Half of the US can't afford to pay rents??? Hmm..tough to believe!.

[notagain]

The preservation of a countries wealth comes at the expense of the publics buying power.
Biden inflated housing, energy, food, while Trump only inflated stock prices.

 

[Specterx]

Nearly everyone who works can afford to rent something. eg a single room in a crowded shared house in a bad area.

The criteria is can you find something reasonable to rent paying 30% or less of your income. The article claims half of renters can not and have to pay well above 30%.

I guess historically way more people could find something much better for 30% or less of their income than now.

Its only going to get worse for renters while the Democrats keep the border wide open. But it is great for landlords.

Great for landlords? Where I live (coastal metro) rental yields have never been lower, at least during my lifetime.

In any case, the USA has plenty of land. The only actual shortage is desirable property in a desirable area - partly because such is always absolutely scarce (desirable is relative to some degree) and partly because only about 1% of American neighborhoods are walkable, convenient to jobs & amenities, aesthetically pleasing/attractive, and free of undesirable neighbors. But at the end of the day, those things are luxuries rather than the bare necessities of four walls, a roof and running water.

In other words and in my view, the apparently high rents are less about feudal exploitation of the workingman and more about aspirational upper-middle-class competition for status and luxury goods.

 

[murray t turtle]

Averages..... The average is more tilted towards Besos and Buffet.

%%
MAYBE;
+ how many home oWners get coffee @ home don't play the lotto[a stupid tax on people that cant do math] Wonder which group persistently pays credit card interest??
Dave Ramsey budget helps.[Edit ,wonder which group plays blame game= victim??]
Big difference in wise + stupid choices ..........

 

[Specterx]

I understand, we both worked as kids and did not live at home till 25 like them. I know a kid and his girl who live in San Jose. They make $300,000 and $250,000 and spend everything. No dam house, I gave up on telling them to stop going on trips, eating out every day, it’s infuriating! I would have had $1,000,000 in the bank if me and my first wife made $500,000 by year five.

The funny thing is that if they saved more, it would only mean stiffer competition to buy Silicon Valley houses and S&P 500 shares.

 

[kandlekid]

if they couldn't afford to pay rent, they wouldn't be tenants.

Here in NY (NJ) a landlord can't legally just throw out a tenant. There is an eviction process. Eviction easily takes months, possibly longer.

 

[murray t turtle]

The funny thing is that if they saved more, it would only mean stiffer competition to buy Silicon Valley houses and S&P 500 shares.

%%
THAT can be a good thing;
some people don't like to live in herd cities. Some do.
A herd is not an automatic bad thing , I like a herd of bison ,TX longhorns or water seals; polar bears have to eat very now + then LOL

 

[expiated]

If these consumers that make up 70% of gdp spending aren't paying rents then there has to be a story that's unfolding under the surface that no one has a clue about.

The article doesn't say they're not paying, it says they are paying more than they can afford, but perhaps someone else already pointed this out. (I only read the first few posts). It is possible to live beyond one's means—often for a relatively extended period of time—especially if relying on credit cards and/or loans from family/friends.

And from what I understand, there IS a story that's unfolding under the surface, but it's not the case that no one has a clue about it, because I've heard from various individuals who pay attention to such things of a number of warning signs that an eventual "collapse" is eminent.

 

[S2007S]

The article doesn't say they're not paying, it says they are paying more than they can afford, but perhaps someone else already pointed this out. (I only read the first few posts). It is possible to live beyond one's means—often for a relatively extended period of time—especially if relying on credit cards and/or loans from family/friends.

And from what I understand, there IS a story that's unfolding under the surface, but it's not the case that no one has a clue about it, because I've heard from various individuals who pay attention to such things of a number of warning signs that an eventual "collapse" is eminent.

Sounds quite wild, welll no need to worry since rates are at 5% the fed can have multiple emergency rate cut meetings to take the funds straight back to 0% on top of that they can issue more qe and free handouts to millions of Americans......the market would probably dip a few percentage points and skyrocket from there.

 

[S2007S]

The article doesn't say they're not paying, it says they are paying more than they can afford, but perhaps someone else already pointed this out. (I only read the first few posts). It is possible to live beyond one's means—often for a relatively extended period of time—especially if relying on credit cards and/or loans from family/friends.

And from what I understand, there IS a story that's unfolding under the surface, but it's not the case that no one has a clue about it, because I've heard from various individuals who pay attention to such things of a number of warning signs that an eventual "collapse" is eminent.

Also if anyone can afford cash advances and paying 18-30% APR I give them huge props.

Some.people don't mind having a credit card with a balance of a few thousand at 28%

 

[expiated]

Some.people don't mind having a credit card with a balance of a few thousand at 28%

According to Google (Capital One), here's the average:

Obviously, some people have a lot more and some people have a lot less.