http://www.lifeofaninvestor.com/real-estate/where-do-they-all-go/ My journey through stock, real estate and life investing Thu, 02 Sep 2010 20:29:40 -0600 http://wordpress.org/?v=2.8.6 hourly 1 http://www.lifeofaninvestor.com/real-estate/where-do-they-all-go/comment-page-1/#comment-172 Chameleon Thu, 05 Feb 2009 03:38:02 +0000 http://lifeofaninvestor.com/?p=60#comment-172 Rental prices spun out of control here in MA about 10 years ago. In 1998, a college grad working a 40 hour a week minimum wage job could afford a 1 BR apartment alone. By 2001, that was impossible. My rent went from $575 a month in 1999 to $800 a month in 2000 to $1150 a month in 2003. When that happens, people bunk in with roommates, sleep on friends' couches, go to homeless shelters for as long as they're allowed, make the rounds of friends' and family's living room floors, sleep in their cars, sleep at the office - at one point, we were putting up two other families. I had to let my ex move back in because neither of us could afford an apartment on our own. The current situation has been building for a very long time for a very large chunk of the country. Rental prices spun out of control here in MA about 10 years ago. In 1998, a college grad working a 40 hour a week minimum wage job could afford a 1 BR apartment alone. By 2001, that was impossible. My rent went from $575 a month in 1999 to $800 a month in 2000 to $1150 a month in 2003. When that happens, people bunk in with roommates, sleep on friends’ couches, go to homeless shelters for as long as they’re allowed, make the rounds of friends’ and family’s living room floors, sleep in their cars, sleep at the office – at one point, we were putting up two other families. I had to let my ex move back in because neither of us could afford an apartment on our own. The current situation has been building for a very long time for a very large chunk of the country.

]]> http://www.lifeofaninvestor.com/real-estate/where-do-they-all-go/comment-page-1/#comment-166 Chris Sumpter Fri, 23 Jan 2009 06:02:52 +0000 http://lifeofaninvestor.com/?p=60#comment-166 That is an intriguing correllation. Let me know if you discover the connection. That is an intriguing correllation. Let me know if you discover the connection.

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