I live near Austin, and home prices have tripled since 2019, driving more people to apartments while cities ban new apartment complexes.
I’ve been fortunate enough to get a few promotions and double my pay in the last 18 months, but with the increases in rent and other expenses I actually end up having about the same amount of disposable income as when I made half as much money, and rent is a higher percentage of my expenses than it was before my raises.
And I haven’t moved into a more expensive place. I’ve lived in the same place for a decade now.