Unpacking the Rent Crisis: It's Not Just Greedy Landlords..

[Michael Calvey]

TL;DR: Recent article suggests rent hikes aren't just about landlord greed - rising costs across the board are a major factor.

Just read an eye-opening article about the recent rent crisis.

It challenged my assumptions, so I thought I'd share the key points:

- Rents up 25% since 2020, but wages only 22% - ouch.
- 50% of renters now "rent-burdened" (>30% income on rent).
- Landlord costs skyrocketing: 
     - Insurance: +30% (thanks, climate change)
     - Utilities: +30%
     - Property taxes, materials, maintenance all up
     - Even lawn care and cleaning services cost more

The article argues these costs are being passed to tenants, not just padding profits. Interestingly, it cites data from Baselane, banking built for Landlords, showing a 30% increase in landlords' monthly expenses from 2022 to 2024. This kind of data gives us a more concrete picture of the situation.

Questions for discussion:
- Renters: Has your landlord mentioned any of these factors when raising rent?
- Landlords: Are these costs hitting you as hard as the article suggests?
- Everyone: What solutions do you see to make housing more affordable?