[voisin]

Another part of the problem is that those who down own but rent have seen rents increase (in many but perhaps not all of the major cities) to the highest proportion of income in history and often are as high as a mortgage payment. So now there’s no real savings to be had by renting, and no ability to save to get into the housing market later (prices in some markets were increasing on average by tens of thousands of dollars per month through COVID - galloping away from even the most diligently saving renter trying to get to a down payment. So it seems there’s an owner class and a renter class, and both are financially strapped, and it is near impossible to move from renter to owner.

This is a direct result of insufficient supply and skyrocketing values (thanks to interest rates being too low for too long).