Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago

return2ozma@lemmy.world to News@lemmy.world – 766 points –
Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago
fortune.com
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I really don't know how people are existing in today's hellhole of a capitalistic landscape. I'm fairly lucky with a good-paying job and a lowish house payment. I'm still paying a lot more for food and whatnot than I did before covid.

I always think the same and can't stop feeling bad. I used to live in an apartment the payment kept creeping up until I said fuck it and bought a house 6 years ago. My mortgage is $1000. People now pay $2000+ a month for an apartment. This is a fucked time to be a renter.

I feel the same way. Our mortgage is $2K/mo for over 3K/sqft. Apartments around here start at $1500 for a studio … poor bastards indeed.

Why do people always turn these posts into opportunities to brag about how low their house payment is?

I don't see it as that, it's just a comparison to show how fucked up things are now.

Believe me I'm super bitter about being getting fucked on rent and being priced out of buying, but I dont take those kinds of comments as rubbing it in, just providing context.

I think Biden is giving out money for first time home buyers. I read that somewhere. An article mentioned it was like $400 a month for 2 years for first time home buyers to help them afford this shit. I mean a better fix would be stop all these corporations buying up houses and making it very expensive for others to buy, but I guess better than nothing?

That wasn't my intentions, and I apologize if that has stepped on someone's toes. I'm just mentioning how things have changed. I don't think a mortgage payment is something to brag about, not for me at least. Hell, I'm still a broke ass mo fo who's living paycheck to paycheck trying so hard to raise two kids.

Let's flip it this way. My rent was 1500 a month, and it was going to go up 13% this year. I bought a house this year instead, 2500 a month. In 5 years, that shithole apartment will cost more than my house.

People aren't bragging about how low their house payments are, their warning everyone about how shitty apartment price gouging is.

The human race is truly fucked ain’t it? We are all out for ourselves. Nothing will ever change.

What single contributing factor would you say carries the most weight? Throughout history there has been inequality, but never like this. Even medieval peasants worked less than modern Americans.

I think it’s our survival instinct to hoard. I don’t think we’ve evolved to live in such a massive civilization. We weren’t meant to live this way.

I do think this level of equality would exist in older times if they knew they could get away with it.

However the scale at which we live (the global economy) is so much larger that it’s easier for them to extract and hoard wealth. In older times our communities were much smaller. The consequences for fucking around were a lot higher because it was easier for the poors to hold them accountable.

Source?

Thanks, the medieval worker put in much longer work hours, which is interesting

Look at the column for medival worker vs. peasant

You cherry pick data to fit your narrative

What narrative? This is the first time I see that link

The commentor you're talking to has a bad tendency to change his/her original comment multiple times and then tries to gaslight people. Don't take the chud serious.

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I think at this point, all of us poors are just crossing our collective fingers and hoping the rent doesn't go up, we don't lose our jobs and we don't have to move for any reason. I'm hoping my landlord turns out to be immortal right now. "Affordable" units in the hood here are going for $3,000+, and you need to make less than the equivalent of minimum wage at a full-time job each to qualify for them. We stumbled our way into a three-bedroom apartment in a nice neighborhood for $2,200/month, and he hasn't raised the rent at all. The people who lived downstairs before said he charged them the same rent for close to 10 years before they moved out, so hopefully that streak will continue. Just have to worry that he'll die and whoever inherits the house comes in and jacks up the rent once they can, in which case we'd definitely need to move pretty far away to be able to afford something.

My SO and I live in a 4 bedroom house with 4 other adults in their 30's. I haven't had this many roommates since I was 17, but I'm finally making some progress on my ridiculous medical debt. Best country in the world.

Of course you're paying more, it's called inflation. You also have a higher income than you did before COVID, but you didn't mention that

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