Premium Only Content
![[With Subtitles] 51 Million Americans Struggling With Rent Increases As Prices Soar 400%](https://1a-1791.com/video/fw/s8/1/K/Q/a/6/KQa6r.qR4e-small-51-Million-Americans-Strugg.jpg)
[With Subtitles] 51 Million Americans Struggling With Rent Increases As Prices Soar 400%
A new migrant crisis is brewing in the United States. Unlike the one at the southern border, this one will be all over the country.
Evictions are rising rapidly as millions of Americans face soaring rent increases driven by inflation, a shortage of affordable housing, and the end of pandemic relief. Rent prices are now 31.4% higher than pre-pandemic levels, with the median rent surpassing $2,000 in May 2024, according to Zillow.
This explains why a quarter of U.S. renters say they can no longer afford rent, and about one in five plan to move back in with parents or friends, according to a study by Intuit Credit Karma. "The current housing market has many Americans making adjustments to their living situations, including relocating to less expensive cities and even moving back in with their families," said Courtney Alev, consumer financial advocate at Intuit Credit Karma. "What's most concerning is that rising housing costs aren't just impacting younger generations, but older generations, too."
Alev noted that while rent prices have been surging in most parts of the country for a while, Americans have also had inflation, higher borrowing costs and record-high credit card debt to contend with. That's on top of federal student loan payments that resumed in October. No wonder why so many Americans are feeling pessimistic about the economy.
Earlier this year, a Harvard study found that half of the country’s 102 million renters spend a third or more of their income on housing. In other words, about 51 million households are currently cost-burdened by rent. Whitney Airgood-Obrycki, a senior research associate at Harvard, said, "It’s one of the worst years we’ve ever seen." She added that the number of Americans spending 30% or more on rent in 2024 had not been seen since the Great Recession in 2008, when 10 million Americans lost their homes to foreclosure.
-
3:16:02
Barry Cunningham
6 hours agoNEWS ON THE PLOT AGAINST THE PRESIDENT AND IT'S A MOVIE NIGHT!
87.5K53 -
2:00:32
Glenn Greenwald
9 hours agoWorld Finally Horrified by Israel's Atrocities in Gaza; Mass Starvation Expert Warns of Spiraling Crisis in Gaza; AOC Votes to Fund Israel's Iron Dome | SYSTEM UPDATE #489
92K135 -
LIVE
Spartan
6 hours agoSpartan - Pro Halo Player for OMiT | Scrims vs OMiT Black
364 watching -
2:47:11
crgoodw1n
5 hours agoMonday stream Pt.2! Max Traders are almost here!
21.2K1 -
1:28:30
Gurk
4 hours ago $0.58 earnedMLB CO OP
25.8K -
1:46:27
Tim Pool
13 hours agoSin Frontera: The End of Illegal Immigration
201K66 -
3:42:40
VapinGamers
5 hours ago $1.36 earnedDestiny 2 - Edge of Fate Legendary Run and AD Testing RTMP Pass Thru - !rumbot !music
22K3 -
2:24:23
Joker Effect
5 hours agoULTRA MEGA STREAM! Let's review things... Also... Joker was right... again! What a surprise :) Also.. what the heck is @NetAxisGroup ?
15.3K -
1:01:11
Jamie Kennedy
1 day agoWhy the Epstein Cover-Up Still Matters | Ep 214 HTBITY W Jamie Kennedy
15.8K3 -
2:11:56
LIVE WITH CHRIS'WORLD
1 day agoLIVE WITH CHRIS'WORLD - WE ARE READY FOR ACCOUNTABILITY
11.5K7