The poster writes. > The definition I've heard of "affordable housing' is 30 percent of income. A $600 apartment, if ALL utilities are included, costs $7200 a year. $7200/.3 is $24,000 a year. $24,000/2080 = $11.50 an hour. Retail employees don't MAKE $11.50 an hour. And that is what the modal employee does. > > If you make $7.50 an hour and IF you have 40 hour/week job, you make $15,600. Doing the rest of the math, it means an "affordable" domicile is $390 a month INCLUDING utilities. > > So, now which of you geniuses is renting for $390/month?
Craig here Beware of rules chiseled on stone tablets issued from Mt. Washington DC. Just because a govt technician or housing advocate says so, doesn't make it true. Think about your first apartment, I'll bet everyone of us paid more then 30%. Then think of your first mortgage. Those payments sure looked big in the beginning. Then you learned how to trim your expenses, earn more money. List members, what are your recollections of your first apt, house, and how much of your pay it consumed? Craig Miller Former Affordable Housing Provider Living in Rogers [EMAIL PROTECTED] TEMPORARY REMINDER: 1. Send all posts in plain-text format. 2. Cut as much of the post you're responding to as possible. ________________________________ Minneapolis Issues Forum - A City-focused Civic Discussion - Mn E-Democracy Post messages to: mailto:[EMAIL PROTECTED] Subscribe, Unsubscribe, Digest, and more: http://e-democracy.org/mpls
