[quote=ltsdd]Here’s a data point. Rent for a studio in a SD community where I grew up is renting for $900+/month. That same studio rented for $75/month 34 years ago. Today’s minimum wage – $9/hour, 34 years ago $3.10/hour.

Let me know if you seriously believe that living standards has gone up for those earning minimum wages.[/quote]

That can’t be correct, unless the renters were in the home forever by 1980 and the rent didn’t come close to keeping up with the market.

I rented a studio that went for $360 in 1987 and was going for a bit under $800 in 2010.