CNN: (Not exactly MAGA types) "Half of US tenants can’t afford to pay their rent."

[Gaius]

@Toll_Collector

Prices have skyrocketed here in NJ. Back in 1993 I almost rented a condo in Watchung. The development was called Stonegate. It was 850 a month for a 2 bedroom. That was less than two weeks net pay. The place is beautiful. Now they are going for 500k to 700k to buy one. I don’t even want to know what it is to rent one.

Here on the beautiful S Jersey shore prices have not moved a whole lot.

The biggest change (and it is very big) is how difficult it is to qualify as a tenant.
As near as I can figure, (and this is just a guess based on anecdotes)
something(s)about the COVID days created a large class of people who are willing to stop paying their rent and face eviction, at least, landlords believe that.

Landlords have not responded by saying “Well I’ll just raise the rent and take the risk,” they have responded by rejecting tenants.

[SixFoot]

@Gaius

Cheaper more-affordable housing is literally against the law in the US.

Everyone on the left has enough room to grow their own food, and they squander it like spoiled jackasses.

[Toll_Collector]

@Gaius

@Toll_Collector

Prices have skyrocketed here in NJ. Back in 1993 I almost rented a condo in Watchung. The development was called Stonegate. It was 850 a month for a 2 bedroom. That was less than two weeks net pay. The place is beautiful. Now they are going for 500k to 700k to buy one. I don’t even want to know what it is to rent one.

Here on the beautiful S Jersey shore prices have not moved a whole lot.

The biggest change (and it is very big) is how difficult it is to qualify as a tenant.
As near as I can figure, (and this is just a guess based on anecdotes)
something(s)about the COVID days created a large class of people who are willing to stop paying their rent and face eviction, at least, landlords believe that.

Landlords have not responded by saying “Well I’ll just raise the rent and take the risk,” they have responded by rejecting tenants.

I think I remember now, you’re in Cape May? I would love to live there. I collect Tolls in Bordentown. Way too far for me. If I transfer to the Parkway I can pull it off. But that’s not easy to do.

I don’t blame the landlords one bit. Were the Landlords given mortgage relief during that time? They had to be, right? Or else I don’t know how you can do it. But even if they were, you still have to pay that money at some point. You don’t have a choice. Renters can just skip. Then you have to chase them down.

[Gaius]

Just so we understand

Under Joe Biden
Hourly wages
have not kept up with overall inflation, nor with the inflation categories most important to the working classes.

But under President Trump
(and I am no Trump fan)
wage increases exceeded inflation in all three categories.

.
.
.
I am no Trump fan and I know that Presidents have a lot less to do with inflation than the Fed does, but . . . Them’s the facts. That’s what happened.