Where in California have wages trailed rent hikes the most?
“How expensive?” tracks measurements of California’s totally unaffordable housing market.
The pain: Rent hikes outpaced pay raises in 44 of 50 big US metropolitan areas during the past four years – and in four of six metros from California in this study.
The source: My trusty spreadsheet reviewed Zillow’s analysis of the growth in rents vs. increases in average hourly earnings between 2019 and 2023 across the nation.
The pinch
The pandemic economy was not kind to renters.
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