A respite for the poor makes way for offices
Original post made on Aug 19, 2011
Read the full story here Web Link posted Friday, August 19, 2011, 10:10 AM
on Aug 19, 2011 at 11:38 am
It's only a matter of time before a staggering number of families are driven out of Mountain View. I have a full-time AND a part-time job just to keep my family afloat, and we live in a freak'n mobile home (at nearly $2,000 a month!).
You tell me WHY the average rent for a three bedroom house/apt. is nearly $3,000 in Mountain View?! WHY? Greed, plain and simple.
In 1999 a two bedroom duplex on Sylvan was $1,600 a month. Now it's $2,700. We are economically crippled in 2011 compared to the boom of 1999, so what's with the 70% increase in the cost of housing?
Standard rental requirements are that an applicant must make three times the monthly rent, which means household income must be at minimum $108,000 a year to be able to support a $3,000 rent payment.
There is a very large percentage of families (especially single head of household families) living in our city that doesn't make half that. Where are we supposed to go?
Look at the new housing going up all over this area. The Enclave - priced from the $1,600,000 - Really? I sure wish someone would start building housing for those of us who make $30K to $50K. Or aren't we good enough for you Mountain View??
on Aug 19, 2011 at 1:28 pm
This is prime silicon valley land. I pay almost 1000/month for a 1 bedroom apt. Unless you are a techie, baller or willing to share a place with 5-6 people you will suffer. If you travel a hour away you can rent a 3br house for 800/month. Commuting doesn't seem that bad anymore to be honest.
on Aug 19, 2011 at 2:30 pm
You wrote: "You tell me WHY the average rent for a three bedroom house/apt. is nearly $3,000 in Mountain View?! WHY?"
Simple: Supply & Demand. Basic Economic Theory 101.
Plenty of people willing to pay the price = sustainable high levels of pricing.