I don't know exactly how is it on the US (also, AFAIK there's a huge variance of income and housing pricing all around the country), but here on Spain housing is getting worse and worse and worse.
2011 to 2020 ownership rate has fell from 82,6 to 73,9% in the general population, and from 69,3 to 36,1% in under 35yo. Also people is expending more than 40% of their salary to rent [0]
And those are numbers from 2020 (ownership) and 2022 (rental), but I guess that today, specially on big cities, that's way, way worse. I just checked my neighborhood prices (in Madrid) and, since late 2021 when I rented my current apartment, prices have raised +30%, and lots of posting are now for "temporary rentals" of less than one year. That's a model thought for touristic apartments that offer way less protection to the tenant (they can raise prices at will), less stability (they can kick you out no notice) and allows landlords to avoid housing rental laws (for repair, maintenance, etc.).
So it used to be "AirBnBs around me raise housing prices", and now it's "You can only rent AirBnBs".
2011 to 2020 ownership rate has fell from 82,6 to 73,9% in the general population, and from 69,3 to 36,1% in under 35yo. Also people is expending more than 40% of their salary to rent [0]
And those are numbers from 2020 (ownership) and 2022 (rental), but I guess that today, specially on big cities, that's way, way worse. I just checked my neighborhood prices (in Madrid) and, since late 2021 when I rented my current apartment, prices have raised +30%, and lots of posting are now for "temporary rentals" of less than one year. That's a model thought for touristic apartments that offer way less protection to the tenant (they can raise prices at will), less stability (they can kick you out no notice) and allows landlords to avoid housing rental laws (for repair, maintenance, etc.).
So it used to be "AirBnBs around me raise housing prices", and now it's "You can only rent AirBnBs".