this post was submitted on 21 Oct 2024
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United States | News & Politics

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Rents rose by 8% on average from 2022 to 2023, which was the highest annual average growth seen since 2000. (www.cnn.com)
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[–] mke_geek@lemm.ee 2 points 2 weeks ago

Rents went up for several reasons:

  1. Lack of housing supply.

  2. Increased costs for materials, contractor labor, utilities, increased costs for staffing, etc.

  3. increased demand. People lived together during the pandemic and got sick of each other.