A new study finds that half of America's renters cannot afford housing. Of course, assuming they can find housing, the country is in short supply, in part due to the border crisis Biden is facing.
The study's data goes back to 2022, but not much has changed since then in terms of the economy or the amount of housing available.
If anything has changed, it's that rents have risen dramatically.
Breitbart News reports:
Study: Housing is unaffordable for a record half of renters in America, President Joe Biden
Researchers say that in 2022, half of the people in the United States who rent a place to live used a significant portion of their income for rent and utilities.
In its article published Thursday, NPR cited a recent report from Harvard University's Joint Center for Housing Studies regarding the desperate situation hurting people across the country.
The center's report found that in 2022, “as rents rose during the COVID-19 pandemic, half of renters in the United States paid more than 30% of their income for rent and utilities.” Nearly half of these people were severely cost-burdened, paying more than 50% of their income.
“We actually saw increases in every income category that we look at, which kind of surprised us,” says Whitney Ergood-Obryke, a senior research associate at the center and lead author of the report.
Since 2019, the biggest jump in unaffordability has been for households making $30,000 to $74,999 a year. Even among those who work full-time, a third of renters are still burdened by costs.
It's a simple mathematical problem.
Guess what would happen if you let 10 million fake refugees into your country?
Rents rise for everyone at the bottom and wages fall because there is too much unskilled labor.
Bioeconomics pic.twitter.com/0JqryUusIm
– Wall Street Silver (@WallStreetSilv) January 26, 2024
#newAverage rent for a one-bedroom in:
New York: $4,040 per month
Jersey City: $3,220
Boston: $3,000
San Francisco: $2,950
Miami: $2,690
San Jose: $2,450
Los Angeles: $2,390
San Diego: $2,330
Wash, DC. $2290source: @Zomber
-Scott Budman (@scottbudman) January 24, 2024
America needs more housing and secure borders if we are to overcome this problem.
