According to a recent study from Zillow, the typical "starter home" is worth at least $1 million in 237 cities, the highest number of cities ever. Plus, almost half of those cities are in California.
I actually think we need to cap rent increases to about 2%. In a little over 14 years, your rent doubles at 5%. So $2.5k/mo becomes $5k/month- $60k/year! Since wages have largely stagnated, most renters would be in an even worse place (although definitely better than 10% increases).
I actually think we need to cap rent increases to about 2%. In a little over 14 years, your rent doubles at 5%. So $2.5k/mo becomes $5k/month- $60k/year! Since wages have largely stagnated, most renters would be in an even worse place (although definitely better than 10% increases).
I’m down for 2% 😁