Millennials Voice Hardships Affording Housing as Rents and Home Prices Surge
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Millennials are increasingly complaining on social media about being unable to afford rising rents and home prices in big cities. Many have called recent price hikes "insane".
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On TikTok, creator Kaitlin Murray showed her Boston rent going from $2,600 to $3,444 for a 450 sq ft apartment. She called it "asinine" and said "this is insane."
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TikTok creator Ora Hardesty tearfully shared she can no longer afford her rent in Savannah, which went from $1,300 to $1,800. Despite having few luxuries, she's struggling.
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Real estate experts say millennials face more financial challenges than previous generations - from student loans to medical bills to overall economic downturn.
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Young people often lack the ability to handle price hikes for rent or homes. "They have no cushion," said agent Omer Reiner.