Median housing prices in the US have almost tripled since the 2000s. It is no longer feasible for the average American to buy a house when they are already paying a lot of rent. Recently, a TikTok video went viral where a girl moves in with her parents along with her kids and husband just because they cannot “afford to live” and buy a home at the same time.
Here is a chart showing how housing prices have skyrocketed in the last two decades.
Then she sarcastically says, “Thank you so much to inflation for sponsoring today’s video,” and complains about how the prices of utilities, bread, groceries and any other thing you can think of have skyrocketed.
Finally, she says that inflation is why this video was made possible. Now, she has to pack to move in with her parents as they cannot save to buy a house and “afford to live” at the same time.
Most of the comments in the Tiktok video were also in line with what she was saying. Shanna Marie, a user, commented, “We just did this. No way to save for a house with a one bedroom that is $2500 a month.”
Another user Ail, wrote, “I’m 30, married, w/ 3 kids & we are doing the exact same thing!! Can’t pay rent and save for a house at the same time. So we are saving while spending.”
And it’s not that things are bad just now because of inflation. A user Natalie Dawn commented that she had to do the same thing 7 years ago with her kid so they could buy a house, and luckily, it worked out.
Let’s take a look at some data to get a grasp on how much the prices of daily necessities have risen in the past few years and decades. The CPI inflation in the US has jumped by almost 10% year on year as of September 2022. And there has been almost a 35% hike in gas prices in 2022.
Can you relate to the girl in the video, or do you already own a house? Let us know in the comments below. Also, if you like our content, do share this blog with your friends and family.