I wanted to post this here and see what other landlords, real estate investors, etc in this forum had to say about it – do you think it’s right? do you think it’s fair? is it wrong?
https://www.cbsnews.com/news/rising-rent-prices-60-minutes-2022-03-20/
I caught this segment over the weekend, and personally found it quite informative and very eye opening. It was surprising to see that the effects of the rising prices are even spreading to other low-cost of living areas in the US – making me wonder, when will it just be at a point where the entire country is inflated for living costs. Seems like soon we’ll be in for a moment where people are having to spend 50% of their income just to afford some basic living quarters. My s/o and I are looking to buy property but it has been an insanely difficult process for our first time as competitors are bidding $100-200k above asking in some cases. Can’t imagine how hard it’ll be for those 5-10 yrs down the line.
I would have to say as a millennial this makes me feel very disheartened for the future. Especially the comments from the guy at the end about, “…if you can’t own the American dream, you can rent it.”
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