How are people able to afford such high rents in some cities like Los Angeles ?

Question

If they are not making a whole lot of money, how can the people there able to afford such high rents?? Don't you think that the rents for some cities like Los Angeles are just way too high?

Housing just seems to be very expensive here in the U.S. in places where there are many jobs. But in places where there aren't many jobs, the housing is cheaper and why is that?? I think affordable housing is especially difficult to find and many people also seem to take things for granted and don't seem to treasure those affordable ones.. Why is that??

Answer 1

It's called the law of supply and demand.

Answer 2

I've wondered the same thing, prices are really high like in San francisco, miami and all the more desirable cities, even people with a decent job can't afford it. The rents are really low in some places like Lansing, Michigan, it's just that not a lot of people want to live there. I guess there are enough really rich people who can afford it that it drives the price up.