It’s no secret that the cost of living is increasing across the board. This is not just limited to the United States either. Other nations around the world have seen inflation and living expenses rise.
So many different factors continue driving this trend. The ongoing war in Ukraine is playing a role in this, as are the delays that various industries suffered when the world largely shut down because of COVID.
Despite the reasons behind rising costs, people everywhere are having to make adjustments accordingly. Though, renters in major cities across the globe simply cannot keep up.
A tough time for renting accommodations
In major cities like New York, Sydney, London, and more, holding onto a place to live is getting increasingly more difficult for renters.
Between increases in monthly dues, mandatory payments for holding deposits, etc., a lot of people just can’t keep up. Some of these folks are just getting started in their professional lives and haven’t had the chance to reach higher levels of financial security.