Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago
Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago
“Since pre-pandemic, the income needed to afford rent has increased by 31.5%,” Zillow’s chief economist, Skylar Olsen, wrote yesterday.
If you don't have a home now you soon won't be able to buy one for a very long time.
38The cost of housing in my city, relative to median wages, is the highest it's been since interest rates were 18%+, and it ain't much better in any major city I can find work.
I think the ship has sailed on that one.
17You don’t need shelter snowflake. /s
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this thought pushed us to buy this year. Some instantly started mocking us for buying while rates are 6% - but nothing I can see on the horizon is going to halve rates in the near future.
2And if they do by some stroke of luck you can refinance
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Yeah, my boyfriend and I are in our mid twenties and still not moved out of his parents' house, but we just made an offer on a house and it was accepted, so fingers crossed.
Shit is already so rough, and yet it doesn't seem like it'll get better. It's a shame, really.
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US income distribution is on the same level as Russia.
28The two countries: US and Russia.
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This is the stuff I think of whenever someone says "America is the land of the free".
We're really not. We're the land of working paycheck-to-paycheck. It's been eight years since we learned that 40,000,000 people can't afford a sudden $400 expense.
It's a shame. This is what's going to get a legit fascist elected in November.
24Maybe his supposed super cities with VTOL, and affordable housing become a thing? LMAO
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That means you would need a $9.61 per hour raise @40 hours a week, 52 weeks a year to get $20,000 before taxes.
21Good luck getting 40 hours a week
8My yearly income is US$10k. It's insane.
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In the meantime, our far-right US Supreme Court is on the verge of allowing cities to criminalize homelessness.
11Wrong. The far right is suggesting it and the mid is allowing it.
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