This is a syndicated repost courtesy of Snakehole Lounge- Online Course Notes for Financial Markets. To view original, click here. Reposted with permission.
San Francisco, where Tony Bennet left his heart, is the most expensive rental market in the nation for both 1 and 2 bedroom dwellings. New York City is second and Silicon Valley capital San Jose is third. And the home of US Congress and “affordable housing mission” entities Fannie Mae, Freddie Mac and HUD (US Department of Housing and Urban Development) is fifth in terms of most expensive 1 and 2 unit dwellings.
Among the “cheapest” dwelling cites are Fort Wayne Indiana, Akron Ohio, Detroit, and Wichita Kansas.
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Los Angeles, home of Jeffrey Lebowski and his one bedroom bungalow, is in sixth place.
Rents are unaffordable despite ten years of Fed’s zero-interest rate policies (ZIRP) and Quantitative Easing (QE) programs. But interest rates are rising now that there is a new President.
A typical Washington DC renter.
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