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From Bloomberg: Apartment owners at Manhattan’s 15 Central Park West, home to Goldman Sachs Group Inc. (GS) Chief Executive Officer Lloyd Blankfein and the musician Sting, are seeking to double their investments after the complex shattered price records and sparked a wave of ultra-luxury listings. Four condos have hit the market since May with asking prices at an average 192 percent premium over what owners paid in 2007 and 2008, according to [...] The above graphic exploded on Facebook this weekend. It shows how many minimum wage hours a worker needs to work in order to be able to afford a two-bedroom unit at “Fair Market Rent” in any given state. The FMR is a figure determined by the U.S. Department of Housing and Urban Development (HUD). http://wepartypatriots.com/wp/2012/05/29/wow-in-no-state-is-a-40-hour-minimum-wage-work-week-enough-to-afford-a-two-bedroom-apartment/
I’m living proof of the title. I live in Dallas, Texas and work 40 hours at minimum wage [...] By Danielsaniski In_no_American_state/commonwealth is it possible to work a 40 hour per week minimum wage job and afford a two-bedroom unit at fair market rate. The closest is Puerto Rico at 55 minimum wage hours, while the highest is Hawaii at 175 hours. A very interesting map. –From The National Low Income Housing Coalition https://data360.wordpress.com/2012/03/16/hours-at-minimum-wage-needed-to-afford-rent/ |
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