"I owe Gen Z an apology as a millennial. I finally get it. I just learned I can't even qualify to rent literally the same small apartment I had in 2006. You guys are 100% right."
"Adjusted for inflation, $113,000 today is just under $70,000 in 2006 dollars - meaning their salary has barely kept pace with the cost of living over two decades."
"Nationally, apartment rents climbed 29% between 2019 and 2024, while single-family rentals jumped more than 41%. Over the same period, median household income rose just 17%."
"The post-COVID period - marked by a surge in the money supply, institutional buyers snapping up housing, and stubborn inflation - only accelerated what was already a brutal trend."
A millennial user expressed regret for not understanding the housing struggles faced by Gen Z. Despite earning $113,000 annually, they cannot afford a modest apartment that now costs $3,200 monthly. Adjusted for inflation, their salary has not kept pace with living costs, as rents have more than doubled since 2006. Nationally, apartment rents increased by 29% from 2019 to 2024, while median household income rose only 17%. The post-COVID period has worsened the housing crisis, with institutional buyers and inflation driving prices higher.
Read at BuzzFeed
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