Half of American renters, or 25 million people, now spend more than 30% of their pre-tax income on housing, despite President Joe Biden’s wage-cutting, rent-hiking welcome to mass migration.
“The national average rent-to-income (RTI) reached 30% for the first time in our 20+ years of tracking history, up 1.5% from year-ago,” said a housing report by the Wall Street firm of Moody’s Analytics.
“Rent … rose faster than incomes” in 75 metro areas, according to a report by Breitbart News.
According to the report, rents consumed approximately 22.5 percent of the median income in 1999. The median income is the wage level at which half of all Americans earn more and half earn less.
“These trends on wages not keeping up with rents are exactly what anyone with a morsel of common sense knows will happen if immigration levels are too high,” said Andrew Good, at NumbersUSA.com. He added:
The American Dream for today’s Americans will only be pushed further out of reach unless we get serious about changing course. It is critically important that we reduce immigration unless we want to [change from] a middle class nation to a nation of renters.”
Rents have risen in every state since the 1970s as Congress increased the resident population of immigrants, particularly after Congress doubled legal immigration in 1990.
The immigrant population has increased from approximately 30 million in 1999 to nearly 50 million in early 2023. The inflow increased housing prices, just as inflation raises gasoline prices.
Rents increased by 8.7 percent in 2021 and 9 percent in 2022, as Biden’s massive influx of approximately 3 million southern migrants pooled their low incomes to rent houses and apartments.
Rents, on the other hand, increased by 3.6 percent per year during President Donald Trump’s low-migration term.
According to the Moody’s Analytics report, Coronavirus out-migration from major cities did reduce rent pressure in some major cities. However, “the South Atlantic and Southwest experienced the opposite due to strong in-migration,” according to the report.
To keep up with rising rents, wages in Knoxville, Tennessee, would have to rise by more than 9.3 percent, Chattanooga by 75 percent, Charleston, South Carolina, by 8.9 percent, and Greensboro and Winston-Salem by 6.6 percent, according to the report.
Nonetheless, Democrats continue to advocate for more migration, despite rising rents forcing young Americans to postpone marriage and return to their parents’ homes.
“We have a [U.S.] population that is not reproducing on its own,” Sen. Chuck Schumer (D-NY) ADMITTED in November, before calling for even more migration:
The only way we’re going to have a great future in America is if we welcome and embrace immigrants, the dreamers and all of them — because our ultimate goal is to help the Dreamers [illegals who were brought in by their parents] get a path to citizenship for all 11 million — or however many undocumented there are here [emphasis added].
Rent in New York consumes nearly 70% of the median wage, yet Rep. Alexandria Ocasio-Cortez (D-NY) is advocating for more migration into her high-rent, low-wage district. She and nearly 80 other Democrats signed a letter to President Joe Biden on January 25 asking for more migration.