Reported 5 months ago
Real estate mogul Grant Cardone has pointed out the widening gap between U.S. wage increases and rising rental costs under the Biden administration, attributing it to current federal economic policies. Despite the construction of 1.2 million new apartments since 2020, rental prices have surged by 30% between 2019 and 2023, outpacing the 20% growth in wages during the same period. This disparity, coupled with high interest rates, is making homeownership increasingly unattainable for many Americans, pushing the country towards becoming a 'nation of renters' rather than homeowners.
Source: YAHOO