I need to correct one number below. Each person sharing the $600 apartment need make only $5.75/hour, not $6.75/hour as I wrote below. I need to sharpen my own pencil a little bit.
David - please forgive me for my 3rd post today -- I felt I had to correct my error ASAP. Mark Anderson Bancroft ----- Original Message ----- From: "Anderson & Turpin" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Monday, March 03, 2003 1:04 PM Subject: Re: [Mpls] Realism in Housing: RT and Police-community Relations > Jim Mork wrote: > > 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? > > > Mark Anderson reply: > Jim -- the point you missed is that we were discussing full-time single > people, and so the apartment needs to be shared with another person. Then > each person only need make $6.75/hour, even based on your dubious maximum of > 30% for housing. Back when I was poor, I never even considered renting an > apartment by myself, because I knew I couldn't afford it. > > Concerning the first places I rented as an adult: > As I recall, when I was a student in the mid '70's, I usually found a place > that cost a bit less than $100/month. Counting work and my social security > payments (because my father died), I was probably making about $5000/year. > So I was paying less than 30% on housing. Of course I was paying tuition > too, and saving money when I wasn't between jobs. > > On rooming houses: > I sure think the prohibition against more than 3 unrelated persons in a > residence should be repealed. I think it's basically an anti-poor person > law pushed by neighbors who figured that such houses would be party houses. > One of the down sides of neighborhood empowerment. > > Mark Anderson > Bancroft > 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
