Inflation Causes Rentals To Continue On The Rise
(TargetLiberty.org) – Rising gas and food prices are the headline items in our cost of living crisis, but they’re not the only pressures facing ordinary Americans. Rents are also going up at an unbelievable rate. Now, a TikTok creator has just shown the ugly side of out-of-control inflation.
A TikToker in Texas created a video about an email she got that started with 'Congratulations!' — and then hiked her monthly rent by $2,500 https://t.co/sjgxddaij6
— Insider News (@InsiderNews) May 9, 2022
Last week, Katelyn Fletcher, a 25-year-old TikTok user who lives in Austin, TX, shared a video showing a letter she’d just received regarding her rent. It seems Fletcher’s lease is up for renewal and if she signs up for a new term, her rent will be going up. In fact, it’s going to rise from $2,200 a month to an eye-watering $4,678 — a 112.6% increase.
Fletcher says she thought the new figure was a typo at first, and sent an email asking for confirmation. To her dismay, it was no mistake — her landlord really is asking for more than twice as much as she was paying.
Fletcher is unlucky she lives in Austin. The city has become a popular destination for young, wealthy techies escaping the chaos of California, and that has inevitably put pressure on rents and property prices; over the year to January 2022 the average Austin rent went up by 35%, while the average home gained $116,000 in value.
That doesn’t mean things are great everywhere else, though; across the whole US, average rents are up by 15.2% from a year ago. That’s well above inflation, even now. American workers are being hit with inflating prices from every direction — every time they drive, every time they eat and, now, every time they sign a new lease.
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