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Rental markets are softening, but half of U.S. tenants spend more than they can afford, Harvard report finds (www.cnbc.com)

submitted 1 year ago by yogthos@lemmy.ml to c/usa@lemmy.ml

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[–] leanleft@lemmy.ml 5 points 1 year ago* (last edited 1 year ago) (1 children)

this probably leads to landlords demanding 3X rent.

[–] mke_geek@lemm.ee 0 points 1 year ago (1 children)

The reason why this requirement is used is to attempt to avoid eviction down the line. Someone needs to prove they have the means to fulfill the contract they're entering into.

[–] leanleft@lemmy.ml 1 points 1 year ago (1 children)

i understand. so how about 1.5

[–] mke_geek@lemm.ee 0 points 1 year ago (1 children)

That's not enough to have a reasonable assurance of the renter being able to pay rent on time and in full each month.

Remember that things happen like funerals, flat tires, getting sick, utilities, etc that require extra money periodically.

[–] leanleft@lemmy.ml 1 points 1 year ago

thats may be realistic.. ( esp given that americans max out their credit cards to the point of debt).

just so happens to coincide with need for labor and worker empowerment.
"dont start a union! get a promotion and make 3X the rent instead!"

[–] Roopappy@lemmy.ml 2 points 1 year ago

Americans continuing to buy things that they can't afford is why prices keep going up. If people buy it, it tells the seller that the price is correct.