At our bank. we are already seeing an increase in loan defaults as folks struggle to pay their mortgages and loans while trying to afford the increases in food, electricity, oil, gas, water bills.
It's going to get so much worse.
It's going to get so much worse.
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Who will afford the rents???
Property taxes high
Energy rates high
Insurance rates high
But sure
Let’s give the RICH THEIR UNFAIR SHARE
Average rent is $1700/mo so folks can't save enough to afford a $60,000 down-payment on a $300K home w/an average mortgage of $1200/ mo. The American dream of home ownership is dying.
Multigenerational homes made it possible for folks to save money so that they could afford a home. High rents prevent folks from saving for a home of their own.