People are still hurting from the negative consequences of the government’s lockdowns, company closures, vaccine requirements, and other useless edicts enacted in the name of combating COVID.
Everything is becoming more pricey as a result of all the left-wing spending laws enacted after the inflation crisis of 2021.
The government, it turns out, cannot spend its way to economic growth. In fact, when the government gets out of the way and lets the free market work its magic, the economy thrives.
Nonetheless, due to inflation, rent is becoming far more expensive than the average American can afford.
In the United States’ 50 largest cities, the cost of rent has increased by 20% in the last year. Rents have risen by as much as 25% and 27% in some locations.
Landlords are in a strong position to boost their rates because there are fewer rental vacancies than in previous years.
Similarly, due to continued inflation and different eviction moratoriums that previously prevented landlords from collecting dues owed from their tenants, many property owners may genuinely require the additional cash.
Renters around the country may expect their monthly dues to rise considerably more if inflation continues to rise at its current rate.
Today's housing market:
— Kentucky hills (@Ky_hills) February 15, 2022
Cozy fixer upper, $6,500,000.00 pic.twitter.com/ev4d8Hi0Oq
The increasingly volatile nature of the rental market is a reflection of the property market’s flip in the United States last year.
In 2021, tales of properties selling for three to four times the initial asking price immediately went viral. Then, in some regions of the country, even finding homes for sale has grown more difficult.
The housing market does not appear to be slowing down anytime soon, given the current rate of inflation. Indeed, the current state of the housing market in the country is so flammable that some people have gone to social media to express their desire for the market to crash completely.
