Why Rent Is Rising In The U.S.

Fresh numbers from the fall of 2021 suggest that rents will increase at a rapid pace in the coming years. That's a problem for Americans; many spend 30% or more of their income on rent. A decade-long slowdown in house building is coming to a close, which could help renters. But the new developments in construction are generally for high-end and luxury apartment units. Experts say the market conditions are pushing people further away from their jobs and weighing on the economy writ large.
Market indicators suggest that rent hikes are coming in 2022.
Average rents for a one-bedroom apartment in the booming suburbs of Phoenix, Arizona, have more than doubled year over year, according to data from Apartment Guide. Meanwhile, rents in Manhattan have reached fresh records as life returns to the cities, according to Zumper.
The problems aren’t confined to the usual suspects, however. Rents for single-family homes across the country jumped more than 9% on average in August 2021 from the prior year, according to a report from the analytics firm CoreLogic.
Rents are moving fastest in the buzzy enclaves across the South and West. For Maria Arredondo, a teacher based in Austin, Texas, a sudden rent hike of nearly $400 forced her to make a move.
“If I had signed the lease ... it would be taking a lot of my savings. And so I decided to move to a new building, losing about 150 square feet,” she told CNBC.
Mark Zandi of Moody’s Analytics said the strains on the housing construction market were building well before the pandemic took hold in the states. “There’s a lot of evidence that the lack of housing closer to where the demand is and urban cores is having a meaningful negative consequence on long-term economic growth.“
Generous monetary and fiscal policies have juiced demand for goods and services coming out of the pandemic. All that extra money sloshing around the economy is bubbling up into the rent.
The fresh demand is giving investors a reason to jump into the market. Experts say that’s boosting desperately needed supply. But there’s a catch: The homes being built are priced into the high end of the market. As a result, the evidence suggests that renters will be paying more for shelter this decade.
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Why Rent Is Rising In The U.S.

[@tahirisaid2693]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[@GeralynWinnifeld]

With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.

[@chriswalter92]

With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions. Consider a similar approach.

[@JalenBooekr]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@chriswalter92]

Angela Lynn Schilling is the Iicensed coach l use. Just research the name. You'd find necessary detaiIs to work with a correspondence to set up an appointment.

[@JalenBooekr]

I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.

[@abbe1abbe156]

I wish they would also talk about corporations like Zillow buying up the houses, outbiding ordinary people who just want homes for their families, then hiking up the price to exorbitant amounts. They should also talk about hedge funds going into the landlord buildings, hiking up rents and evicting people.

[@Smoove_J]

This comment is so underrated. Looking through Zillow you can see in the sale history how they take a reasonable price and double it. People like me get priced out and are forced to rent. You can’t win.

[@jonnym4670]

@@Smoove_J the only way to is build your own but the state makes it very hard and costly and if it wasnt i am sure they would he doing the same thing with land they are doing to houses

[@jonnym4670]

@@Smoove_J hell even cheap things like moblie homes you have to have a speical license to move cost 30 40 grand just to move it around the city people given away the older ones to anyone who can move it off the property

[@lukefrance9558]

Yea but that’s what Americans like, and want.

[@wyganter]

Zillow exited the house-buying business

[@bunnyfernwood]

We also need to talk about how paying all this rent doesn't even help our credit scores or have any bearing toward getting a home loan! Society runs on scams to keep poor people struggling forever.

[@blacklyfe5543]

I just realized that

[@Umm-mg3pb]

Exactly, I learned this after learning stock trading, also psychology should be taught to everyone.

[@Umm-mg3pb]

It's literally a money making machine, when you're too old to be milked your kids will be and so on. Most of the companies in the world are literally immortal feeding off of every generation. Fully think this through and you'll throw up and be looking forward to the day you die I know I am, I'm not going to rush it along but man that day, man that day is really going to be something special and I'm not even religious. Pure rest folks, no more slaving for the machine, even if it's like before we where born nothing-ness I'll take it with open arms because this place is a sewer and I just want to move on through. Once you fully come to terms with this and understand psychology this is just how it is, you all have been conditioned that's why you literally think everything is great. You guys are still in the matrix I am not. I purposefully have not had kids trust me I wanted to like everyone but then I realized I would just be feeding the machine and I don't want that for my kids.

[@strayedarticle2838]

@@Umm-mg3pb This is the most rational and relatable comment I've ever read.

[@saintfrancis9619]

@@Umm-mg3pb why not have kids and teach them what you’ve learned, so we can have more rationale people like you.

[@stricken1666]

What investors think but dont have the balls to say: "By putting rent control, our profits are only 3x per year not 10x.. so we don't want to put money into maintenance"

[@heroisdacrise2024]

Texas is a conservative expense sht hole

[@sdoe7381]

Rent control does not work that's why places where it's been implemented rent is much higher.

[@hermanrogers1325]

Yep that’s right that’s the reason rent is going up maintenance cost property taxes and mortgage insurance and the landlord wants a pay raise and vacation and a new car and more money for his or her retirement savings and guess who is going to pay the renters and if somebody wants to buy the property at a inflated price the landlord is going to sell and the whole process starts again

[@luciusmaximussd]

You're crazy if you think I'm paying $2k for a studio. I'd rather live in a van down by the river then pay such a high percentage of my monthly income on rent.

[@AtlantaPlaylist]

I did just that except I'm by the airport

[@Yandel21ableify]

Buy an RV

[@KippinCollars]

Van down by the river! Priceless!

[@andreaslind6338]

Oh no, you cannot just opt out of the scam pyramid scheme! Watch the authorities criminalize van living as soon as too many people do it

[@dev_with_me]

She has to be talking about downtown Austin. I just moved out of there in May. I was paying $1425 for a nice 1bedroom 1ba apartment. Townhouse style. Updated appliance. It was very central, about 20 blocks from downtown. They wanted $1900 for the 2 bedroom.

[@OcteractSG]

42% of the average person’s expenses is rent, and yet housing is excluded from inflation calculations. The inflation rate is blatantly disingenuous.

[@fiftyforty-threemma2924]

The basket of goods includes mortgage payments

[@paulerdosdaughter]

@@fiftyforty-threemma2924 Yah, but it excludes rent.

[@fiftyforty-threemma2924]

@@paulerdosdaughter I looked into this, and I was wrong. Forbes noted that they track mortgages, but the Bureau of Labor Statistics specified that they track the cost of shelter in renter-occupied housing (rent) as part of the CPI

[@nahnahson]

@@fiftyforty-threemma2924 yeah but they only calculate it as ~20% of the Cpi. Fact is most people spend more than ~20% on housing.

[@rahzelwashington6847]

Governments intentionally under report inflation to justify accomodative monetary policy

[@gif24gt60]

The government doesn't help by not wanting people to own tiny homes or small prefab homes so people can live. The prices in this country is outrageous. It's like they want people to live in poverty.

[@trafficjon400]

We can but have to move to a possible location witch would make it not even 1% enough for millions. Land lords get away with creepy apts with rats bugs and cheap walls flooring like your next door tenants live with you. thomping dogs load music. land lords make you Sgin a lease with out reading it and then put you on a Black list if you don't obay by the land lord law. Consentration of Communist type treatment.

[@rollingdudes8859]

So true!!! If there is one thing the Soviet Union, got right is that they built enough apartments so everyone could have a roof over their head!!! Our government is STUPID, INCOMPETENT, and only cares about POWER!!!

[@heroisdacrise2024]

Texas is a conservative expense sht hole

[@arialnazar4777]

They do want people to live in poverty

[@juicewayne6385]

For years and years..........ya whole family.

[@acajudi100]

At 79, I had to leave the USA due to deadly crimes, high rents and utilities. I am happy in Queretaro, Mexico. Thank you God.

[@RC-ge4qb]

And better weather than the best US has to offer (CA & FL), congrats .

[@sheriwagner1134]

The irony---all you hear about is the flow of immigration northbound, yet for many people, the only way to stay afloat is to go to a place like Mexico.

[@heroisdacrise2024]

Texas is a conservative expense sht hole

[@VoltairesRevenge]

@@sheriwagner1134 Yes, this is the scam, whereby Americans push Mexicans away from their lands. I tried to explain it to them, but I was dubbed a “racist” for it. Soon, the migrants will be slaving away here, while Americans buy Mexican property for cheap and turn it into their own paradise, at which point the Mexican migrants are caught in the rat race, struggling to wake up from the American Nightmare. Why would loads of people go to another country to do construction when they could be doing that same construction…..never mind. 🤯🤦🏻‍♀️

[@greatone7314]

Best decision of your life. America is out of control & soon going into meltdown. America is not a society it is a Loan Shark.

[@kaynichelle7982]

I'm from Phoenix and I'm so happy to see them bring this up! Rent in Phoenix skyrocketed over the summer. My $1300/mo "luxury" apartment with giant cockroaches increased to $1700/month. Where am I supposed to magically get $400 more a month from? My friend's rent increased from $900 to $1500, both hers and mine were one bedrooms. It's insane. She moved back to Virginia with her parents and I'm living with a friend in Ohio. We legitimately got priced out of the market.

[@TomNook.]

Cockroaches ewww. Can't you claim compensation from the landlord?

[@patzeuner8385]

You got forced out of the market, when they allowed well over 11 million enter this country, in just the last 10 months, which sucked up all the lowest rentals to provide the "free" housing for those individuals. Besides the 10's of millions that came across during the previous Democrat reign with little to none deported, but all eligible for the free welfare that taxpayers pay for.

[@nikki5195]

@@patzeuner8385 stop blaming immigrants. the government can enact policy to fix the rental costs that has nothing to do with helping asylum seekers

[@patzeuner8385]

@@nikki5195 the government can also enforce immigration laws. As far as asylum seekers goes, it's more like people coming here for the free stuff, you know, the free housing, free utilities, free food, free money to live on and the best free medical, that's called welfare. All at the expense of the US taxpayers.

[@tchalla7828]

@@patzeuner8385 of course blame the poor while ignoring the greedy landlords and rich

[@user-pv3rl2lv4p]

They need to start building more housing, there’s a housing crisis across the country, and we don’t need luxury apartments we need realistic cost housing

[@Lucas-hb1uq]

The question is who is “they”? “They” can’t make a fortune by creating new homes. “They” want a nation of renters. The incentive is all wrong.

[@nolin132]

@@Lucas-hb1uq "they" are the tens of thousands of construction companies in America, and "they" aren't a singular entity capable of collaborating. If it was legal to build more housing in cities, they would, because that's profitable.

[@mikew2610]

@C. They are building more. The problem is people can't afford them. There are new townhomes built in my neighborhood that costs $400k for 2BR/2BA.

[@Lucas-hb1uq]

@@nolin132 I work construction and they are not the ones who create the market, they build for developers who are deliberately building rental home neighborhoods because they make more money off of rent than sales. A one time home sale is nothing compared to rent that goes up year over year. There is no incentive to build and sell.

[@zodeadlifts9295]

@@nolin132 construction companies aren’t the same thing as real estate companies😂

[@paris2070]

I’m a single woman and sometimes I can not sleep at night fearing whether I’m able to pay next month rent or I will end up in the street. 😣

[@Pandaluver67899]

I'm a single woman, too and people don't talk enough about carrying on all these costs and being single. There's no one to split with!

[@philobetto5106]

Well the criminals in our government have been intentionally breaking law-abiding citizens...Trump 20024

[@sergiozamorano6413]

This is insane 😮

[@marianparker7502]

I'm so thankful that my landlords are renting me a place to live in at a reasonable rate . Inflation is uncomfortable but i'm thankful that my job pays for my life.

[@Robertgriffinne]

You are lucky because rents are going up everywhere . Rent prices rose by 0.8% in june from a month earlier, according to the labor department it is the largest monthly gain since 1986

[@instinctively_awesome8283]

How can the typical family with average income afford a higher rate+ more expensive home? in my area multi generational home is becoming the norm . Don’t forget to add the inflation which just this week was 9.1 on the CPI , producers index 11.3, it’s going to be a rough ride for sure.

[@Natalieneptune469]

Time will tell how this period will treat people that never save, invest, lived beyond means, paycheck to paycheck, too many kids, too big of home, keeping up with the joneses with FOMO,YOLO, paying alimony, child support, etc

[@PhilipMurray251]

[@marianparker7502]

I raised all my rents at least 30% in the past year. You better hope your landlord doesn't catch on to reality.

[@Johnrl21]

Love how with dancing around all the “systemic” issues, the takeaway from this video was “Make more money or get a roommate”.

[@BewareTheLilyOfTheValley]

Many economists do that, I'm starting to realize, lol. Especially ones not from America and don't really have a full scope of the issues here. I still like watching their KZbin channels but I take it all with a grain of salt.

[@pc5505]

@@BewareTheLilyOfTheValley The reason economists exist is to justify the way things are - in service of the rich people responsible for the way things are. Once you understand who employs them and why, they’re impossible to take seriously, it’s a joke of a profession.

[@robertrieger5694]

@@pc5505 pure the facts

[@tyannalangellier7576]

Seriously though. I listened just to find out the only thing I can do is make more money or find a roommate

[@factspeaker2543]

@@pc5505 and where did you get this information? I think you should be pointing your finger at the government, but then again what do I know you probably sit on the couch listening to all the garbage the media spews instead of actually doing something in local government. Economists are more concerned about the trillions of dollars spent in the last year and what that means for our country and currency going forward.

[@Izzyjean]

I live in my minivan at the moment. Part of the reason is because I could never afford an apartment I know I can get roommates but I need to be on my own. Everyone deserves to live on their own

[@missdesireindependance5194]

Look into mobile homes, RVs, condos and townhomes. The southern states and the Midwest are more affordable.

[@maylani3697]

You’re not alone. Unfortunately, it doesn’t make the news but, there are a lot of people living in their cars now because they can not afford rents. People with children even. Wages have not kept up with the cost of living. Businesses will squeeze as much as they from their workers for as little pay as possible in the name of profit. You’re lucky to even have a vehicle that you can live in. Food and shelter are suppose to be basic human rights. Doesn’t seem to be that way anymore.

[@Izzyjean]

@@missdesireindependance5194 I’m living in my minivan partly by choice. I want to travel around the country and I’m not trying to work four jobs to pay for the rent.

[@iamme7664]

As a woman, please be careful driving around and traveling alone in a van.. Don’t let people in your area know you sleep in your van. Please be safe

[@orlandowoods3235]

Highly recommend you legally purchase a gun, stay safe

[@dajaniererice8267]

I've been looking into tiny homes for this reason alone. Due to inflation, even everything in the dollar store isn't even a dollar anymore. It's sad but unfortunately, once the economy gets back on track, I doubt these prices will go back to what they once were.

[@ricosuave666]

Zoning laws and building codes make tiny homes illegal to keep poor people away. Thank white boomers for passing those NIMBY laws.

[@freedom2outshine670]

It’s $1.25

[@gracewinseverytime6612]

This is a serious issue that needs to be discussed. I know of a few single moms who are having a hard time paying rent, buying food and the essentials. They make either too much to qualify for a lottery apartment or not enough.

[@Novastar.SaberCombat]

They have no chance, plain and simple. It's over. If you're not rich, you're either DONE, or, you have to become a live-in slave to some rich family who will take you in as a housekeeper, lol! 😂🤣😂 🐲✨🐲✨🐲✨

[@francismarion6400]

It was never financially sound to be a single mom. People should start putting more thought into who they reproduce with. I do feel for those who lost a spouse, but that is generally the exception and not the rule.

[@adem5762]

The problem is the archaic US planning laws. Not supply and demand as suggested. In the late 40's the planning laws changed. You could only build detched single family homes in the Burbs, or skyscrapers in the city. If you look at some city dwellings you can see the difference, high density mid storey flats pre-1940 against skyscrapers post 1940. Just look at Europe and the city dwellings are 4 to 8 storeys, it is affordable housing...albeit until ArBnB came along...lol. But European cities are limiting how many properties are allowed to be AirBnB. The US can change their stupid planning laws and build affordable housing. In the UK, new developments have to have a percentage of social homes in the estate. Not an estate for social housing and one for luxury properties. They are mixed.

[@gracewinseverytime6612]

@@adem5762 thank you for the info. Sounds like I should move to Europe.

[@PapaEli-pz8ff]

Many of us retirees are also in the same boat. At age 72 I have no intentions of returning to the workforce.

[@tjr4459]

It’s so upsetting to see these so called “luxury” condos going up when they’re not needed. America doesn’t need luxury condos ( they’ll call anything luxury these days). The typical family just wants an affordable place to live without all the bells and whistles. We especially don’t need a gym on the first floor or a terrace on the roof.

[@ah2522]

nah, we want luxury condos. I just bought one. It's lovely! Over 1 mil but it's worth it

[@Eristhenes]

Yeah, they are trying to create “communities” in these buildings by having well-outfitted public areas like a gym, media room, business office, but small units. I’m with you; I don’t need all that junk, just give me a nice, spacious unit.

[@sm3675]

It's a buissness. You cannot charge someone $800 on maintenance fees for no reason.

[@joeb5183]

It takes almost the same effort to make something “luxury” why would a builder sell themselves short by making an affordable home or condo?

[@seanthe100]

People want luxury apartments, but it's no sufficient to satiate all demand and unnecessarily increases price in an area.

[@hahadarrie]

I have taught abroad for the last 8 years in South Korea and the UAE. Most companies pay for housing and sometimes even utilities. I came home to the USA for 6 months, July -Dec of 2021 but realized there was no way to stay and live comfortably. The first opportunity I got I was on the first flight out.

[@morenakhaya655]

🤣🤣Wow for my 2bedroom apartment in Johannesburg, South Africa is $450 n really upscale. I laugh wen I see ur prices.

[@prettylady818]

@@morenakhaya655 it’s actually not funny at all. It’s sad that people can’t afford a basic need like housing.

[@ebo7310]

👏🏿👏🏿👏🏿👏🏿

[@paxtoncargill4661]

I want to move out, but my girlfriend wants to stay in the states :/

[@TheAPI]

@@paxtoncargill4661 sounds like you have a decision to make lol

[@spitperson69]

So basically, landlords are incentivized to make more money even if it means pricing out people who can't afford rent, and we can't do rent control because those same landlords say its bad. Sounds to me like the real problems here are the landlords.

[@MarketTeaLeaves]

Agreed. The problem is the landlords. It's called greed, pure and simple. Interest rates at record lows, so the landlord takes another loan on their property. Who pays for it? The renter of course. I never thought I'd ever see the day when owning is less expensive than renting, but here we go. And why aren't more landlords using Section 8 Housing? They don't want to be scrutinized by the federal government because they don't trust the government, yet the government is the most timely payer of all

[@Nirobiscloset10]

Exactly.

[@spitperson69]

@@Goodjob825 this is maidenless behavior

[@wigit2216]

@@Goodjob825 cant succeed when they kick us down. you cant get ahead financially with rent like this for the average american.

[@Lurch685]

Rent control is just a price control, which is a recipe for disaster. There are consequences.

[@carlyletom301]

They were just implementing a rise in minimum wages. It was being fought to block it from happening. Now the prices of everything has gone up, it has nullified any potential gain for the poor and young adults.

[@bonniegaither3994]

They can’t afford to build affordable housing so they build luxury housing instead, yeah that makes sense. 🙄

[@Eristhenes]

Yes, they are always trying to pass off distorted logic like that.

[@jessefisher1809]

It does actually make sense.

[@reggie69.]

They can't afford to make cheap houses because of land prices so they go for the higher End Market

[@Panda_J1]

is because permits and government regulations make building expensive. So is not profitable to make low end housing when government are like snails to grant permits

[@eckankar7756]

If I were a builder I'd build what I could get the most income from.

[@whatsinaname3397]

Bank: I’m sorry we are unable to offer you a mortgage. We feel as though buying a home out be out of your price range… Me: But I’m paying more in rent now that I would on a mortgage payment! Bank: Yeahhhhhh. Sorry nothing we can do. 🙄

[@rhondamcknight2596]

You pay more with a mortgage. YOU pay the water, trash and property taxes. Plus the electric bills, repairs & maintenance. If your rent is $2500, if you buy a run down house, your monthly cost would be double.

[@andreaslind6338]

He's more talking about the unreasonable things the bank does, rather than how expensive it is to run house

[@RealLifeFinance]

Yup whole time in Nevada I was paying $1400 to rent an apartment, I tried to buy a nice small 3bed house many times that woulda had a $1500 payment. No No No You can't afford that. Now my rent is $1700!!! F*ers

[@headlesswonder]

@@rhondamcknight2596 Many renters pay everything except property taxes and large scale repairs but still pay twice what they would for a mortgage on the same property. Many would pay about the same monthly even while saving for future repairs and they’d be investing in their own property rather than someone else’s. They do this for many years with no missed payments and excellent credit yet are considered high risk if they can’t meet the 20% down payment mark. They are ultimately punished on both sides and end up stuck forking over up to 70% of their income per month on a property that they don’t own just to avoid living in a dump in a bad neighborhood. Wages are much too low to accommodate rent rates plus saving for a home for the average person these days and loan requirements offer no real flexibility for those with low risk rental histories and stable employment. PMI is a barrier and absolute racket. It’s not as simple as you’d like to make it sound.

[@jgerald8401]

@@rhondamcknight2596 don't know where you've been but where i live all of those expenses plus a few miscellaneous ones (except property tax) are billed to me as a renter. every month. so yeah it's incredibly frustrating to be told you can't afford something you pay literally every month.

[@jon-xt6mo]

Living in car soon. I'm not killing myself to keep up with theses bills

[@memcore1312]

Sad reality. Stay safe 🙏🙏

[@BadEconomyOfficial]

Get a camper trailer dude, you can still live nice and live off the land

[@ji-inroh495]

The cities with zoning, permitting, environmental impact regulations, etc. have made it impossible to build anything but "luxury" housing. Looked at adding some affordable studio ADUs to a property in CA but the permitting process would've taken 8-10 months. Gave up.

[@Tyreeco3125]

This definitely needs to be discussed more often I have friends and family who are suffering because these price hikes how do they expect people to live. The stock market does not reflect what’s is happening to average every day American

[@Tyreeco3125]

@@brenthandley5591 well damn when you say it like that smh.

[@grandmalovesmebest]

You must move out of the USA. It has become a place for the wealthy onky. Foreign labor is piling through the southern border to become slave labor. As the middle and lower classes of other countries have not lived at the standard of those of the US, nor do they expect to do so, they will be comfortable enough in their new coumtry. For the average American (US), the only answer to staying alive is to get out. It is sad if you have not been planning this over the past 10 yrs so it will be harder for you, but keep in mind that at least you will be alive and wont starve. Eventually, you will get used to your new place and it wont be anywhere near as far down as it will be in the US. Good luck.

[@pzzz_]

Also 90% percent of the stock market is owned by the wealthiest 10% of Americans. The stock market is definitely is in no way representative of an average American and the current economic state most people are in. Also the stock market is based on speculative value not real objective value.

[@weldmin4818]

@@grandmalovesmebest No way. Dont make it that easy for them. Make them go to greater lengths than they did with native Americans. Dont just let these middle men take the country from you.

[@timetraveler9218]

@@grandmalovesmebest You realize it is very difficult and almost impossible for the average American to move countries. Most will not take you unless you have very specific skills.

[@dragonluvaIII]

I'm 40 but when I was 22 I lived alone paying about $525 per month for a 1 bedroom apartment in a gated community. Now, that's $1300- $1700. This is why young people can't move out nor do they have the skillet and education to get the high paying job that offers HealthCare and 401k. Let's not forget that if you do go to school more than likey you have a $70,000+ student loan around your neck. Today you need about 4 roommates just to break even with that $15.00/hr job

[@Yandel21ableify]

America is a sinking ship.

[@good-tn9sr]

No excuse for debt that high. Community college and state is the smart way. Coming from self sufficient teen…

[@solarsky3691]

Extreme corruption in the government and this is collapsing the country.

[@good-tn9sr]

@@solarsky3691 I don’t think it’s collapsing, but if we are collapsing then every other country is.

[@joebyron9]

trades

[@kurtybarra8924]

When I was looking to purchase my first house back in 2021. The first offer I put on a house was 35k and over and I got outbid by 90k by a Wall Street investment firm and they turned around and rented the house out two weeks later for 2200$ a month. The government needs to regulate companies like TriCon American Homes and Blackstone. It’s very hard for the average American to compete with Wall Street and trillion dollar real estate firms

[@cylotron5447]

I was born and raised in San Diego. As you can imagine, the situation is extremely bad here. Most of my income just goes to rent/bills(not to mention, health insurance). I have little left over for any kind of savings. Most of the classmates/friends I have kept in touch with over the years have moved to another state. The "sad" part though is those who did move, are also struggling in those other states. The only people I know who have ended up being financially stable and enjoying their lives, were ones who picked up and left the US altogether.

[@Cursedbutmaker]

I agree with you on that one. Mexico is way more affordable than California.

[@GreenEnvy.]

I'm a fellow Californian. I moved to the coast of Morocco. Once you get passed the fear of moving to another country, you will only wonder why you didn't do it sooner. Good luck my man.

[@josecarranza7555]

I became a male stripper and paid off my mortgage. I never thought I would do that, but I was on the verge of losing my house that I worked hard to get.

[@shannon890]

No judgment

[@Cursedbutmaker]

Strip it!

[@Person1865]

Good job! If I were cute I might do the same.

[@GORILLA_PIMP]

@@Person1865 I mean a good lookin chic can make serious money strippin

[@Naturefan354]

As long as a person is doing a legal job and paying taxes then there should be no judgment or criticism for how you make a living.

[@cindyrolle6476]

The price of homes everywhere in America is disgraceful. Rent prices are rip offs. Eventually, it will all tumble down.

[@leahmojo2178]

Can’t wait

[@jgrysiak6566]

Market crash is long overdue. They need to stop printing more & more money.

[@NDB82]

WHEN???

[@bucktooth002]

I'm moving my cousin, his wife, mother in law & sons to the middle of nowhere. He's paying 2000 per month & just can't work with the new rent increase. Our uncle will also be helping build a house. Its better to live with your clan then to end up homeless. Or simply just working for a apartment.

[@dianewebb1855]

Long overdue

[@myst7201]

My rent was just increased by 400 dollars a month!

[@coletam8325]

Rent control is needed everywhere

[@jtn1920]

This isn’t a supply problem. The disconnect between prices and wages tells you everything you need to know: average Americans are finding themselves in competition with external influences, such as foreign investors or real estate speculation by private equity.

[@Masterrunescapeer]

Not foreign investors, it's mostly companies investing or people from more expensive cities moving over.

[@wiseowl2020]

This IS a supply problem created entirely by a government imposed eviction moratorium. Another fine example of power hungry politicians who are clueless about real life. Keep voting for it.

[@Dan16673]

It is supply in the right area

[@robert2690]

@@wiseowl2020 And how do you expect the poor people to afford anything?

[@wiseowl2020]

They can go to work like the rest of us. That's how.

[@Pauldonald21]

Is this the best time?

[@kathleenstoner.n7499]

Yea! The best time to trade uranium stocks *(DYOR)* do your own research. Through a professional *Nancy* *Lynn* *Lewis* you can look her up!

[@amydiscovered2665]

Congratulations

[@joeyluis0]

Rent and everything getting expensive but wages stay the same 🤦🏻‍♂️

[@GreenEnvy.]

My mom's house when purchased in 1988: $240k My mom's same house valued in 2022: $1.4 million

[@novaxdjokovic9592]

My parent's bought their house in the early 90's for 70k and it's now worth about 350k. They talk about how good that is but they never think about how their own children are now priced out of the market

[@micesserono2966]

When people can't afford housing, saying that construction of one family homes will solve the issue sounds totally out of touch.

[@dohczeppelin37]

It's a supply and demand problem. Increasing supply of affordable single family homes will make it easier for some current renters to buy their first home, thereby vacating the rental that they might otherwise stay in for much longer. As they leave the supply of rentals increases, which decreases the price of them. Those struggling to afford housing now have opportunities for a decreased housing expense.

[@DC70182]

@@dohczeppelin37 no one wants to build affordable housing and even if that were the case investors would just swoop them up first

[@edhcb9359]

You can’t build affordable housing when local officials have tacked on ridiculous permitting fees. It costs $150k where l live in just permits to build a single family home. An an apartment complex? 7 figures and a decade of red tape.

[@chadleach6009]

@@DC70182 what do you mean by affordable housing? Like the government housing that normally turns into crime infested dens that are normally torn down in a few years?

[@RedHanded1969]

Smaller single family home only solves some of the prob.. High rise/multi story affordable apt are the answer. But many counties wont allow it.. A dark side of NIMBYist..

[@lesliessgarciaa]

I am beyond frustrated with this economy and insane inflation.

[@edhcb9359]

Use it to your advantage and find higher paying employment.

[@pamelataylor8947]

Than move in and most have rat 🐀 problems

[@stapleman007]

Print $10 Trillion dollars in two years when half the economy is FORCED to shut down due to MANDATES (not legislation). No one cared at the time, glad people are starting to care now.

[@atefhmam3487]

lets go brandon

[@jcman240]

You can blame all the sheep for electing Brandon...

[@joeytrust4393]

“There's a storm coming, Mr. Wayne. You and your friends better batten down the hatches, because when it hits, you're all gonna wonder how you ever thought you could live so large and leave so little for the rest of us.”

[@kacthinkforyourself6968]

I appreciate this video. I've lived in north Texas since 1997. I have rented, and owned homes over the past 20+ years. However, I have never seen these ridiculous rent and home price increases. The Governor of Texas does nothing to help and I hope abbott is voted out of office. How long have people and government officials been talking about a livable wage? Years this has been discussed. The pandemic ravaged the world economy. It also put a big spotlight on how the haves, 1% and banks, corporations benefit while the have nots still are suffering. It's ridiculous in a country (US) that is viewed as a world leader cannot even resolve social issues in It's own backyard. COVID-19 still has a grip on our global economy. Smh

[@marianna1513]

The banks tells me I can't afford $1,500 of mortgage a month. But they tell me I need to pay $3,000 in rent a month. Absurd

[@heroisdacrise2024]

Texas is a conservative expense sht hole

[@VoltairesRevenge]

Yes, debt to income ratio. The more rent you pay, the worse your application looks to the bank, regardless of your score. It’s a catch 22 that favors people whose parents support them longer and assist them with down payments.

[@NicLaue]

We need more missing middle duplexes/mixed use and high quality single family homes that are built more densely. Unfortunately, our zoning laws make it almost impossible to build anything besides single family in most places. Not everyone can immediately afford a home, they need stepping stones to get there but unfortunately most people have the option to rent forever or go straight from an apartment to an expensive suburban home. We need more of the middle step. We need Strong Towns style development.

[@AbsolutelyRedundant]

Yep! Not Just Bikes made an AMAZING video on it. kzbin.info/www/bejne/eXSylYSpj8Zka9E Abolishing the absurd zoning laws and parking spot regulations would help tremendous amounts. I'm glad there's someone out there that agrees too!!

[@sm3675]

Yea. Not to mention single family homes are costly to maintain for the city.

[@KRYMauL]

@@sm3675 Don’t forget the maintenance one has to do on their own

[@RS-ls7mm]

So who's house are you going to bulldoze so you can build your future slum? How about people live where they can afford?

[@KRYMauL]

@@RS-ls7mm The missing middle isn’t a slum genius it’s a dense suburb that can be very quiet. We’re not talking about the projects here. We’re talking about street car suburbs. smh

[@martyberry1917]

What some of these apartments are doing is charging you monthly fees for everything- in beautiful Colorado Springs we have a 500sq ft apartment and it costs us roughly $1600 just for the apartment before utilities. We pay utilities twice a month- once from the complex for “community” utilities and once from CSU. Working full time jobs and making roughly $60,000 last year combined- we netted a loss after all bills are subtracted from our monthly expenses. We cut back to buying absolute bare minimum and I try to make sure that I only go out when absolutely necessary. Eventually we’re going to end up homeless at this rate, so I couldn’t imagine the stress that someone in a similar situation must be going through. We’ve considered moving close to family in Arkansas- but, that involves spending money we don’t have to go somewhere that honestly isn’t much better. We took out a loan to help balance our budget and got a decent rate- but getting sick one time and both of us being out for roughly a week and expenses involving our dogs set us back nearly 700-800 the last few months. February is a short month and ultimately relying on this loan is genuinely the only other way to pay the rent next to working two jobs again. I hope it balances out soon- but fat cats on wall street will have made their money back long before then.

[@davidkazakov6232]

Property taxes are skyrocketing in Texas, about 20-25% of rent is going to cover taxes. Counties are jacking up appraisal values every year and then charge 2-2.5% rates, for example house appraised at $500k in Austin will cost you close to $10k/year in taxes. Add permits costs and delays, and its clear that local governments have a big impact in pushing rents higher, not landlords

[@MassachusettsTrainVideos1136]

Finally a sane person here

[@tiga2001]

Seattle had 2 candidates for mayor. One promised to get rid of single-family housing zoning so that we can build more high-density housing everywhere. She didn't win. The voters are part of the issue in creating too few housing units.

[@seanthe100]

The voters aren't part of the issue we are the issue.

[@gothnate]

The voters are the NIMBY (Not In My Backyard) crowd.

[@Jack-fw4mw]

That was not the biggest issue on the ballot in Seattle.

[@dearjohn8789]

slums

[@Cyrus992]

Campaign donors

[@lillyvanshtup8595]

About two months ago, I lost my job because this restaurant that I managed - told me that they couldn't afford my hourly rate. I came to learn that they had received the PPP loan twice and on top of that hired two people which would have cost more than my hourly. Just saying that there are so many factors to this messy economic situation and greed is at the top.

[@edhcb9359]

Sounds like you weren’t worth the money they were paying.

[@0IIIIII]

Should’ve gone to biotech. I am 26 and I make six figures. Off a bachelor’s degree from a modest state school

[@cosmicllama6910]

CEBEDH Sounds like you want a working homeless population to look down on.

[@edhcb9359]

@@cosmicllama6910 “Working homeless population”. An oxymoron if one ever existed.

[@Kadasberry11]

Greed is definitely at the top

[@RIPStefany]

I wish everyone would stop calling this a supply and demand problem and start calling it a greed problem. (Big investment firms buying up all the single family homes, etc). There will always be demand for housing as long as humans exist. But as long as these prices remain ridiculously high, then people who are settled into a well-priced mortgage from a few years back aren’t going to be moving now.. and thus stifling the supply.. because they know they can’t afford to move now! This is not the least bit sustainable and there’s no way this is going to end well for most people.

[@Pandaluver67899]

It's ridiculous, how is anyone supposed to live comfortably? And it's even worse for single people that can't split with someone. Housing didn't used to be this expensive!

[@MrNeilTV]

The generation above me says it’s us….Oye I’m so sick of feeling like I live in a mess of country that’s I’m constantly being taken advantage of. I pay twice as much for a 1bedroom as my sister pays for there 2500sqft home. It’s not just rent it’s literally every element of life as a working person in America.

[@heroisdacrise2024]

Texas is a conservative expense sht hole

[@potrelviewer9536]

When even the smallest apartment/house isn't livable enough due to rent, then it won't be a surprise if the USA will have the biggest proportion of homeless people, and not just immigrants or poor people, but also long-time american families and middle income folks...

[@nunyabidness3075]

Do you always think every trend will continue unchanged? Really? Or did you just post that for likes?

[@pzzz_]

Income inequality is only getting worse and worse. Wealth inequality is currently worse now than the gilded ages. Poverty, homelessness, and crime is only going to increase at this rate.

[@potrelviewer9536]

@@pzzz_ When the societal balance will break (we're very close to that situation), no one will be safe from the collapse of our civilizations, no matter how much money you have or not.

[@jmcnally647]

@@potrelviewer9536 Exactly! This is how wars begin.

[@didiss400]

@@potrelviewer9536 Occupes toi de valerie pecress et de Eric Zemmour , les Etats Unis savent ce qu'ils font.

[@eddiewaldron1371]

"Single family housing is the preferred housing option" ... you mean it's the only option allowed to be built on 90% of America's land... and the most expensive to maintain in the long run.

[@mchaeltebo786]

Let's not forget, developers no longer build reasonable, 1000-13000 square foot homes. The average new development, has homes between 2100 and 2500 square feet.

[@travisgodbold7070]

Rising rents should be a crime against the state. That's crazy to charge a tenant double for a place that in only ten years has skyrocketing prices. I moved into a rundown apartment paying only 500 a month and now ten years later that same apartment is charging 1200 to 1300 a month! Real estate brokers and landlords should be sent to jail for such cruel rent hikes it's against humanity.

[@kennethhusbands2183]

Should be ordinance against rent yikes

[@dougg4633]

LOL Your so ignorant

[@travisgodbold7070]

People will call it communism though if the gov regulates rent. In the Soviet Union everyone had a free place to live. Housing was a government subsidy.

[@westcoastadventurers8504]

My thoughts exactly. I agreed. In my eyes, that's Treason against good honest hard working citizens doing their best to make ends meat living check to check every month.

[@robertotodaro6673]

Agreed they are milking us

[@johnbascom4523]

The more I listen to this video more I realise that this problem has been constructed for the benefit of those that own property.

[@mason4966]

Exactly. That is what I have suspected all along.

[@javiervazquez3948]

It’s outrageous! It’s getting out of hand everywhere

[@hellofromdotherside8241]

The house we are renting, with started at $1,600.. today the new rent amount is going to be $2,100.. and not one single thing fix or upgraded. She said it was due to inflation but my salaries are the same.

[@dallasryder8125]

Remember when everyone laughed at that brother, with his “The rent is too high!” Party? Yeah… same folks who laughed are getting crushed.

[@tmkim2092]

I don't understand this kind of person who talks about that brother and remember that period all the time but has never bought any house even though the house price was so low at that time hmmm why you didn't buy a house then?

[@kingk719]

@@tmkim2092 you honestly don’t know how most people live do you?

[@dallasryder8125]

@@tmkim2092 I was in high school. The collapse 2008, happened when I was a junior in high school maybe making $200 a week lol. Get off your high horse there Kimmy. I make way more than that as power system, biomedical distribuitor owner and consultant, but I can still complain about how the market is. I own land, a house and don't pay property taxes due to military service. The current market is a "joke" that can't be laughed at currently.

[@astolfo99]

How economy should work : prices should catch up to wages not the oposite

[@lavalampluva55401]

Interesting how much the cost of things went up, but wages stagnated.

[@dannyzero692]

@@lavalampluva55401 The first time I went to the United State as a tourist I was hoping to see a modern, prosperous country but instead when I talk with a Walmart employee she told me that she slept in her car near the Walmart she was working in. She cannot afford to even rent a studio apartment because if she do she can't spend much on anything else like food/utilities. Really sad...

[@suntzu1409]

Its US We dont do that here

[@suntzu1409]

@Zaydan Naufal US population is aging, meaning more healthcare is needed So its just the worse

[@astolfo99]

@@suntzu1409 well no because presumably those old people paid healthcare their entire life + taxes so its not a concern

[@laiszeyap]

I watch one KZbinr, he said he work day and night in silicon valley, but end of the day he will pay 40% tax ( almost half ), medical and dental 4-6 figure.. it's so hard and almost impossible to live securely in US no matter how.

[@kasimcinar9819]

Never leaving the house and apartment building alone to the market. Where privates are the only competitors, you can always bet on increasing rents, only if an exodus in that area may occur, would be an exception. I am German and I see in Europe, the cities who gave too much room for the private sector are the worst. We in Germany also face some issues (even so it's not as big, as in the US), due to the fact, that some public companies which owned a lot apartments were sold, so the states got less apartments themself. In Germany we now change this and the states are now building more apartments for rent and hold them, also the communities which hold more of their apartments, got less problems. A city which got a real good control of rents in Germany is Ulm. Ulm got strict rules in their homebuilding policy, speculators got no perspectives there. If you buy land there, you do a contract, where the buyer has to build an special amount of apartments and a price region is also given, where you can offer rents. If you do not build apartments in a given time, due to the contract, Ulm got the right to buy the land back to the same price they sold you the land. So speculators cannot wait there and hope for raising ground prices and sell then, the contracts are giving strict rules and the rents are still decent there. In Vienna, the capital of our neighbor Austria, you see a lot of affordable housing, cause Vienna defended their own apartment stock. They got the rule, that every rent from privates and sells there too, have special taxes. For low price rent and sells the taxes are low, for the high price segment the taxes are higher. With this money Vienna builds own Apartments with low rents. So the city there got a lot cheap rents with good apartments, next to the high price rents you also find there in the private sector.

[@cindyi8471]

Rent has almost doubled for a 1bd in Las Vegas. I moved almost 4 years ago and a 1bd was around $900 in a very nice neighborhood. The same unit is now renting for almost $1600. Of course my salary is the same. I was able to live pretty comfortably but now I have to budget every dollar.

[@mida8261]

I lived in Centennial and was paying $775 for a 2 bedroom in 2017. I left in 2020 because I was paying more than what I was paying in California including utilities, insurance, etc. Rent was $1450 when I left. That same complex has 2 bedrooms available for $1700 as I type this! I have since moved back to California where I found relatively cheaper rent and a better paying job that has slightly put me in a better position than I was in Vegas (ironically the opposite happened when I left California for Vegas in 2017 and it put me in a MUCH better position.) Screw this inflation bullcrap! Sorry you're going through this.

[@cindyi8471]

@@mida8261 Oh you definitely know exactly what I'm talking about, and I'm sorry you had to deal with it too!!! It's absolutely crazy. I actually moved from Hawaii but honestly with lower pay in Vegas, I ended up in a worse financial position once my rent started to increase. I was on the fence but I decided after writing that comment, I'm moving back to Hawaii. With as expensive as it is in Hawaii, I'm actually going to better off with a better salary, and paying a slightly higher rent. I found a 1bd for $200 more than what I'm paying now in Vegas. So it's not even worth the sacrifice to leave Hawaii and live in the desert when the cost of living isn't that much better and the pay sucks even without state income tax! This inflation is ridiculous and soon most of America is going to look like a 3rd world country due to Middle class not even being able to afford rent very soon! Do you mind if ask what area of Cali you're now living? I considered moving there but also found it to be very expensive but may have been the areas I was looking.

[@zachchadwick3613]

I moved into the Aviator on St Rose & Starr Ave in Henderson, NV in September 2020. My lease was up in December 2021. My lease agreement was $1,265/mo + $75 Water/Sewer/Trash each month, plus $100 for Cable/Internet they FORCED us to pay for. When 60 days came up before my lease expired, they wanted to charge $1,795 For the same exact unit, no changes, no upgrades. That's $500 increase in 1YR!!!

[@cindyi8471]

@@zachchadwick3613 I know exactly which complex that is. I'm around the corner in Southern Highlands. That is an insane increase in just a year!

[@dollyfox66]

@@zachchadwick3613 wth

[@chrisWTG]

society is becoming extremely unsustainable, we need rent laws updated to make a rent cap for lower income wage earners!

[@sandrahart6195]

Creating money for the Federal Reserve is always the Economists way out of that.

[@NazriB]

Lies again? Serie A Leader

[@dcg590]

No. That’s socialism.

[@sandrahart6195]

@@dcg590 " If your into that kinda thing, yes. BUT it's viewed as Aggregate Expenditures Models in Economics.

[@sandrahart6195]

I'm only going to say this ONE TIME in the chat room:;b*tching about socialism mean your discussing the difference between Teaching and Visa jobs ...THAT'S ALL.

[@dearme0089]

The mid rise apt I rented in 2012 was 740 monthly now its 1600. It’s crazy how rent is increasing yet wages aren’t. Then on top of that you have to make 3.5 times the rent.

[@1984sebb]

The only way to stop this is for renters to join together and form a mass movement of non-rent payers. Millions of people not paying rent would change the situation...

[@gremics-gallery]

$15-00 won't cut it. Employers need to come up with more than this amount. At least double, even for unskilled labour.

[@Kamone111]

It’s insane , I asked my landlord how the rent went so high and they said it’s market value. So if someone can just say raise the rent, why can’t someone say raise the pay 30-50 percent. It’s seems equal. This is going to hurt businesses. People will eat out less and go out less due to spending money on housing

[@notadog9244]

I’ve given up on my dream career I’ve given up on moving to where I want to I’ve given up on being able to afford a vacation I’m giving up on being able to afford groceries as much as I’d like The one thing I want, I just want to be able to create opportunities for myself, and not have to move back to my family’s property in the middle of nowhere. Now rent is spiking, and any new hope of affordable housing, has the word “luxury” slapped on and the prices shoot up. I’m very frustrated

[@dianamoncada6734]

Same

[@edhcb9359]

Sounds like your problem isn’t the economy or the housing market. Your problem is that you’ve given up on life.

[@Lotusblume.8]

@@edhcb9359 quit it with the lame comments, troll!

[@edhcb9359]

@@Lotusblume.8 Would it help you if I incessantly whined about there being no hope? Since it’s Christmas I can do that for you if it helps validate your feelings? 🤷🏻‍♂️

[@hazeldavis3176]

Ditto

[@dalepidcoe8300]

Dale Pidcoe DuBoistown, Pa. What was the first episode of the classic Sesame Street that concluded with the characters in the courtyard in the morning and Mr. Macintosh's voice announcing the letters and number of the day?

[@willieverusethis]

A lot of people are blaming this thing named Supply for the problem. Supply is not a greedy person. The people who own rentals and see that they can squeeze more money out of the poor are the problem. No one is required to raise rents just because housing is scarce. There are plenty of houses to go around, especially in places like California where we LOST population. It's just that some people own more than one, and the people who own more than one are increasing their share of houses and getting richer. That results in renters getting poorer and increasing homelessness. More housing will not reduce rents, since there is no requirement to lower rents. 8.7% of California's housing stock is vacant. That comes out to about 1.2 million empty units. We only have 151,278 homeless in the state. How many empty units do we need before landlords start volunteering to charge less in rent? SUPPLY HAS NOTHING TO DO WITH RISING RENTS. And wages have been flat for decades. It's evident that as a society, we prefer to continue to reward greedy rich people than have a housed nation.

[@DiamondEyes84]

"THE RENT IS TOO DAMN HIGH!" -Jimmy McMillan

[@supadave422]

Legend

[@Blissful_Gia]

Rental demand will always exist so long as humans need a living space 🙄 My rent went from $1,400+ to $1,679.00 What annoys me the most is that I feel there should be a clause in rental agreement stating that upon renewal, your rent make increase $200-500 or an estimate. This gives the renters months to explore their options and decide if they can afford a rent increase. But instead they hit you 2 months before your lease expires and have the audacity to ask for 60 days notice. I live in Arizona and it’s getting out of hand.

[@bucktooth002]

My cousin in Meza now has to pay 2000 per month due to rent increase. I hope he helps me build a house in the middle of nowhere.

[@humanitiesprofessor1912]

That is awful! There should be a law in place to prevent such increases!

[@vhill5993]

They don't send any kind letter saying it's going to increase? My complex does but I think that's because it's the law.

[@DeeluxyLife]

Girl it's the same in GA. I currently have a roommate but she has to relocate to another state. I have to find my own place. The same apartments that were 1100 - 1200 are now 1700-1900 ..... Then they told I don't make enough to qualify for the apartment.. its bs.

[@toriyt2714]

It is in there at least it was in mine. When I rented my rent would go up like a 100 ever time I renewed my lease. It was crazy to me.

[@Kimastips]

Even when rent is suppose to be affordable .... or based on limited income ... many people still need at least two incomes to afford it.

[@BlackMagnolia]

Corporations MUST BE STOPPED!

[@davidcantor293]

I love how apartments increase prices to “remain competitive” .... how does this even make sense lmao.

[@headlesswonder]

It’s code for “I want what they have even if my property hasn’t been upgraded since 1972.”

[@Calicapenergy88]

@@headlesswonder my apartment walls are so thin I can hear my neighbor upstairs using the bathroom and they want $300 extra lol

[@gratefulliving1760]

Property taxes are growing too. So are costs of maintaining the property. Inflation hits the landlords too, sometimes even harder than their tenants.

[@broadcasttttable]

Sounds better than "I'm greedy."

[@KissMyFash]

yes and it's really ridiculous even the apartments that used to be affordable are not anymore. Here in Jacksonville rent is like 1,300-4000 and jacksonville is definitely not a place you want to spend that much money to live with absolutely nothing to do in the city.

[@j.symone]

Same. I live in Jax too, my rent (a home) went from $1500 to $1810 smh. Just not worth living here.

[@GORILLA_PIMP]

Dam jax is pretty boring eh? I was always kinda curious what its like there I think it's the largest city in the usa land mass wise

[@carjam49]

no mention of private equity firms or gentrification. Portland, OR has built like crazy over the past 20 years, nothing but luxury apartments, and now people are living in tents on the sidewalks.

[@eckankar7756]

A property owner buys a condo to rent for say, $200K, paying about $600. a month mortgage, $125. a month insurance, $125. a month taxes PLUS income tax on the rent they receive, $125. a month on HOA fees plus pays water, sewer, trash, property maintenance for parking, lawn care etc (some HOA cover that).. say those costs comes to $1200 a month which is reasonable, rents for $1600 a month that's $400. a month for 'greedy' get rich profit which the landlord will pay 20% income tax on so down to $320. a month greedy profit. it will take 52 years to just break even on the original cost of the condo if rent is never raised.

[@smiles2s302]

This is very frustrating. It’s a human right to have a roof over your head. How can they take that away from people? Do they want people living in the street?

[@Clintsessentials]

Thank you!!! 👍👍👍👏👏👏

[@gratefulliving1760]

No, it is not an adult human right to have a roof over the head. One needs to do something to get it. Most people work, and pay for the roof from their wages. It is not an adult human right to live either. One has to do something to keep living.

[@Clintsessentials]

@@gratefulliving1760 whatever!!!

[@jesusjuice7934]

@@gratefulliving1760 you’re living under a rock

[@gratefulliving1760]

@@jesusjuice7934 I live in 15 minutes of walking from one of the most gorgeous ocean beaches in the USA. I don't consider this to be a right. One has to pay for this, or for any other roof over the head. The "human right" is an illusion of organized society. Imagine yourself being dropped in the middle of Sahara desert, without water, food, or means of communication. Would you still have the right to live, without doing anything? Or would you need to somehow earn it?

[@NirvanaFan5000]

Can't believe they didn't even mention zoning, and instead praised the increase in single-family homes. smh.

[@TomNook.]

Family of the future lol

[@cornloin9732]

and theyre also so ugly. reminds me of when squidward moved to a gated community

[@buckbiro]

He did, at 4:30.

[@manfredmann2766]

It was more real to me hearing that teacher’s story in Austin compared to those other people who probably make at least 5 times her income describing the housing, in which they are contributing to the over inflated prices in the comfort of their homes, or maybe even second homes.

[@luiscruz679]

Rent had been rising since before the pandemic

[@tristanrodenhauser5267]

They need to start planning cities around public transportation initiatives, make things more walkable

[@alexanderabney-king522]

Yes, this is key. I died a little heading “we need more single family homes” no, we don’t. We need transit and walkable cities

[@jennifertarin7748]

our cities used to be like that until the highway system was put into place because of the advent of motor vehicles. After that, they tore down and rebuilt our cities to be more car friendly and less walkable and public transportation.

[@ajgerbi]

Jennifer Tarin / That is.. false. The Highway System was built around cities in the US. No cities were tore down for highways and motor transport, most cities already had roads for carriages etc. highways are typically at the edge of a city, not through. I agree the public transportation needs to be improved in the cities in the US, but spreading false narratives is kinda stupid.

[@TheQuintessentialBM]

It's kinda hard to change major city infrastructure when it has already been established; it will get very costly. Sentimental & historic value is another reason why cities rarely change infrastructure; at most they'll repair it. If you ever been to a city with an elaborate & effective city transit system (subway & bus), you know how necessary it is to navigate the city, especially if you live there full time. Barcelona was the first city I ever visited that had such a system (I didn't travel much before then). It's expensive to live in Barcelona too! Just like NYC, Chicago, SF and ATL.... it cost money to live in cities where you have access to a lot of things. Cities like Dallas, Charlotte and Austin are next. This is why their rental and home costs are rising as well!

[@Amna1d]

@@ajgerbi CEO’s of motor vehicle companies lobbied for highway expansion so they could sell more cars to people

[@lessthantom2]

My rent costs less than 10% of my monthly income and I even hate paying it, I couldn’t imagine paying 40% of your income just to have a roof over your head.

[@QBALL85]

I like how the answer is just to increase the minimum wage. No discussion on how to lower the cost of living. Just pay people more money and keep raising the cost of living so it's always just out of reach.

[@papyrinez7883]

Great feedback ???? leave a direct msg, Let's communicate there about a more profitabIe aIternative for you.

[@patrickodonnell9388]

Rent is out of control do to greed!! This is why I bought a house because the payment is cheaper than rent.

[@zsam8095]

I live in the Baltimore/DC are and my apartment is going from $1600 to $2000+. My husband and I are both professional engineers and even at our salaries we are on the edge

[@asiam1528]

Same prices in Florida

[@RealLifeFinance]

@@asiam1528 Florida has gone boinkers

[@traditionalwomanmodernworl2267]

Wow sounds like you may be closer to DC or in Baltimore county. I live in Baltimore City and rent isn’t nearly that high most places except of course downtown and the surrounding communities

[@BlackGirlUnsolved]

Same prices in CT. Smh

[@edhcb9359]

If you and your husband are both professional engineers in Baltimore then $2k/month does not put you on the edge.

[@juliegolick]

Funny how the answer is always "get roommates" and not "retrofit McMasions so that they can support multiple smaller dwellings" or "no one is allowed a second home until everyone who wants one has a first."

[@rashadarbab2769]

most people dont have second homes to live in its usually for renting out to someone else. if we do that we would put a massive roadblock in the free market and it would get worse for everyone. A lot of landlords especially for houses are just simple families trying to scrape together money for a first rental property and a retirement nest egg.

[@AbsolutelyRedundant]

IKR! The problem is the zoning laws in US. They're mostly either low residential or commercial, along with that being bad for mental health and increasing racial inequality and inequality of other sorts , it makes it so you can't build low-mid rise homes. Just endless suburbia. Don't know what I mean? Look at the homes in Amsterdam. They're not skyscrapers, but they're not low residential homes that cost alot to build. (In other words, not as tight as a studio, not as big as a low-res home) 'Not Just Bikes' has a great video covering this. kzbin.info/www/bejne/eXSylYSpj8Zka9E Abolishing the extreme zoning laws, and parking lot regulations would help people in ways you can't even perceive yet!

[@beddythecorgi4269]

Not even mcmansions. There are a lot of older neighborhood houses that can be converted to multiple units. But getting roommate should be the default. Young single people don't need a 1b/1b . That type of rental unit is for "older" renters who can afford it. Media has convinced a generation they can have an uppermiddle class lifestyle when you are not uppermiddle class. We also are ignoring that boomers are hoarding housing stock at the expense of young families. Boomers have 2nd and 3rd homes. That needs to stop.

[@sm3675]

Yes! Old people are hogging all the homes!

[@danielmankinde1706]

@@beddythecorgi4269 yes you’re right. Anyone under 30 unless you make 100k!!! Get a damn roommate . People wanna work min wage and expect to afford a 2 br? And no boomers can own as much as they can . Cus owning real estate is actually keeping values up hence incentivizing developers to build and renovate more hence keeping jobs . Blocking second or third ownership doesn’t alleviate the supply because most of those housing aren’t even in high demand areas to start with.

[@podsmpsg1]

People keep electing people that want to raise property taxes, that's one big reason why.

[@Mulerider4Life]

The thing is, there is no incentive currently to really build more starter rental type units.

[@JoelTheSaunders]

my rent is going up $400 soon, everywhere else is charging more as well, i don't know what to do

[@dennelllancaster3047]

Rent control discourages developers from building new houses and apartments, as people are 20% more likely to stay in their current homes. I concur, because while rent increases at a rapid clip, an individual's salary does not. Paying someone $15.00 per hour will not cover rent for a single person or a family of four. There must be a balance between rent or mortgage payments and earnings. As I live in Arizona, the rental market is out of control, and the new apartments being built are all dubbed Luxury Apartments. There are no longer any affordable apartments. Additionally, existing apartments compete with the new luxury apartments by renovating the building and increasing the rent to keep up with the new apartments. This video discussed roommates. No adult desires a roommate. What does a 40, 50, or 60-year-old look like when they are forced to find a roommate in order to afford a roof over their heads? Organizations do not compensate their employees adequately to cover housing costs, and no one should be forced to work two or three jobs to make ends meet.

[@Yandel21ableify]

The New American Dream is to afford rent and food.

[@tiamarie1226]

Well said I agree 100% who wants a roommate their whole life and work 2 or 3 jobs

[@RealLifeFinance]

I was living in the south and moved back to seattle area. 1 bedroom apt rent is $1700 + utilities = $2k. Making $60k a year means rent is 50% of take home pay. WTF?!

[@Cometalktome]

@@RealLifeFinance lucky you can make 60k

[@YoungMonkei]

@@Cometalktome same i make 38k and im really struggling

[@taylorweick8688]

Gonzales, Louisiana just south of Baton Rouge gated “luxury” apartment 1 bedroom runs roughly $1300-1400. Don’t get me wrong it’s nice, gated, feels safe, has valet trash, but my goodness. And it’s insane that you have to make 3-4 times the rent to qualify alone or you’d have to get a co signer. I enjoy the apartment life, but obviously I’d like to get a house one day but everyday life is so expensive it’s hard to pay rent and save up thousands just for a DP on a home that is probably over priced or not built to last more than 20 years without major issues.

[@cristiansantos6267]

I live in Washington DC my rent is $1043.00 for a 1 bedroom. Rent control, older property, bad maintenance. I’ll hold on as long as I can though.

[@dflowers1477]

If it keeps up like this we’ll live like the rest of the world. Roommates and family members sharing rooms will become the norm.

[@tubby_1278]

It's already like that in Cali. You got 3 families sharing one house and like 8 working adults pitching in to pay rent and minimum wage ain't making the cut. Who the hell is fine paying $2000 for rent anyway? Reasonable price for rent is at about $900-1100 but you can't get that in Cali unless it's subsidized low income housing.

[@victorq4842]

@@tubby_1278 I pay 2k a month for a 1 bed room in LA. At this point I’m considering living ima van and save my money tbh

[@SWAGKINGSBD]

Or go to another country that puts value of life ahead of business evaluations

[@LucasDimoveo]

NYC has been like this for a while

[@RealLifeFinance]

100% and this is how it will be now

[@user-pv3rl2lv4p]

Wow and I thought this was only happening mostly in California, it’s literally insane how high rent is, And now that people can work from anywhere people that live in less densely populated areas will see there rent grow as well. It’s crazy

[@wturner777]

Supply and demand. That's just the way it is. Renting is getting more difficult, even more so with a previous eviction.

[@omarmoran3097]

Pack your things California is going to get worse from here on then.

[@ah2522]

@@omarmoran3097 given that CA housing is the hottest in the world right now, it directly contradicts your statement. People want to move to CA

[@sm3675]

Real estate agents are artificially inflating the market

[@highlymedicated2438]

@@ah2522 really? I live in the Bay Area and there is just no growth at all there's a lot of remodels. it it's hot because there is no new housing. People around the world aren't saying hey let's all move to the valley. There's so many states in this country that is outgrowing California

[@williammurray1341]

An unintended consequence of not enforcing eviction judgements.

[@kellymcginniss959]

Not just U.S, Australia is going through a rental crisis as well, my partner and I who are in our 40's and both work, recently had to move home with our 21 year old son to my parents house because we couldn't secure another affordable rental, and forget about buying, I worry for my sons generation, if we are finding it so hard now what hope do they have in the future??

[@wturner777]

The way things are going right now, I might as well become a truck driver and live in a truck full time, and start investing in myself and my future.

[@sm3675]

Take me with you 😭🤧

[@drlove994]

Great idea 👍

[@TimErwin]

The low wages of truckers and the constant sitting and truck stop food mean you wouldn't have much of a future.

[@Byrzzaa]

A little off topic comment but in my country there's a couple of lottery millionaires who still, or at least used to drive truck even after winning. I'm not sure if they do this anymore but remember when I read article years ago about the guy who had won in the lottery and still kept on driving truck. Then they mentioned in the article that there has been an other guy who also won in the lottery and kept driving in his own trucking company 😄. Gotta admit that that's some true love for your profession!

[@mikstratok]

and get replaced by self driving trucks in 5 years...

[@blarkin777]

One thing that hasn't been mentioned is Air bnbs eating up rental supply. May be a fraction of the overall issue, but in some places it's a problem

[@jonathanhenbest5962]

Seriously. The available long term rentals on Maui have gone to near. I thing because people can make 3-4x as much renting as a vacation rental.

[@tranderrick]

it only affects the types of homes on the market, we as a society have grown a custom to having nice things, if you go to alot of other countries, houses for rent and houses for short term rental are a class of quality apart. In the far but not to far future expect that if you are long term renting its gunna be a hole in wall in a box. Anything nice and unique and spacious is reserved for vacation rental.

[@Tkenny35]

@@jonathanhenbest5962 Youre right. I own 2 airbnbs in southern California and I make 3-4x renting as a vacation rental instead of renting to 1 family for a fixed price. In my defense, we are all trying to make money. Im not hurting anyone, causing any trouble for anyone, and just running my business. Ive created more job growth for my cleaner. She makes more money working for me then cleaning random peoples houses that are always a mess. Its also less work for her cleaning a vacation home since its not really that dirty and she makes more money with the constant turnovers. Also, a typical hotel room will cost the same as an airbnb. around $150-200 and with airbnb you get more for your money so im giving vacation travelers more space and bang for there buck. You cant compare the 2 really because running an airbnb is like running a mini hotel service. I turned my rental property into a hotel service and its made me more money, my cleaner more money, and ive made hundreds of families happy. I know because both my prpoerties have 5 stars LOL

[@gertrudewest4535]

No, the greedy middle class multiple property owners renting vacation homes are a HUGE issue.

[@Tkenny35]

@@gertrudewest4535 Well its a free market. The beauty of living here in the U.S. is you control your life. My family came here as refugees from the vietnam war. Started from the bottom and made it to the top from hard work as immigrants. All you do is complain and cry about why your life is unfair. Go take risks, invest, try to make it out from under instead of blaming the wealthy for your problems. Its the American dream. We escaped communism for this life. If you think we are "greedy middle class" then you should move to a country where your socialist/communist mindset exists and see why it never works.

[@muzerhythm2242]

One idea I wish someone would look into: The abandoned malls. Have an area (or first floor) shopping: groceries, clothing, ect. And another area (or 2nd floor) apartments. It's an opportunity being missed.

[@vhill5993]

The fact that you can work making decent money and still struggle to put a roof over your head is crazy. I know I want to move because there is nothing luxurious about it.