October 20, 2022
by Michael
Rent prices for single family homes swelled during the first half of 2022, hitting a national average of $2,495 a month — a 13.4% increase compared to the same period in 2021, according to a new report from national real estate brokerage HouseCanary.
If you are only earning $3,133 a month and you have to spend $2,495 a month for rent, that leaves you next to nothing for everything else.
For example, all of us have to eat.
But these days a single shopping cart full of food will easily run you more than 300 dollars.
And that is if you are trying to be really frugal.
Gasoline has also become extremely expensive.
All the way back in 1960, a gallon of gas cost just 31 cents.
Today, gas is approaching 7 dollars a gallon in some parts of California.
I could go on and on with more examples of the rapidly rising cost of living. Heating bills are expected to soar this winter, health insurance has gotten absurdly expensive, and new vehicles cost so much that most Americans can no longer afford them.
If things are this bad already, what will conditions be like for the middle class as the economy deteriorates in 2023 and beyond?
The worst housing crash since 2008 has now started, the financial markets are on pace for their worst year since 1969, and big companies all over America are starting to lay off people in large numbers.
Alarmingly, some of the biggest layoffs are actually being conducted by the big tech companies.
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