There's a perception that landlords are taking advantage of what you're describing here. And there's a certain amount of gouging going on, just people opportunistically raising rents because what are people going to do? Is that something that you actually see bearing out in data? Or is that just something people kind of suspect? Oh, yeah, absolutely. These kinds of rent increases are just astronomical. I mean, some of them, they look like mistakes, you know, like 30, 40% increases. And this is like Austin and just these are crazy.
The price of everything is going up, but few things have risen as fast as rent. The rule of thumb used to be that housing shouldn’t eat up more than a third of your paycheck. But these days, a lot of people are handing over half or more of their income to the landlord. Why has rent climbed so high so fast–and is there any end in sight?
Real estate reporter Prashant Gopal joins this episode to explain how we got here–and offers a dose of cautious optimism for renters. And Neil Callanan, who covers corporate finance, gives a broader view of the consequences of turmoil in commercial and housing markets around the world.
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