Many parents and people have trouble keeping up with rent, especially if it doesn’t align with their checks. To make matters worse, rent is not going anywhere but up lately. Why is this? And why isn’t the government doing anything about it? Some countries, Like Paris and New York, the rent is already high there but that’s just because of their own landmarks and views like the Statue Of Liberty and The Eiffel Tower, but it’s just getting higher by the year.
Why?
It’s not surprising considering COVID-19 and the lock down, “With lock down measures easing, people are flooding back into cities, driving up demand for rentals.” California is ranked as the second highest in rent with over 881,000 houses in shortage, right after Hawaii. The culprit for Hawaii’s high renting is the storage in housing they have. It’s also been a popular vacation spot for years and still is.
Most of the problem is the demand and the shortage, The monthly rent in New York is $2,370, and in Paris in 25.30 euros per square meter. For example, a family of four would probably cost around $4,243 without rent, but New York is more expensive than Paris by around 30%.Rent isn’t the only thing going up nowadays. Clothes, food, and expenses in general are on the rise.
The housing in California is well known to be more higher and expensive than anywhere else. It;s been high and has caused troubles for many people living here, the government isn’t doing anything about it because they’re actually helping in the housing shortage. Another reason is because of the rise in interest rates, inflation, and etc.
What can you do about it?
Your landlord has some restrictions to the increase of your rent, they can only increase it in a 12 month period. But they can increase it 5-10% each year or even several years in a row. California does have rent control, and many of our communities have our own rules about that. But there’s almost nothing we can do about it but hope that your paycheck keeps up with taxes and inflation, which is almost never the case. The government won’t get involved. So hopefully rent won’t keep going on the rise.
The top places for rising and highest in rent are;
1.Hawaii – $2,690
2. California – $2,590
3. Massachusetts – $2,431
4.New York – $2,306
5. Washington – $2,243
