A prominent real estate firm recently publicized a distressing survey, which showcased that both renters and homeowners are drastically compromising their standard of living in order to meet their housing expenses in the current economic regime under President Joe Biden. It alarmingly revealed that approximately 20% of homeowners and renters confessed to forgoing meals to manage housing costs in today's economic setting.

This groundbreaking survey was accomplished by Redfin, which discovered that the mean rental price asked by landlords skyrocketed from a mere $1,700 in January 2021, the month President Biden assumed office, to a staggering almost $2,000 by February.

Besides this sobering alteration in living standards, homeowners and renters across the country have made further sacrifices to keep a roof over their heads. The survey indicated that 20.7% of respondents acknowledged the necessity of increasing their working hours, while 20.6% had resorted to selling personal possessions.

Adding to this daunting list, more than one-sixth of respondents have been tapping into retirement funds, an act commonly seen as a last measure for emergency financial circumstances. Even more alarmingly, 15.6% disclosed deferring necessary medical treatments in order to manage their housing payments.

A prominent real estate firm recently publicized a distressing survey, which showcased that both renters and homeowners are drastically compromising their standard of living in order to meet their housing expenses in the current economic regime under President Joe Biden. It alarmingly revealed that approximately 20% of homeowners and renters confessed to forgoing meals to manage housing costs in today's economic setting.
This groundbreaking survey was accomplished by Redfin, which discovered that the mean rental price asked by landlords skyrocketed from a mere $1,700 in January 2021, the month President Biden assumed office, to a staggering almost $2,000 by February.
Besides this sobering alteration in living standards, homeowners and renters across the country have made further sacrifices to keep a roof over their heads. The survey indicated that 20.7% of respondents acknowledged the necessity of increasing their working hours, while 20.6% had resorted to selling personal possessions.
Adding to this daunting list, more than one-sixth of respondents have been tapping into retirement funds, an act commonly seen as a last measure for emergency financial circumstances. Even more alarmingly, 15.6% disclosed deferring necessary medical treatments in order to manage their housing payments.

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