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This article states that renters are falling farther behind due to rising rental costs.
This is just one more indicator that the US is now becoming a two tiered society.
This article states that renters are falling farther behind due to rising rental costs.
This is just one more indicator that the US is now becoming a two tiered society.
I'm not sure that there's an automatic cause and effect relationship here. The type of person who qualifies to be a homeowner is often different from the type of person who is a renter (age, income, credit score, etc.).
When i was in school in the 1970's i remember the teacher showing us a graph of inflation trends and then we saw another graph of different activities and what people tend to do for entertainment when inflation picks up.
Well as inflation rose going to the movies mirrored it.
I said ,well there is the proof : Going to the movies causes inflation.
Everyone laughed at my joke but the fact is you have to always look to see it it is a case of the tail waging the dog.
Homeowners tend to have more , tend to earn more and tend to grow incomes at faster rates because they tend to be the more successful group and that is why they can own a home.
I think the point the article is making is that there is a growing portion of the population who is being trapped in a cycle of higher living costs and lower wages and that their situation is being made worse by the fact that they can no longer fix their housing costs by purchasing a home vs. renting.
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