Rents have exploded across the country, causing many to fall behind on payments, dig deep into their savings or downsize to subpar units.
With soaring demand, microchip shortages and supply chain issues, buying a new car has never cost more.
Economists worry about the impact of rent increases on inflation because the big jumps in new leases feed into the U.S. consumer price index, which is used to measure inflation. Things have gotten so bad in Boston, which has nearly overtaken San Francisco as the nation's second-most expensive rental market, that one resident went viral for jokingly putting an igloo on the market for $2,700 a month."Heat/ hot water not included," Jonathan Berk tweeted.
According to the U.S. Census Bureau, rental vacancy rates during the fourth quarter of 2021 fell to 5.6%, the lowest since 1984.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Philanthropy For U.S. Colleges Up 6.9% In 2021; Tops $52 BillionPhilanthropic giving to U.S. higher education institutions exceeded $52 billion in fiscal year 2021. That's a 6.9% increase over 2020.
Read more »
Medium US rent prices rose nearly 20% in 2021; experts say no end in sight for 'insane' levelsExperts say many factors are responsible for astronomical rents, including a nationwide housing shortage and low rental vacancies.
Read more »
BTC helped us unseat a 20+ year incumbent: Aarika Rhodes on Bitcoin DayRhodes believes that the role of local businesses in expediting BTC’s mainstream adoption is “a simple matter of economics.”
Read more »
Gold Price Forecast: Gold to Outperform on Rising US InflationData prints coming out of the US may keep the price of gold afloat as the Fed’s preferred gauge for inflation is expected to increase for the fifth consecutive month. Get your weekly gold forecast from DavidJSong here:
Read more »
Rents reach 'insane' levels across US with no end in sightRents have exploded across the country, causing many to fall behind on payments, dig deep into their savings or downsize to subpar units
Read more »
Rents reach 'insane' levels across US with no end in sightKrystal 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.
Read more »