> median_rent
I am wondering if it is low because people simply downsizing..
I am wondering if it is low because people simply downsizing..
I didn't say I think this happened, I just gave example with "if", in reality change may be not as extreme, but even say 20% change on average meaning that certain slice of population was downsizing because was affected dramatically.
I think these stats are not even and can be heavily sliced by region/social slice, e.g. in silicon valley rent definitely raised 2-3 times in last 15 years, but blue color workers didn't receive equal raise in wages.
Source? In the last 15 years, SF median rent went up 78% and SF minimum wage went up 93% [1] [2], so it seems quite likely blue color wages outpaced inflation.
I notice a worrying trend where people invent negative economic stats instead of looking at the real numbers [3].
[1] https://fred.stlouisfed.org/series/CUURA422SEHA
[2] https://www.sf.gov/sites/default/files/2023-02/Historical%20...
> SF median rent
your graph shows not SF (which is actually not silicon valley) but SF-Oakland metropolitan area. SF rent likely raised more than that.
> SF minimum wage went up 93%
Min wage is an outlier, they couldn't afford rent then and now.
Another factor is taxes, while wages increased, wages after taxes increased slower, because pushed income to another bracket.