Phoenix, the most unaffordable "affordable" place to live (middle-class, renting)

[phetaroi]

Originally Posted by jaredC

Granted, I cannot say much on the affordability scale in comparison with other cities similar to Phoenix, as I have lived the majority of my life here. But, as someone who has been living here for nearly 30 years, I can weigh in on how this city is starting to become unaffordable, and yet, we are lauded as a destination that offers inexpensive housing and cost of living.

It is actually a bit worrisome. One can actually have a very good income and yet struggle to find affordable housing. Ten years ago if you made $50K annually, you could go a long way. Buy a house, have a nice car and still have enough money left over for the finer things in life. But in today's Phoenix, $50K guarantees NOTHING. Forget about buying that house, you will be lucky to locate an apartment with 2 bedrooms in a half decent area for under $1500 a month.

It is quite depressing really. Just for the heck of it, I decided to look up some old apartments I lived at ten years ago.

The Renaissance Apartments on 43rd ave and Thunderbird
-I lived on the third floor. One bedroom, and paid around $700-$750/month.
Today that very same floor plan is going for nearly double the price! I was shocked to see it going for
nearly $1400!

Newport Landing, which is now Paseo Park on 52nd ave and Thunderbird
-I lived on the second floor. One bedroom. Around 11 years ago I was paying $600/month.
Today they are going for around $1000. Same floor plan.


All I know, is that I wish I had jumped at the opportunity to buy a house before they started inflating housing costs nearly double what they were two years ago.

Those are the prices I paid for apartment in suburban Washington, DC back in the 1970s and 1980s...nearly half a century ago.

[Maroon197]

Originally Posted by phetaroi

Those are the prices I paid for apartment in suburban Washington, DC back in the 1970s and 1980s...nearly half a century ago.

Wow you were getting royally, criminally ripped off then. I know someone who had a 1 br in Georgetown for around $1500 just 10 years ago.

[bobsell]

Originally Posted by Valley Native

Minimum wage is intended for low skilled jobs such as fast food. A person should never expect to buy a house, own a car, and raise a family on a minimum wage income.

So you're saying people deserve to starve?

Also, thanks to the catch-22, people are stuck in these roles - but let me guess - you think the catch-22 does not exist.

[john3232]

Originally Posted by jaredC

Exactly. It is being normalized that couples are having to live with other couples, and buy a house, simply because what was affordable a couple years ago is no longer, and thus, people are cohabitating and purchasing houses with multiple people. I guess this is the new American Dream. I was watching a video blog of a wealthy realtor investor that was saying the American Dream no longer means buying a home, but instead, the American Dream will be rented to them.

All depends on where you choose to live. In S.F. for example some couples buy a two-flat together and then share the cost of building maintenance.

Like it or not the Phoenix metro has become more desirable in recent years. Not sure where home prices will ultimately end up but I doubt we'll see much drop in rents.

For many moving into the Phx area the cost of housing is affordable.

[jaredC]

Originally Posted by Valley Native

I think most everybody would agree with this, but the thread focuses mostly on the financial aspect. The first thing I ask is: why do you think it's your right to bring a child into the world if you're struggling with expenses? I suppose you think the government/taxpayers should be obligated to subsidize your life choices.



Minimum wage is intended for low skilled jobs such as fast food. A person should never expect to buy a house, own a car, and raise a family on a minimum wage income. Even with this fact, the minimum wage in AZ has been increasing at a faster rate than many "middle" incomes. This state actually has one of the higher minimum wages in the nation, but the average income is still on the low side ($49,823). Personally, I'd be more concerned about the middle class than I would those making minimum wage ... because the majority of the minimum wage earners are high school & college students working entry level jobs at places like Starbucks or Burger King.

Also, when my wife and I had our daughter, 7 years ago, we were in a good financial situation. But that's the thing though, everybody's situation changes, and then you got idiots like yourself here, shaming people, as if everything in life is a set path and nothing devastating can possibly happen in one's life to alter their financial future.

[jaredC]

Originally Posted by bobsell

So you're saying people deserve to starve?

Also, thanks to the catch-22, people are stuck in these roles - but let me guess - you think the catch-22 does not exist.

That is exactly what Native is saying. he is the perfect example of a person that has received his and now looks down upon those and say's "Not for you". What a sad human being.

[jaredC]

Originally Posted by Tall Traveler

I compared the cost of living between Phoenix and the other 10 largest cities in the USA and only 2 of them, San Antonio and Houston, were cheaper to live in than Phoenix and Houston only slightly. So even though the cost of living has sharply risen in Phoenix, it's still relatively cheap to live in for a large American city. San Antonio would be the largest city noticeably cheaper than Phoenix.

I considered Phoenix a huge bargain 10 years ago, now I consider it a pretty good value but no bargain.

Oh absolutely! Our household income is slightly above $100k annually. That would have gotten us FAR 5 years ago. Today though? $100k is like making $50k today.

[jaredC]

Originally Posted by NearFantastica

Phoenix is approaching Los Angeles level pricing, makes no sense to live in Phoenix when you can live in LA for the same price and have access to much better weather, amenities, entertainment, beaches etc

Or even San Diego! We are getting to that level, and yet we don't have the beaches or the weather like they do.

[jaredC]

Originally Posted by NearFantastica

This is false and blatant right wing propaganda. Minimum wage is intended to be a living wage to provide people with a good living, more than a bare subsistence level. This was FDR's vision in 1933. Wages are stagnant and not rising to keep up with inflation nor cost of living, which is why this country is in the mess that its in.

YES!! It was literally written like this too! But you got people on here wanting to alter the very definition of what Minimum Wage is supposed to be, all so that they can shame others for it.

[john3232]

Originally Posted by jaredC

Also, when my wife and I had our daughter, 7 years ago, we were in a good financial situation. But that's the thing though, everybody's situation changes, and then you got idiots like yourself here, shaming people, as if everything in life is a set path and nothing devastating can possibly happen in one's life to alter their financial future.

I understand moving with esp. a child in school is difficult. And yes... events can happen in life which are out of our control.

Nevertheless, the question becomes what are you going to do? If you can't afford to buy or rent in the Phx metro perhaps it's time to consider another part of the country.

Supply and demand dictates what I can charge for a rental. As long as people continue to move here in droves esp. from wealthier areas I suspect rents won't drop much. Assuming they drop at all.