Steady, extreme inflation, created in part by the ongoing man-made recession, is hitting all consumers, whether they are homeowners or renters.
A report from Redfin this week suggested that Gen Z and Millennial renters who took on a new rental lease in July saw their overall cost of goods and services increase 11.6% year over year, substantially higher than 8.5% for the U.S. population as a whole.
Redfin Senior Economist Sheharyar Bokhari said in prepared remarks, "Inflation is hitting young renters hard because not only have prices of everything from food to fuel soared but so have rental prices.
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