It's probably time to start framing this stuff in terms of war on the middle and working classes, in line with our new favorite comment on politics and policy:
—Franklin D. Roosevelt
We've seen the Zillow numbers and Apartments.com surveys that showed the same situation.
Here's one I was not familiar with, via WolfStreet, January 31:
Dear Mr. Fed Chair Powell Sir, Rents Are Blowing Out and People are Hurting
In 34 of the largest 100 cities, rents spiked by 15%-28%. Tenants get to pay for your reckless monetary policies that made the wealthy far wealthier.
In January, the median asking rent for one-bedroom apartments increased by 10% or more in 56 of the 100 largest cities in the US, compared to a year earlier. In 34 of the 100 largest cities, one-bedroom rents spiked by 15% or more. In 20 of those cities, rents spiked by 20% or more, and in 11 of them, rents spiked by 25% or more. Many of the cities with the largest year-over-year rent spikes are medium-size cities with more modest incomes.
At the top is Fresno, CA, where the median asking rent for one-bedroom apartments in January skyrocketed by 28% in 12 months, and by 41% in two years, from $1,000 in January 2020 to $1,410 in January 2022, according to data from Zumper’s National Rent Report. Rent increases like this are nuts:
This is a serious freaking problem, Mr. Chair Powell Sir. These renters are not wealthy people who made millions or billions of dollars thanks to your radical monetary policies. These are the working stiffs that now get to pay for your policies that made the already wealthy far wealthier.....
....MUCH MORE
