40 Years of Rent vs Household Income #shorts

📈💸 Did you know in the last 40 years rents have skyrocketed 40% over inflation and 7% beyond income growth? But here’s a reality check – while rents are climbing, our wages, after adjusting for inflation, are creeping up by just 2% a year. It’s a tough pill to swallow, but being informed is half the battle! So, why are rents hitting the roof? 🏠 It’s all about supply and demand. Post-pandemic, everyone’s looking for their slice of space, but the building of new homes is lagging. This mismatch is squeezing our wallets, especially in the city. It’s a challenging market for sure, but understanding these trends is our first step in navigating these financial waters more effectively! 🌊 Stop paying someone else’s mortgage. Buying a home has many benefits on top of having a place to call your own. Your rate is locked in, meaning no more payment increases. You receive thousands in tax breaks each year. AND you’re building equity as home values g