I meant to post this up last week, but just never got around to it. The Bowling discussion was more entertaining. Anyway, last week’s Economist had an article, The roof that costs too much on housing costs in major U.S. cities. No interesting quote, but some interesting statistics. The most amazing to me is that between 1997 and 2001, home prices increased over 55% in San Francisco while income only increased just over 20%. Boston was slightly better, seeing a nearly 45% increase in home prices vs. just under 20% income growth.

While I want to point at this article and say, “See, this is why my rent sucks,” the fact of the matter is that people like me (young, high earners) are really the cause of this problem, since we were the main beneficiaries of the recent boom. I’m not a victim, I’m part of the cause.