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return2ozma@lemmy.world to News@lemmy.world · 1 year ago

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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  • cross-posted to:
  • housing_bubble_2@lemmy.world
  • aboringdystopia@lemmy.world
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Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago

fortune.com

return2ozma@lemmy.world to News@lemmy.world · 1 year ago
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154
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  • cross-posted to:
  • housing_bubble_2@lemmy.world
  • aboringdystopia@lemmy.world
“Since pre-pandemic, the income needed to afford rent has increased by 31.5%,” Zillow’s chief economist, Skylar Olsen, wrote yesterday.
  • penquin@lemm.ee
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    • QuarterSwede@lemmy.world
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      1 year ago

      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.

    • StereoTrespasser@lemmy.world
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      1 year ago

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

      • Asafum@feddit.nl
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        1 year ago

        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.

        • penquin@lemm.ee
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      • penquin@lemm.ee
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      • Bytemeister@lemmy.world
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        1 year ago

        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.

      • DominusOfMegadeus@sh.itjust.works
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        1 year ago

        Agreed. Sign me up for one of these $1000 a month houses please

      • Coreidan@lemmy.world
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        1 year ago

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

        • Beetlejuice001@lemmy.wtf
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          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.

          • Coreidan@lemmy.world
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            1 year ago

            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.

          • iopq@lemmy.world
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            1 year ago

            Source?

            • Beetlejuice001@lemmy.wtf
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              1 year ago

              https://www.theladders.com/career-advice/the-average-american-worker-puts-in-more-hours-than-a-medieval-peasant

              Edit:lol downvoted for posting a source.

              • iopq@lemmy.world
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                1 year ago

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

                • Beetlejuice001@lemmy.wtf
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                  You must have some reading comprehension problems or you’re simply arguing in bad faith. I suspect it’s the latter

                  https://www.adamsmith.org/blog/regulation-industry/medieval-peasants-really-did-not-work-only-150-days-a-year/

                  https://www.grunge.com/847151/medieval-peasants-may-have-worked-less-than-modern-americans/

                  https://groups.csail.mit.edu/mac/users/rauch/worktime/hours_workweek.html

                  https://historycollection.com/medieval-peasants-worked-fewer-hours-than-modern-americans/

                  https://allthatsinteresting.com/medieval-peasants-vacation-more

                  • iopq@lemmy.world
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                    1 year ago

                    Look at the column for medival worker vs. peasant

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