Thanks to The Fed-inspired fast-money flood driving up asset prices, owning or even renting a home has become unaffordable to most. Working a 40-hour-week, a single-earner in D.C. would need to be paid a $28.25 minimum wage for afford to rent a home… and if you live in California (and earn minimum wage), you will need to work 18.6 hours-a-day, 7 days-a-week to afford rent. Thank you Ben and Janet…
Of course, if you rent, you have flexibility… perhaps move to Montana instead of earning minimum wage in California or D.C.
via Zero Hedge http://ift.tt/WaFzCG Tyler Durden