It’s no secret that many millennials and younger generations have bid their farewell to the prospect of ever affording their own home. Not because they don’t want or need one, as some so-called real estate experts have tried to suggest, but because they simply can’t afford one.
As if that wasn’t hard enough already, renting a home is becoming just impossible. Rental prices for single-family homes grew an average of 7.8% in 2021, an all-time high, according to the most recent data available from CoreLogic Inc. In December, U.S. home rents jumped 12% year over year for the month, with Miami leading the way with a 35.7% increase.
Worse, there seems to be no end in sight. And while real estate tycoons don’t miss the opportunity to milk the cash cow, many people fall behind on payments and dig deep into their savings.
In this chaotic climate, the Instagram page titled Homeowner Memes pokes fun at the complex reality related to having a place to live, which doesn’t come as a given. By providing light-hearted entertainment, it reminds us that we can always laugh, cry, and then laugh again.
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