As cities become more densely populated with people and companies, housing becomes tight and salaries have not had meaningful growth since 1978.
Ben Hecht, CEO of Living Cities, explains that the income problem is "pretty basic," as many Americans realize that the housing market is escalating in value by about six percent each year, while, despite any raises, wage growth is not keeping pace. Writing for Fast Company, Eillie Anzilotti lays this concern at the feet of employers, recommending methods like employer-assisted housing for addressing decades-long, fermenting wage stagnation, as so many full-time employees are priced out of the communities where they work.
Ray’s circumstances sum up a pernicious feature of employment in the U.S.: Having a job does not guarantee that you will be able to have a life, or a stable, affordable place to live. This is a departure from the era after World War II, when people (mostly men) returning from the war were entitled to housing loans and free college tuition that both alleviated the pressures of debt and helped them establish a vehicle for which to build wealth: owning an appreciating home.
