The San Francisco, Los Angeles, Seattle, Washington DC-Baltimore, New York and Boston markets are not the only places in the United States.
There are lots of places in this country where you can get a 1 bedroom apartment for $500/month, or a 2,000 square foot house for $100k.
Meanwhile, wage growth in these high-cost coastal markets has kept pace with the housing cost increases, which is part and parcel with housing cost growths in these regions.
There's no doubt that there's been significant housing inflation in this country, but someone in Chicago making six figures is not paying 50% of their income on rent.
The San Francisco, Los Angeles, Seattle, Washington DC-Baltimore, New York and Boston markets are not the only places in the United States.
There are lots of places in this country where you can get a 1 bedroom apartment for $500/month, or a 2,000 square foot house for $100k.
Meanwhile, wage growth in these high-cost coastal markets has kept pace with the housing cost increases, which is part and parcel with housing cost growths in these regions.
There's no doubt that there's been significant housing inflation in this country, but someone in Chicago making six figures is not paying 50% of their income on rent.