GoFundMe has observed a 40 percent increase in eviction fundraisers compared to pre-pandemic levels, as struggling renters seek help from strangers.
For Michelle and Ken Lau, a married couple living in Las Vegas, Nevada, with their two young children, relying on the kindness of strangers on GoFundMe to raise enough money to avoid eviction was really a last resort.They never imagined they'd find themselves in a situation where they could lose their home.
Meanwhile, the cost of housing has increased—mortgage rates are still hovering around the 7 percent mark, home prices remain relatively high despite growing inventory, and home insurance premiums are climbing in the country's most vulnerable states.The median sale price of a home in the U.S., as of May, was $438,483, up 4.8 percent compared to a year earlier, according to Redfin data. The median asking rent in the same month was up 0.8 percent year-over-year, at $1,653.
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