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Half of US tenants can’t afford to pay their rent. Here’s what’s ahead (www.cnn.com)

submitted 9 months ago by [email protected] to c/[email protected]

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[–] [email protected] 32 points 9 months ago* (last edited 9 months ago) (6 children)

But an increase in the construction of multiple-unit buildings has boosted the supply of apartments, which is slowly beginning to rein in runaway rents.

Oh cool, that means rent prices are going down, right? Supply and demand and all that.

The median asking rent was $1,713, which was down $4 from November and down $63 from the July 2022 peak.

Small gain, but I'm sure it's relevant in context.

However, median rent is still $309 higher than the same time in 2019, before the pandemic. That’s a 22% increase.

Oh.

How the fuck aren't Statesians living in constant rent strikes?

[–] [email protected] 24 points 9 months ago

Learned helplessness, lack of knowledge that it isnt normal, thinking everyone else has it worse, etc. There's a reason communists of old put so much emphasis on education. This is one of them

[–] [email protected] 22 points 9 months ago (2 children)

Because an individual going on a rent strike just gets evicted and doing anything as a group is literally stalinism

[–] [email protected] 8 points 9 months ago

doing anything as a group is literally stalinism

I wonder why all these young people are depressed. Maybe it's the lack of community, or their material conditions?

Nah, they just need to do legal weed. Not as a group passing a blunt while socialising, alone at home with isolated CBD drops.

[–] [email protected] 5 points 9 months ago

Same in Poland, though we aren't nearly close enough to the US level of rent madness. We are going in the exact same direction though.

[–] [email protected] 12 points 9 months ago

If there's one thing we can trust it's that the people charging the high rents really want to, and one day will, build so much extra housing that rents will come down. We just need to be patient because while they are trying, they can't do it whi

[–] [email protected] 11 points 9 months ago

Because then the sheriff comes. You lose all your possessions, and you are made homeless all in the span of less then a week.

Someone new will be living where you were in less then two weeks, sometimes two days.

[–] [email protected] 9 points 9 months ago

I thought tipping landlords was a joke but no. People brag about how much they tip.

[–] [email protected] 8 points 9 months ago

Oh cool, that means rent prices are going down, right? Supply and demand and all that.

Nope, they are being built specifically because the rent is high, meaning that housing is a profitable investment! Liberal economics are so much fun because they are a fantasyyyy ✨

[–] [email protected] 16 points 9 months ago (1 children)

Wanted to check in with my USian friends, one told me he was paying 950 before the pandemic, is 1400 go up to 1500 in a few months. I sent him my condolences.

[–] [email protected] 13 points 9 months ago* (last edited 9 months ago)

That is very cheap rent in the vast majority of places in the US with actual jobs. Anywhere you can get a job better then McDonalds in the US, the rent is easily 2,000-2,500+

[–] [email protected] 8 points 9 months ago

The acceleration of the US' collapse = rent in mph².

[–] [email protected] 6 points 9 months ago

mao-aggro-shining