Impact of Rising Rental Costs on American Workers: Insights by Grant Cardone

Wednesday, 22 May 2024, 15:30

The widening gap between rising rental costs and wage increases in the U.S. under the Biden administration raises concerns. Real estate mogul Grant Cardone highlights the disparity, attributing it to current federal economic policies. Despite the construction of 1.2 million new apartments since 2020, rents have surged by 30% compared to a 20% growth in wages from 2019 to 2023. This trend suggests a potential shift towards a 'nation of renters,' impacting American households.

https://store.livarava.com/a6a07571-18bf-11ef-a3d6-9d5fa15a64d8.png — Impact of Rising Rental Costs on American Workers: Insights by Grant Cardone

Impact of Rising Rental Costs on American Workers

The U.S. faces a growing disparity between soaring rental costs and stagnant wage increases, leading to financial challenges for many households.

Insights by Grant Cardone

Grant Cardone warns that under the Biden administration, current federal economic policies contribute to the widening gap between wages and rents.

Rental costs have surged by 30% while wages have grown only by around 20% from 2019 to 2023.
Americans are experiencing a scenario where their paychecks are not keeping pace with the rising housing expenses, potentially leading to a 'nation of renters.'

This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.