A new study has found that half of renters in America cannot afford housing. Of course, that’s assuming that they can find housing, the country is experiencing a shortage, due in part to Biden’s border crisis.
The data from the study is from 2022, but not much has changed since then in terms of the economy or the amount of available housing.
If anything has changed, it’s that rents have gone up considerably.
Breitbart News reports:
Study: Housing Unaffordable for Record Half of Renters in President Joe Biden’s America
Researchers say that in 2022, a record half of people in the United States renting a place to live used a massive chunk of their income for rent and utilities.
In its article, published Thursday, NPR cited a recent report from the Joint Center for Housing Studies of Harvard University regarding the desperate situation that is hurting people across the nation.
The center’s report found that in 2022, “as rents spiked during the COVID-19 pandemic, a record half of U.S. renters paid more than 30% of their income for rent and utilities. Nearly half of those people were severely cost-burdened, paying more than 50% of their income,” the NPR article continued:
“We actually saw increases across every single income category that we look at, which sort of surprised us,” says Whitney Airgood-Obrycki, a senior research associate with the center and the report’s lead author.
Since 2019, the biggest jump in unaffordability was for households making $30,000 to $74,999 a year. Even among those working full time, a third of all renters were still cost-burdened.
It’s a simple matter of math.
Guess what happens if you let 10 million fake refugees into your country?
Rent prices goes up for everyone at the bottom and wages go down because there is plenty of unskilled labor.
— Wall Street Silver (@WallStreetSilv) January 26, 2024
#New: Average 1BR rent in:
New York: $4,040/mo
Jersey City: $3,220
San Francisco: $2
Source: The Gateway Pundit