Around here, rents grew far more far faster, without a change in wage. My wage has been more or less stuck at $15/hr for an entire decade, while rent increased from around $700 to $1000, on average.
The sad thing is, you can still buy homes equivalent in quality to a rental for between 60,000 and 130,000 around here and very excellent homes for between 190,000 and 270,000. And it’s still cheaper than renting!
The downside is that the banks generally don’t approve people for loans around here…
