Crippling home prices, traffic congestion, high taxes and the rising cost of living have all contributed to an increase in “net outward migration” from California, particularly in the Bay Area.
Select San Diegans will receive federal government housing subsidies along with 42-inch HDTVs, cable, Internet and on-site services upon taking up residence at the newly constructed $50 million dollar Alpha Square low-income housing project in the city’s trendy East Village neighborhood.
Hipsters who cannot afford high San Francisco rent have a new option: $1,800 per month for a spot on a bunk bed with a stranger in a home with 30 other people in what is being called “co-creative” housing.
The Veterans Administration, with a 20-year lease etched into stone, will shell out more than $68 million over 20 years for a Wilmington, North Carolina facility it will not own, renting it instead.
San Francisco, home to a plentitude of left-wing ideologists contemptuous of one percenters, commands a hefty average median rent of $4,225 a month, prompting one to suspect that the enemy must lie within.
What are the worst three cities for renters in America? Surprise. Manhattan does not make the cut. According to Forbes, they are San Francisco, Oakland and San Jose–based on price-per-listing, market availability, median income and comparing the price of a mortgage versus that of renting.
Two Texas cities — Austin and Houston — are among the top ten metropolitan areas in the United States that had the highest percentage increases in rental prices last year. San Francisco and San Jose, California were ranked first and second, both with median rent prices of over $3,000 per month. Austin was ranked sixth and Houston eighth.
