The Rising Costs Of Rent And The Housing Crisis Explained
This crisis is affecting the majority of the population
Rent keeps climbing, wages keep lagging, and for a lot of Americans, the math just does not work anymore. Between housing costs, debt, and everyday bills, even a basic paycheck can disappear fast.
This story centers on a viral tweet that laid out just how brutal the housing squeeze has become, especially for people trying to save, pay rent, and stay afloat at the same time. The reactions that followed show how personal the crisis feels for anyone stuck in the middle of it.
And once the numbers start piling up, the frustration gets hard to ignore.
A person making $50k a year has less than half their salary left to spend after paying rent
This is a generous look at this rental crisis, too. Most people don't make that much, and most rentals are not that affordable.
Hawthorne_Rob4Twitter user did some sobering math
LukeJohnson2014The numbers hit hard right away.
The picture attachments from the tweet
LukeJohnson2014
Renting quickly adds up to a substantial amount of money that could otherwise be used towards a down payment, if you didn't have to spend a large amount of your income on rent
ohterrysogross
I tracked down the TikTok from the screenshot for your viewing pleasure
Do landlords even make 2-3 times the amount of their rent?
CJHoward428
That question keeps coming up for a reason.
It’s the same kind of roommate tension as a debate over splitting rent unequally by income.
Application fees are a scam
MemphisBelle111
Government assistance doesn't help above a certain income bracket, and it doesn't factor in the cost of living or expenses like debt
nix973
The federal minimum wage hasn't changed since 2009
CaliKJ1
For reference, here's how the federal minimum wage has changed since 1980, with an inflation adjustment included
infoplease
We should’ve listened to him in 2010
yourpointismoot
The rent is too damn high
tenor
Naturally, the data brought in the tired criticisms of “move out of the cities,” as if it’s that simple. Besides relocation being cost-prohibitive for a lot of folks, what with these low wages and rising costs we’ve been discussing, cities have more jobs than rural areas.
We're stuck paying over 30% of our income solely on housing, which doesn't leave a whole lot for basic survival. We have to be able to purchase food and clothing, afford utilities, and either have a vehicle or access to public transportation to get to work.
If we're lucky, we have to be able to pay for preventative medical appointments, and god forbid you or those in your care get sick or have any sort of emergency. It's no wonder so many Americans are in debt.
The rent is too damn high.
After doing the rent math, check out an AITA roommate fight over not splitting rent equally.
