People have been warning about it for decades now but we're finally there.
I was looking up places to rent in California today. I looked at dozens of these listings for 1 bed 1 bath and 2 bed 1 bath apartments (and houses) well north of $1000. I was thinking, hey this could be manageable on a California salary. But wait. When I read the fine print, they are all just looking for roommates. All of them.
Anyone else remember when you were getting a huge discount if you were willing to live with roommates? Not $1200, $1500 or $1600 a month. It was more like $400. This is just nuts.
It's all due to asset inflation. We should hope that Trump does crash the economy to get these prices back to something sane.
I'm in Ontario and 2-beds are over $2000 in my building. For reference, when I started renting in the same building 15 years ago, I paid less than $900.
It's insane, and ensures that most people cannot start any kind of businesses beyond doing surveys online.