The national median monthly mortgage payment for homebuyers rose twice as fast in March
Rent prices across the U.S. climbed to record highs in March largely because an increasing number of potential buyers are being pushed out of the market, according to a new report.
The median monthly asking rent increased 17% compared with a year ago, to $1,940, according to real estate brokerage Redfin. This marked the largest annual jump since February 2020, according to Redfin’s data.
The price and demand for rentals have surged as “many potential first-time homebuyers are quickly being priced out of the market by record-high home prices and fast-increasing mortgage rates,” Redfin chief economist Daryl Fairweather said in a statement.
That is why so many young people are still living at home with their parents or are moving back in.
I know I personally would not be able to afford an apartment or home at todays high prices. Incomes haven’t kept up with inflation. I am blessed my house is paid off, because if it wasn’t, I would be working two jobs. There are many I work with who are doing just that.
And all the politicians aren’t worried about that anyway cause everyone of them are making all the coins (or shall I say steeling )
Not the real working men
America Gone to Hell until Democrats are Removed !!!!! Time for Americans to Revolt !!! Save America !!
Wait a minute here. The Endless Summer of 2022 starts in 4 weeks. You mean there is not affordable housing here on the island OR on the outskirts?
So where is the summer “help” going to live? Is OC City Hall aware of this breaking news?
SARCASM OFF!