More than half of U.S. renters don’t see themselves ever owning a home, according to a recent survey from Credit Karma — a daunting statistic, considering homeownership remains a key driver of household wealth.
Tenants may also be struggling to save for a down payment on a home, as the national median rent has increased by 21% since March 2020 despite an overall cooling in the rental market in recent months, according to Apartment List. Fifty-six percent of respondents said they spent a majority of their income on rent, Credit Karma said; 37% said they were sacrificing groceries, bills and utilities to cover their housing payments; and 22% said they couldn’t afford their rent at all.
“For renters who are struggling to afford rent, consider modifying your living arrangement or talk to your landlord about your situation, they might be willing to help,” McCreary said. “And for those who are losing hope in one day being a homeowner, focus on what you can control right now. For example, saving a little money at a time toward your goal of one day owning a home.”
The dream is dead.
in 2006 I rented a townhouse in Vancouver for 1200$ a month....It is now 5000$. We are quickly becoming a 3rd world country. A few way at the top, and the rest barely surviving..and that 5000$ a month rent goes straight to China
Live with parents, grand parents, get roommates
We need to get off of this narrative that everyone should and needs to own a home. In a capitalist society, the market rules. That prices some people out at times and prices them in at others. But regardless of that, as a homeowner, there are tremendous negatives to ownership
Biden 'Green' New deal 👌 😎 👍
Rent is an issue
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