The story of the housing market over the past few years has been characterized by a growing divide between “haves” and “have-nots” — those who rent and those who own a home. Existing homeowners in America have seen their wealth on paper explode as home prices have surged across the country. At the same time, after a slight dip in rents after the start of the Covid-19 pandemic, rents have also spiked, eating into many people’s savings. A recent report from the Aspen Institute highlights the gaping wealth chasm that has formed between homeowners and renters in America. The median homeowner in America has a net worth of $400,000 as of 2022, the most recent data available, while the median renter’s net worth is just $10,400, according to the report. That means the typical homeowner has almost 40 times as much wealth as the typical renter. https://cnn.it/41MeM4a
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Let’s see what happens when the weather gets worse and houses are destroyed. No one really seems to worry about that. Especially in the US where most houses are built from wood. Then it’s -40 times. I am actually happy I don’t have a mortgage
Everyone wanted $25 an hour but those that were already about the that pay scale received nothing in compensation for it. How that fir fair. It caused everything to go up housing prices have trippeled since 2017
Corporations need to pay a huge cost living hike to workers
Experienced senior marketing leader | Aspiring data wiz | Lover of tech | ENTJ-A
10hThis is such a flawed and skewed analysis. I'd like to know then the real percentages of those same two factors as they compare to age, geography, household headcount, and more. Obviously a bunch of younger people are renting because they are off on their own for the first time, or away at school, or first job, etc when we still have a giant generation of boomers who bought their homes for like $5 and have accumulated retirement wealth. Cant just softball this stat up there and say yep, that's the title.