For many millennials, capitalism is failing. Ana Kasparian, Hasan Piker, and Grace Baldridge, hosts of The Young Turks, discuss. Tell us what you think in the comment section below. more evidence that renters are just as likely to be struggling as homeowners.
A typical renter in Miami would need to spend nearly 50% of his or her income to rent a one-bedroom apartment, but a typical millennial renter would need to spend 54% of his or her income in that city, according to a new analysis of rental listings by real estate site Trulia. In Los Angeles, millennials pay nearly 39% of their monthly rent versus 34% for the average renter. In New York, they pay as much as the average renter (34%) and pay slightly less than the average renter in San Francisco (33.5% versus for the average renter 37%).
The solution is simple, though maybe not ideal for everyone: In America’s biggest rental markets, a renter can save on average 13% of his or her income by getting a housemate. While splitting an apartment with a roommate will save money, the benefits of sharing a living space vary from city to city, home to home. In Miami, millennials save 19% of their income in a two-bedroom apartment and they can save 14% in Los Angeles and New York, but only 9.5% in Washington, D.C. In all cases, except Miami, they can pay less than 30% of their income on rent by having a roomie.”*
Read more here: Ana Kasparian, Hasan Piker, Grace Baldridge
Cast: Ana Kasparian, Hasan Piker, Grace Baldridge
The Largest Online News Show in the World. Hosted by Cenk Uygur and Ana Kasparian. LIVE STREAMING weekdays 6-8pm ET. Turk (n), 1. Young progressive or insurgent member of an institution, movement, or political party. 2. Young person who rebels against authority or societal expectations. (American Heritage Dictionary)
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