Another day another article. Tough to believe such a significant amount of renters can't afford to pay rent when everything on wallstreet is another party and another historical record after record after record. If these consumers that make up 70% of gdp spending aren't paying rents then there has to be a story that's unfolding under the surface that no one has a clue about. Half of US tenants can’t afford to pay their rent. Here’s what’s ahead https://www.cnn.com/2024/01/30/economy/rent-prices-dropping-2024-apartments/index.html
Rent is very expensive, especially in NYC and nearby. But how many of the same people buy all their meals out, pay for coffee and water while at work? $20 of food and drink a day is about $5000 a year ($20*5*50). Then, go to bars after work and gamble on sports. Most of these same people do not know how to save. I got married young, around 24. I lived home with my parents until then to save money. I brought my lunch to work and keep my expenses low so I could save money and still enjoy going out with friends. My first full time job only paid $16,000/year back in 1982- good for the time. I quit that job to take a job on the floor which I started at $250/week. We all have to make choices.
Since they can't afford to pay the rent, where do they stay? In the public park? Or is it because they lost tons of money from trading ended up unable to pay the rent?
No inflation, I bought a acre for $8,000 in 85. Someone offered $700,000 in 2018, I was making $5 a hr in the oil fields. My ex said it’s worth $1.3, who knows? No inflation!
What boggles the mind is the claim that inflation is going down. Only in the planet Pluto does Bidenomics work and there is no inflation. After all, Joe Biden is doing a hell of job running the US into the ground. Those in the left are completely delusional half wits. That is beyond doubt. Rent is the last thing to worry about when the IRS auditors, all 87,000 of them start going after progressive and liberal left average joes like the fools in Joe Biden's world. They will show you no mercy too because someone has to pay their salaries.