Rents and housing prices unaffordable to middle class in Los Angeles: The typical LA renter needs to earn $33 an hour just to afford a basic apartment.

Dr. Housing Bubble reports:

Last year there was a report highlighting that LA and Orange County ranked number one in being the bubbliest housing markets in the US. The report essentially found that people in the area lagged in income relative to housing values compared to folks in New York or San Francisco and most in SoCal basically funneled a large portion of their net income into housing. LA and OC are also expensive to rent in. An article caught my eye stating that that the regular Angelino needed to make $33 an hour just to rent a basic apartment without eating Purina dog chow every night.

That's $68,640 a year . Blue America: the land of inequality and the meager lifestyle for many.