However, according to the Transport and Housing Bureau, the average living space per head is 12.9 sq. metres in 2013, much smaller than other Asian cities like Singapore (25 square metres per head). Many Hong Kongers are living in cramped con ditions. This is mainly due to high property prices and skyrocketing rents, and the large wealth gap in the society. According to the World Class index by Savills, Hong Kong has the highest real estate prices in the world since 2005.
Most people are in debt, in late 2005 “wage growth was shortchanged because 46 percent of the growth of total income in the corporate sector was distributed as corporate profits, far more than 20 percent in previous periods.”(24) Household income had fallen five years in a row and was 4 percent lower. The average wages of Americans are low. The growth of the American population is expanding very rapidly; the job count compared to population growth is almost unrealistic. Only one point nine percent more jobs have come up since the beginning of the last recession. The unemployment rate is four point six percent That means that a lot of people do not have jobs; the percent of people that have a job was one point three percent, So that means that more people are not working than people with a job.
Population growth during the 20th century was notably rapid. In 1994, the total world population was estimated at about 5.6 billion people. It increased nearly 4 billion people during the 20th century. The most significant world trend shows that death rates are currently decreasing due to recent technology, allowing people to live longer and better. However, the birth rates are increasing in poor countries, and decreasing in wealthy nations, causing the population to increase.
The San Francisco Business Time posted an article stating that San Francisco is only building 2000 housing units annually, which is estimated to be less than half of the units needed going forward. While there are new homes being built in the city, most are luxury homes that only the wealthy can afford. Since demand has come to a point where high-end housing is not satisfied by new construction, demand flows onto existing supply, putting pressure on buildings to spike prices. Strict building regulations are also an issue faced by San Francisco, and it prevents the supply of housing from reaching the demand for housing. The articles I chose discusses how the imbalance of housing markets may result in negative long term affects on innovation hubs like San Francisco.
Why are low wage workers paid so little for what they do, are there jobs easy to do and useless to soc... ... middle of paper ... ...any people, they get so little raise no matter how hard they work. A lot of low wage workers can’t support their families, they need to work over time or even work seven days a week. So many low wage workers work two or three jobs just to scratch a living and support their families. Big businesses don’t consider helping their hard working employees by giving them a raise, because so many low wage workers are afraid to speak they are afraid from losing their jobs. I think that the best solution for this problem is to pass a law that require all employers to increase their wages every year according to the profits they make.
The biggest issue with homelessness is affordable housing, people have a hard time paying bills when they do not make enough money or rent/mortgage is increasing. Most people make minimum wage or an average amount that is much less than the hourly wage expected for renters/owners. “The National Low Income Housing Coalition estimates that the 2013 Housing Wage is $18.79, exceeding the $14.32 hourly wage earned by the average renter by almost $4.50 an hour, and greatly exceeding wages earned by low income renter households” (National
During the same year the total cost of public hospitals, public schools, and jails for the whole state accumulated to $817 million, which means that the majority of undocumented immigrants were contributing to help pay for the resources of public services during that year in North Carolina. However, other states such as California are actually feeling the burden because the influx of undocumented immigrants in California is much higher than North Carolina and there are not as many undocumented immigrants paying taxes as there are in North Carolina
As home prices rise and the economy recovers, fewer borrowers are falling behind on their mortgages, or at least on their primary mortgages. During the housing boom, millions of Americans took advantage of equity gains by pulling money out of their homes through home equity lines of credit (HELOCs). These were largely interest-only loans for 10 years, but that decade is now up for some and coming up for many more. Now, as these loans enter their so-called amortization period--the time when borrowers must start paying down the principal--a growing number can't. "In the aggregate, the home equity market is experiencing lower delinquencies," said Herb Blecher of Lender Processing Services.
Even with the 1996 increase to $5.15 an hour the buying power of the minimum wage is still 30 percent below its peak in 1968. This is true despite the fact the economy was about fifty percent more productive than in 1968. A minimum wage that had kept pace with productivity gains would be roughly $11.20 today (Pollin and Luce, 58). In fact, in 2003 the poverty rate rose from 12.1 to 12.5 percent leaving 35.9 million people at or below the poverty line of $18,660 for a family of four (U.S. Census Bureau). These 35.9 million people trudge through their manual labor occupations day in and day out only to see the (few) dollars they earn slowly depreciate in value.
Private colleges increased their tuition by an average of 3.9% in 2012 to 1013, the smallest rise in four decades, according to the National Association of Independent Colleges and Universities. The most expensive university, in terms of tuition and fees alone, is currently Columbia University in New York, at $47,246, according to the US News and World Report. One cause of increased tuition is the reduction of state and federal appropriations to state colleges, causing the institutions to shift the cost over to students in the form of higher tuition. State support for public colleges and universities has fallen by about 26% per full time student since the early 1990s. In 2011 American public universities took in more revenue from tuition than state funding.