Rent prices are rising the fastest in decades.
According to Redfin Data, nationwide rents in December 2021 shot up 14% compared to December 2020.
It doesn’t look like it will slow down any time soon.
On the flip side, home prices also continue to go up and look like they will rise this year.
While that may make it a little more expensive to get into a home, as your home’s price continues to go up, that’s equity you own. Unlike rising rents, you’re paying for someone else’s equity.