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Reports show rents have increased by 40% in major US cities this year
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Reports show rents have increased by 40% in major US cities this year

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In a number of major US cities over the past year, rents have increased by 40%, forcing millions of people to look for other housing, according to the Washington Post.

It is expected that the increase in utility costs will accelerate inflation this year and will become the most acute domestic political problem for the Joe Biden administration.

According to the real estate agency Redfin, in 2021, the average monthly rent for housing in the United States increased by 14%, to $ 1,877, and in cities such as Austin, New York and Miami - by 40%.

the Federal Reserve Bank of New York published a report this month, saying that Americans expect the rent will jump by about 10% more this year.

Taking into account the current situation, the Biden administration began to redistribute unused funds from its emergency rental assistance program in the amount of $46.5 billion to those in need.

The President also promised to open access to it for another 100 thousand households of the poor within three years.

Author: Usa Really