One-time New York gubernatorial candidate Jimmy McMillan publicly commented on the state of the economy in the state, saying the rent is still “too damn high.”
We agree.
After seeing falling costs by as much as 20% in urban areas like Chicago in 2020, rent prices have come back with a vengeance.
For some, it’s challenging to get their rent paid in full every month, and still take care of the rest of their living costs. Over the last 30 years, rent prices have grown by 149%, while income grew only 35%.
“We call that combination stagflation, when there stagnant wages and salaries combined with high inflation,” analyst Donetha Doe said in an interview.
Rent prices have doubled in at least 25 of 50 of the most populous U.S. cities, with costs tripling in Nashville and San Antonio.
That double-digit hike is even more painful since inflation hit a 40-year high because of higher gas prices.
With everything being so expensive, it’s easy to suggest making more money. But rising work burnout rates, we’re posing an alternative: assess the money you already have and spend it more wisely.
Here are a few apps that can help you do just that.
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