40 Years of Rent vs Household Income #shorts

📈💸 Did you know in the last 40 years rents have skyrocketed 40% over inflation and 7% beyond income growth? But here’s a reality check – while rents are climbing, our wages, after adjusting for inflation, are creeping up by just 2% a year. It’s a tough pill to swallow, but being informed is half the battle! So, why are rents hitting the roof? 🏠 It’s all about supply and demand. Post-pandemic, everyone’s looking for their slice of space, but the building of new homes is lagging. This mismatch is squeezing our wallets, especially in the city. It’s a challenging market for sure, but understanding these trends is our first step in navigating these financial waters more effectively! 🌊 Stop paying someone else’s mortgage. Buying a home has many benefits on top of having a place to call your own. Your rate is locked in, meaning no more payment increases. You receive thousands in tax breaks each year. AND you’re building equity as home values go up, while you’re paying your loan down. 💡 Ready to get started? Call ☎️ 248-221-2777 today. #rent #rentals #income #money #finance #financetips #knowledge #education #realestate #realtor #realestatetips #inflation #housingmarket #economy #investment #tips #advice #homebuyers #homeownership #homegoals #metrodetroit #annarbor #shorts #tiktok #reels #reelsinstagram