The Crazy Housing Market of 2021- Rent Increases, and Life-Here’s What You Need to Know to Survive!

Send us a textThe cost of living has been steadily increasing for years, and it’s not getting any better. In this TruPodcast, I’m going to explain the housing market in eight minutes with my own twist on how it all works.So you think the housing market is soaring? Maybe you should take a closer look. In this podcast, I break down how rents are increasing and what it means for your wallet and the broader economy.You’re spending more and more of your paycheck on rent. But the crazy housing market is making it impossible to find a place that fits into your budget? We get it, we’ve been there too!The median U.S. home price has risen to a new high of $363,300 as strong demand pushes the number of homes sold higher than ever before! The National Association for Realtors (NAR) said that existing-home sales rose 1.4% in June from the prior month and have increased by 22%. What does this mean? We will share some of our thoughts on all of this!Housing Market Explained:Here’s why:1) People are making more money but not enough to cover rent increases with their income alone; 2) Baby Boomers need to sell homes before they retire or face losing equity; 3) New home construction isn’t keeping up with demand so prices keep going up. I’m going to tell you all about the cost of living and why it’s so expensive nowadays. It’s not just rent that has increased but also housing prices which are a big reason for people being unable to afford a house these days. So sit back with your coffee or tea and let me explain everything in detail.Links to Articles from the Podcast:https://www.businessinsider.com/single-family-house-rent-skyrocketing-especially-in-the-south-corelogic-2021-7https://www.cnbc.com/2021/07/20/builders-pull-back-as-more-homebuyers-are-priced-out-of-the-market.htmlhttps://www.wsj.com/articles/big-landlord-launches-5-billion-house-hunt-11626781403?mod=flipboardSupport the showThanks for Listening! Follow us on Tik Tok Facebook and Instagram