This is not good news.
It doesn’t matter whether you are a homeowner or a renter, Americans across the board are feeling the pains of the rising cost of housing.
According to Fox, along with the current new surge in mortgage rates, Americans now have to deal with a rise in the Consumer Price Index (CPI) of 0.4% making it a total of a rise 3.3% compared to the previous year.
This means people who own homes or rent are noticing that they have to pay more than ever before just to keep a roof over their heads.
What’s even worse is that with inflation soaring, those who want to renovate their homes or buy new furniture are expected to pay higher than usual prices just to do so.
Realtor Pamela Feixas even admitted to Fox that homeowners are having to wait insanely long periods of time just so they can fix up their houses and sell them. “The owner had planned to list this house in August of last year, but it was actually listed last week because of the lack of inventory.”