“But what about fancy places?”
They should be the peak of the prices, with everything else falling well below that
There are more homes than homeless people, so let’s make homes more affordable
In the past 50 years, median rent has gone up 20x ($108/mo to $2000/mo) while the minimum wage has only gone up less than 5 times ($1.60ish to $7.25). Back then, you’d need to work 67.5 hours on minimum wage in a month to afford median rent, while today you’d have to work over 250 hours on minimum wage to pay for median rent.
Things need to change. You can’t afford a good meal with $7.25