Ever since Biden sets in office, our country faced more record-breaking problems than any of the past presidents combined.
It’s all over the news, leftists just can’t see it because they were blinded by the liberal ideas.
We first suffered from high gas prices, then the heating, and now the rents… Biden’s regime is the worst.
The runaway inflation is now causing Rental rates to explode across the country, delivering an average of a 20 percent increase in the U.S.’s biggest 50 cities over the past 12 months, study details.
Yes, Biden is a record-breaker, in fact, rental vacancy rates during the fourth quarter of 2021 fell to 5.6 percent, the lowest since 1984 in the world’s largest economy, the U.S. Census Bureau statistics revealed.
Breitbart reported:
The rent spike has stung wallets nowhere more than in the Miami metro area, where the median rent surged to an eyewatering $2,850, 49.8 percent higher than the previous year.
Other cities across Florida — Tampa, Orlando, and Jacksonville — and the Sun Belt destinations of San Diego, Las Vegas, Austin, Texas, and Memphis, Tennessee, all saw spikes of more than 25 percent during that time period, AP reports.
Meanwhile, Boston has nearly overtaken San Francisco as the nation’s most expensive rental market with a nearly 27 percent increase in properties with two bedrooms, according to the Zumper study released at the end of last month.
The Biden administration’s failure to tackle high and rising inflation pushed consumer sentiment this month to its lowest level in a decade. https://t.co/KfCWTeFptq
— Breitbart News (@BreitbartNews) November 26, 2021
DailyMail also reported:
In New York City, rent prices increased 22.8 percent year-over-year, while Los Angeles saw a bit more subtle 14 percent increase.
Across the 50 largest US metro areas, median rent rose an astounding 19.3 percent from December 2020 to December 2021, according to a Realtor.com analysis of properties with two or fewer bedrooms.
Rising rents and high inflation are moving hand-in-hand to become one of the nation’s top economic problems.
Labor Department data, which covers existing rents as well as new listings, shows much smaller increases, but these are also picking up.
The Associated Press noted:
Rental costs rose 0.5 percent in January from December, the department said last week. That was the single biggest increase in 20 years and will likely accelerate.
“Without a lot of rental vacancies that landlords are accustomed to having, that gives them some pricing power because they’re not sitting on empty units that they need to fill,” Danielle Hale, Realtor.com’s chief economist.
Economists worry about the impact of rent increases on inflation because the big jumps in new leases feed into the U.S. consumer price index, which is used to measure inflation.
U.S. inflation rose to the highest level in nearly forty years in December, underscoring the high and rising inflation that has been the hallmark of the first year of Joe Biden’s presidency. https://t.co/GmZyC6he5D
— Breitbart News (@BreitbartNews) January 12, 2022
I ABSOLUTELY CANNOT BELIEVE how much damage FJB has done to America, all in one f’ing year…I CANNOT take it, we have 3 more years with this blowhard, mentally impaired, dementia ridden old crow..THERE WILL BE NO AMERICA LEFT BY THEN….IMPEACH THE F
What’s happening to rent? The same thing that’s happening to the rest of the country.
Massive inflation, though I think there is more to price gouging than meets the eye. inflation is the excuse, all caused intentionally by Lying Corrupt Quid Pro KING Joe. Remember, Corrupt Quid pro feels your pain. Corrupt Quid pro is too ignorant to feel anyone’s pain. corrupt Quid Pro will never ever have to worry about price gouging or massive inflation, considering this corrupt compromised president made 31 million dollars under the table from Communist China and when Xi says jump, corrupt Quid pro says, How high.