In a troubling revelation from the latest housing reports, the enduring rise in rent inflation combined with rising mortgages has led to what experts describe as the biggest housing affordability crisis in decades. last 40 years

CNN’s Bidenomics Update: pic.twitter.com/PYCMoQT77f

— Red Voice Media (@redvoicenews) August 19, 2023

Go ad-free, get exclusive shows and content, go Premium today – $1 trial

The driver of this alarming trend appears to be persistently rising rental costs, which have remained “sticky,” meaning they are resistant to decline despite changing market conditions. This has made it very difficult for the average American family to find affordable housing options.

Also, the steep incline in mortgage rates only adds fuel to the fire. The American dream of home ownership is becoming more and more difficult for many. As these costs rise, potential homeowners are priced out of the market, leading to a decrease in property rates and an increase in rental demand. This situation, in turn, causes even more upward pressure on rental costs.

The vicious cycle of high rents and rising mortgage rates only exacerbates the struggles of many American families, further widening the gap between the haves and the have-nots in the housing market.

Follow us on Rumble

Clearly, a long-term solution is needed to deal with this deepening crisis.

Senator Kennedy: Bidenomics is selling your blood for groceries [VIDEO]

Follow us on Twitter

The opinions expressed by contributors and/or content partners are their own and do not necessarily reflect the opinions of Red Voice Media. contact with us for guidelines for submitting your own comment.