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News@lemmy.world · 8 months ago

Renters need to make roughly $20,000 more a year to afford the typical rent than they did 5 years ago

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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

return2ozma@lemmy.world to

News@lemmy.world · 8 months ago

“Since pre-pandemic, the income needed to afford rent has increased by 31.5%,” Zillow’s chief economist, Skylar Olsen, wrote yesterday.

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7 months ago
I did read my sources, because when I said we beat inflation, that’s what my source says

Decades of stagnant wages

Good news, we had more than a decade of growing wages (the COVID spike is due to compositional effects)

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