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| Economy |
| Rents reach ‘insane' levels across US with no end in sight |
| 2022-02-21 |
| [AP] Krystal Guerra’s Miami apartment has a tiny kitchen, cracked tiles, warped cabinets, no dishwasher and hardly any storage space. But Guerra was fine with the apartment’s shortcomings. It was all part of being a 32-year-old graduate student in South Florida, she reasoned, and she was happy to live there for a few more years as she finished her marketing degree. That was until a new owner bought the property and told her he was raising the rent from $1,550 to $1,950, a 26% increase that Guerra said meant her rent would account for the majority of her take-home pay from the University of Miami. "I thought that was insane," said Guerra, who decided to move out. "Am I supposed to stop paying for everything else I have going on in my life just so I can pay rent? That’s unsustainable." Guerra is hardly alone. Rents have exploded across the country, causing many to dig deep into their savings, downsize to subpar units or fall behind on payments and risk eviction now that a federal moratorium has ended. In the 50 largest U.S. metro areas, median rent rose an astounding 19.3% from December 2020 to December 2021, according to a Realtor.com analysis of properties with two or fewer bedrooms. And nowhere was the jump bigger than in the Miami metro area, where the median rent exploded to $2,850, 49.8% higher than the previous year. |
| Posted by:Besoeker |
| #9 Surprisingly, shouting that "Housing is a human right!" did not produce more housing. |
| Posted by: Matt 2022-02-21 10:06 |
| #8 /\ 'Section 8' housing to an entirely new level. |
| Posted by: Besoeker 2022-02-21 07:55 |
| #7 A great time to be renting to recently imported "interpreters" whose rent is paid directly by the gummint... |
| Posted by: M. Murcek 2022-02-21 07:53 |
| #6 /\ Conspiracy theories. Little more than conspiracy theories. [sarc off] |
| Posted by: Besoeker 2022-02-21 07:42 |
| #5 Gee, do you think there's any relation to the recently-discontinued rent moratorium based on the deadlycoronavirus pandemic? Or is it just inflation due to the profligate spending because of the deadlycoronavirus pandemic? |
| Posted by: Bobby 2022-02-21 07:37 |
| #4 /\ And this drives up the prices of what is available, own or lease. |
| Posted by: Besoeker 2022-02-21 07:22 |
| #3 It's It's call supply and demand. Florida and Texas are suffering from an uncontrolled influx of neo-Socialists who crapped in their old nest and seek a new one to despoil. |
| Posted by: Procopius2k 2022-02-21 07:02 |
| #2 ...Well, for one, I see rent controls making a comeback, because the people most likely to suggest them are the ones least likely to understand the effects. Mike |
| Posted by: Mike Kozlowski 2022-02-21 06:44 |
| #1 So with MID-TERM months away and the Liberal-Socialist-Democrats way behind in the polls? Should we expect to see a $100 billion in shifted funds called the "Shelter America" Emergency Act bill suddenly appear. AKA "House the poor for votes" stunt? |
| Posted by: NN2N1 2022-02-21 06:00 |