Housing costs me 30% of my monthly salary.
Back then, I thought it wasn’t a big issue. I was young and single. There were no others to care for. I was able to get out of the situation quickly. According to the Census Bureau, under Biden/Harris’ economic plan, many American renters are paying more than 30% of their monthly income on housing.
According to Census Bureau data released Thursday, nearly half of renters, or more than 21 million households in the U.S. will spend over 30% of their income on housing before 2023.
According to the Bureau, the amount of income that a family renting a house spends on housing costs differs by race.
She said that after adjusting for inflation, the median cost of renters’ housing rose from $1354 to $1406. After adjusting for inflation she said the median renter’s housing cost rose from $1354 up to $1406. “And new data (from the American Community Survey) 1-year estimates of 2023 show the percentage of income that goes towards housing costs varies depending on race. ”
The same laws that govern supply and demand apply to renting properties. When the supply does not meet the demand, prices increase. There are two main reasons for the price increase:
Building affordable multifamily housing costs are increasing because of excessive regulations, zoning laws, and the numerous permits and studies required before construction. The supply is reduced.
Since 2021, there has been an influx of illegal immigration. The government houses many of these illegal immigrants in homes that would have been available to American families.
The two main reasons for this are largely due to Democrat policies in Democratic jurisdictions.
Kamala’s plan to fix this problem is to throw money at it. Each dollar spent on grants and subsidies only increases prices. This leads Democrat politicians, who then call for more grants and subsidies.
We must make affordable housing more available if we are to solve the problem. It is impossible to stop people from spending almost a third of their income on housing.
One candidate for president in 2024 knows this. Voting accordingly is the best thing to do.
