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Who can afford to live in SLO?

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Some or most of your neighbors are students. Please take time to talk to them about their living situation. It is not uncommon for eight or nine students to cram into a three-bedroom house in San Luis Obispo. Some students live in garages, attics, carports, or anterooms. Many are paying in excess of $800 of rent—to share a bedroom.

When one brings up the question of diversity in the local university, one can only look to the economics of the living situation in the city. Who can afford to live in SLO? Because of the hyper-inflation of rents, real estate has been gobbled up with the sole intent to profit. A mortgage investment of $3,000 can be doubled by charging six people $1,000 a month to live in the residence. The negative externality of that free market soaks these students and their families.

Every available inch of our "happiest place" is being gobbled up by avarice from near and far. One only needs to look at the behemoth at Foothill and Chorro streets to see the monster of greed in action, wringing out the last drops of happiness.

Families are being squeezed out. You can see the harried moms and dads each day, crawling along a crowded Highway 101, driving to and from communities that for the time being are more affordable.

Paul Cappellano

San Luis Obispo


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