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My rent doubled in less than a decade
(slrpnk.net)
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this post was submitted on 31 Aug 2024
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...in `98 i was paying $500 to rent a 650sf one-bedroom apartment at $30k salary; in 2008 i was paying $750 to rent a 650sf one-bedroom apartment at $45k salary; in 2018 i was paying $1250 mortgage on a 1500sf house at $85k salary: today i pay that same $1250 mortage at $105k salary and thank god i managed to save that down payment within twenty years, before the real estate speculators completely overran my local market...
...not sure what that illustrates other than 2024 is brutally expensive relative to pay: we bought three nectarines last night for six dollars at the local discount grocer, which would have cost less than a dollar thirty years ago...
Where I live I'm looking at a possible $1600 mortgage for a 750sq ft. apartment if I live in a shitty part of town where I may need to replace a window due to stray bullets at some point.