America's Rental Crisis

Business owners have a right to set their prices, right? And technically, landlords are business owners, correct? Ok, well it becomes a major problem when these “business” owners are allowed to gouge and pillage renters.

A slight raise each year is expected. Last year, my rent went up about 60 bucks. I expected some increase, and that was feasible. This year, even though we are actually yet in a pandemic, landlords and property owners have raised rents by astronomical prices. Many renters have seen their rents rise at least 40 %. In my own case, my rent went up by more than $730 per month. No, that was not a typo. $730 PER MONTH!

How in the world is this even legal?!?

Answer: Politics and greed.

There are 25 states in America that not only don’t limit rent increase, they actually prevent rent control. Like literally, why other than untethered greed, would state governments actually prevent this type of financial abuse of renters? Unfortunately, I currently live in one. (More on these 25 states here). Even with a nationwide rent moratorium during the pandemic, if your lease expired during the moratorium, landlords could still legally raise your rent. Now that the eviction moratorium has passed, renters are being gutted and pushed even faster to the brink of homelessness; being forced to make unhealthy choices between food, medicine, and having a roof over their heads.

The current affordable housing crisis has exponentially expanded the growing divide between rent prices and income. Between 1985 to 2020, the national median rent price rose 149%, while overall incomes have only increased by 35%. With rents rising at least 4 times faster than income since 1985, many Americans are being forced into cheaper, subpar rentals in crime-ridden areas. They are also being forced to spend unsustainable percentages of their income and earnings on rent.*

As a former homeowner and now a single mom, I am outraged. Neither our community, nor my unit got any upgrades. The excuse given was that all renters prices went up to be in line with current rental prices. NOBODY believes this. What’s even more egregious is the fact that many of these apartment barons got plenty of Covid relief money from the government to cover renters who fell behind because of sickness and pandemic shutdowns. I, for one, have never missed a payment, so it makes no sense for me or to me.

So, I have taken this action as a sign from heaven that it’s time for me to become a homeowner again. I have one college graduate (last spring), another current college student, eligible for graduation in December, and a 13 year old. Suffice to say, giving this property owner an extra $730 per month for no extra square footage, no additional or upgraded amenities, and certainly no credit for never missing or even being late on a payment is not ok. Feeling like the ground is unstable underneath you is happening to too many hardworking Americans.

The expectation is for the masses to just take this unfair treatment, complain to no avail, and deal with these untenable conditions while the uber wealthy and corporate housing barons continue to widen the gaps. We don’t have to just take it, and though it will take hard work and consistent effort, we have to fight back. And yes, we should contact our local representatives and legislators; but honestly, if they were intent on helping the people who elected them, there would be no housing crisis, in my opinion. That said, there are some ways to take action and some resources worth checking into for assistance and strategic planning to traverse this crazy housing landscape. Here are just a few:

Consumer Finance Mortgage and Housing Assistance

Rental Assistance in Your Area

HUD Rental Assistance

National Low Income Housing Coalition

NACA Rental Assistance

If you want to follow the route I’m pursuing and look into homeownership, these resources might be helpful:

NACA Home Buyers Program

National Home Buyers Fund

National Home Buyers Alliance

Teacher Next Door/Next Door Programs

My hope is that this article offers some hope, encouragement, and tangible help. Take a deep breath and reach out for the particular help you need to get out from under the crushing weight of these rental increases. While home ownership is one option, co-renting is another possibility. Sharing or splitting rental costs for a larger home or apartment unit with other viable and vetted renters(read: background checks) could also give you some breathing room. Then, there’s always the option of becoming an ex-pat. The cost of living in some beautiful areas of the world might be worth considering. Panama, I’m looking at you.

Whatever you decide to do, take heart and don’t give up! We all deserve to live in clean and stable housing we can afford.

Copyright 2022 ~Joy Yvette~ All Rights Reserved

*Source: U.S. Department of Housing and Urban Development