Americans are finding it increasingly difficult to afford rent or mortgage payments as housing costs continue to soar, spotlighting a broader trend of inflation making the most basic and fundamental costs of living exceedingly high for working people.
Shelter costs, which include rents and various other housing-related expenses, rose 0.7% in August from the prior month — the biggest monthly increase since 1991 — and skyrocketed by 6.2% compared to this time last year, according to data released this week by the Bureau of Labor Statistics.
Meanwhile, mortgage rates on Thursday surged above 6% for the first time since the housing […]
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