From 1991 to 1995, one of the most popular children's programs on PBS was called "Where in the World Is Carmen Sandiego?"
The show, based on the "Carmen Sandiego" computer game series created by Brøderbund Software, helped children learn geography by following Carmen and her henchmen around the world. But no one in Carmen's world had to worry about the cost of living, a steady paycheck or how much rental units cost in any location.
Fast forward to 2016, where renters are finding that their monthly rent can cost a significant portion of their paychecks, depending on where they live. According to the Global Cities Business Alliance, in Boston, a worker on an average wage will have to pay 29.8% of earnings on rental costs every month. Even though housing in Mexico City is far cheaper, income levels are also much lower, the report notes, with workers earning an average salary paying 58% of it towards their accommodations.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
