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Distress SignalsLOW-INCOME WORKERS don't make enough to pay for basic expenses. A bare-bones budget for a single parent with two children in the Valley is $28,000 a year, or $15 an hour. But Valley janitors, for example, make only $8.40 an hour. HOUSING is scarce because job growth is outstripping housing starts. Since 1992, the Valley has added 125,000 jobs, but only 26,000 new housing units. The median price of a home hit $319,000 in June, up 14% over a year ago. Apartment rents shot up 20% last year, while vacancy rates are a low 1.4% today. BUSINESSES are having trouble finding space to grow. Industrial real estate vacancy rates are now less than 3%.
TRAFFIC is getting worse. In 1995, following a three-year decline, 15,000 hours were spent in freeway traffic delays during the average
workday.
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Updated Aug. 7, 1997 by bwwebmaster
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