Finance

Rising Rents Make Housing Unstable For Many

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The cost of living has definitely gone up, and this includes rent. All across America, people are grappling with skyrocketing rent prices that are forcing many to really reconsider the cost of housing. As leases are up for renewal and the demand for rentals increases, landlords and property owners are raising rental prices at astounding rates. In cities such as New York and Los Angeles, people are seeing rent increases as high as 50%. These rent price hikes are pushing many people out of the rental market raising cause for concern. So, what exactly is behind the rising rents in America? Is it a sign of housing demand or is it simply greed?

The Effect of Inflation on Rent
Inflation is definitely here causing the cost of products and services to rise. For those who are seeking housing, inflation can make obtaining affordable housing difficult. However, for property owners, inflation means more income through raising rental costs.

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