in Ice Box cabinets still exist in most of the units; most of the Murphy beds are gone.
A 72-year-old man recently wrote to the P-T complaining about reductions to his Social Security benefits. He said the reason was because he earned $100,000. the year prior. If he were paying 75% of his income for housing, that would leave him about $25,000. to live on, which, for me, is doable. While it is great that a 72-year-old had a job, seems to me with unemployment so high, it would be better if he let a young person have it ~ especially at that income level.
A two income household, such as a couple, are able to afford one bedroom apartments at Long Beach's going rate ~ even after taxes and other payroll deductions decrease their spendable income. As far as rents are concerned, no one said life has to be fair. Yet if the City and its citizens want others off the streets, rent control is a good place to start. That 75% (or 30%) goes to one person (or firm), whereas paying less rent means more money to others, such as the grocer.
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