I'm so tired of hearing "it's because we aren't building enough houses". There are plenty of homes, the problem is huge corporations outbidding real people and leasing the homes out.

When I sold my house, I made sure the buyer was a family not a freaking investor. Be the change!

Isn’t it crazy how mortgage rates continue to rise with higher imports and declining exports? meanwhile the FED is yet to lessen cost. Something will eventually break if they keep raising interest rates and quantitative tightening

To be honest, we're all tired of hearing about the cause of these ridiculous rent/housing price increases. What we want to hear is what is being done to fix it. Otherwise 70% of this country will be homeless, and the other 30% will be corporate landlords with no renters.

20% of the houses sold in 2021 were bought by private equity firms to rent out at ridiculously inflated prices. Corporate greed is the real problem.

28 year old millennial here, college grad, decent job, and I've been on my own for 3+ years renting. I'm getting ready to move back in with my parents because it's either live with them or live with roommates. Rent has gone from ~$1100/mo in my area to over $1600 in that time. My only hope is to live with them until I can save a large lump sum for a down payment on a house. The American dream is quickly eroding and becoming impossible for people without high incomes or assistance.

Working 50+ hrs per week and still not being able to afford things or save a substantial amount of money is getting depressing. I'm in my late 20's and no matter what I do the price of everything keeps going up. I work till I'm exhausted and it's all just to stay afloat. There's no way I can support a family or buy a house

The fact that corporations are buying up houses as investments needs to get a lot more attention (and be stopped). I’m in my late 20’s and would like to buy a house but prices have gone up 50% in my area in 3 years.

The problem is homes are viewed as investments now and not a place to live and raise a family. Everybody wants be a landlord from regular people to corporations.

Corporate ownership of single family homes should be severely restricted or outlawed. Let them own apartment buildings. We are watching the gutting of the American Dream at record speed. RIP middle class!

It feels like the United States citizens are being defeated financially and there should be laws to stop foreign investors and corporate takeovers of marketing

It’s disgusting what Private corporations are doing to everyday Americans like us.

Having a roof over your head is starting to be a luxury in the USA, this is a shame. Housing as a commodity needs to be relooked at.

We tried to buy a house but within two days of it on the market, it had two cash offers from companies way above asking price, taking it away from people who really need homes. Of course the rent that they will be asking will be more than what I would be paying for a mortgage in that same house. They are literally robbing us.

Crazy how the price of rent, mortgage, groceries, and interest rates are claiming fast and wages are still the same.

The homes I was saving for and planning to get a few years down the road was $260,000 in 2021. Today those same homes with the same sq. ft and floor plan is now $345,000. This is just ridiculous. Millennials and the middle class keeps getting 2 steps back

Here I am living in south Florida where I have been priced out of buying a house for three years, meanwhile rent went up 40% and now hearing this is nationwide. Their only solution is to build more houses, so what, the investors can buy them up and raise the rent on them too. When does this Stop?

I work full time and overtime as a Registered Nurse for one of the biggest healthcare systems in the state and I can barely afford my rent let alone “giving back to my community”

The housing market needs to be regulated. There are tons of empty spaces that people can’t afford. There is enough for everyone, but a small percentage of greedy people have been allowed to own as much as they want and charge what ever they want.

I'm going to go with greed. There are hundreds of THOUSANDS of abandoned homes & buildings in the US. IT'S GREED.

I mean, if only we have a law in place to stop institutions from buying entire lots of homes and turning them into rentals until the housing market balances again; that’ll give first-time home buyers a chance. But who am I to speak the rather obvious. 🤷🏻

Stop allowing foreign investors to swoop in on property here. So many are buying 2nd homes here in the US and taking away opportunity for our citizens to purchase

I call BS… plenty of homes available! They are probably just vacant, because they were bought by investors. It’s frustrating to hear all the excuses beside the corporate greed that is actually the cause!

A lot of BS here. A corporation bought our senior mobile home park in Northern California , buying 4 senior parks, and are annually raising our lot rent. We had a huge exit of seniors who hit the road because they could no longer afford the lot rent. They bought camping mobile homes. I was told they plan to raise the rent to $1,200 per month. In the future I won’t be able to live here as this will take all my Social Security.

I was recently visiting Florida and got a reality check when I inquired about renting a one bedroom- $1800 for your average apartment! I was in shock. My first apartment (a box style unit with no washer/dryer) that I was renting for 500 per month many years ago is now 1600-1800. Most jobs in Florida don’t pay well and many have to rely on a co-signer for approval. I feel sorry for the younger generation coming up in this day trying to make it on their own.

I'm sorry but as much as I respect the perspective of economics here, the whole excuse of "we are not building enough houses" is getting tired. That is not the case. At this point, financial struggles of the American home buyers should be taken into account. People work two or three jobs and yet for some reason still unable to buy a house. She is talking from a real state point of view.

I own a home, but rents in Florida are outrageous right now. I feel bad for young people. My sister's one bedroom apartment went from $800/month to $1600!

I am calling BS on this notion that we just aren't building enough homes. I live in Utah and in the last 10 years we have literally added two new cities to our state on top of building a mass of high-density housing across all of our existing areas. We are in a severe Water Crisis and yet our government continues to okay build-outs that will reach upwards of 70,000 new homes in certain areas. To add insult to injury there's almost no new infrastructure that they are planning to add before filling these neighborhoods with families. I live out in an area right now called Daybreak. Nearly every single year the builders revised how many homes they are planning to add. Community started out with a very healthy beautiful mix of condos, single-family homes, duplexes and apartments. That was supposed to be a walkable Community with lots of Green Space a huge man-made lake you can paddle boat and Fish on with local shops and family-owned businesses. I have loved living here. Unfortunately I have chosen to sell and move out of the area because it has become absurd. A lot of the family homes have been scrapped in the still developing areas for high-density housing. Along with building huge man-made canals so you can float around subdivision to subdivision. There are man-made islands for homes are a couple million dollars a piece with almost no yd available. And let me stress one more time we are in a massive drought. A vast majority of my neighbors are not from Utah which is fine but, they are the ones buying three toys four bedroom townhouses from $700,000 to 800,000. Not to mention HOA fees are between $300 and $500 monthly. We have one of the best economies in the country. The NSA has a huge mass of complex here, Facebook, Amazon, IBM, and many others have campuses here in an area called the Silicon slopes. It has priced out those of us who have grown up here. And I will mention one last time the water situation. We have diverted so much water away from the Great Salt Lake that it is now becoming a serious health risk. It's a very dangerous thing when you let a high concentration salt body of water evaporate. You're left with high levels of mercury. Those of us who are lifelong or longtime residents I become completely disgusted with the bloat and greed we see in our local politicians giving the go-ahead hundreds and thousands of new homes, ridiculous man-made bodies of water in a desert all of the end result of pricing out your own constituents.

These rent increases should be illegal. This is called economic eviction.

Everyone is complaining about inflation and gas prices but when it comes to affordable housing all you hear are crickets or "its a free market" excuse. Most people would be able to deal with high inflation and gas prices if they didn't have to pay 50-70 percent of their income on housing.

I bought my house this past year only because the owners wanted a family to get it. They had a million investors interested, and even ghosted a bunch when they met us. Thankfully I pay a mortgage now and no more rent.

I’m a homeowner and I keep hearing all these excuses why sane, hardworking people are homeless…. Yet I keep seeing houses, luxury apt complexes and subdivisions being built all around me. When I lived in NYC and was a renter I couldn’t make ends meet living in a $2000 basement apartment in a not so great neighborhood earning 65k. It’s absolutely crazy how people are expected to survive

There's plenty of homes , they're just vacant from kicking people out of them because they want tenants to pay $6,000 a month.....the answer isn't build more homes it's stop increasing rent!!!! All these rich people they think are gonna come live at these overpriced homes aren't coming so they would rather kick people out hoping to get more and now they get 0 a month instead 😂🤷

My family and I are going to be homeless in six days. We have spent months trying to get into a home. My wife and I work full time and my wife works two jobs. We both have good jobs. We have 5 kids and due to the cost of rentals we are forced to live in our cars. Nobody seems to care nobody wants to help. Our government doesn’t care that hard working people who pay taxes are homeless.

This is something important that the government gives 0 focus to. Crazy how rental properties are just allowed to gouge tenants every time a lease renewal comes up or continuously price the vast majority of people out of the market more and more every year.

34 yr old millennial here. Been working multiple jobs for years to save and pay not only my student loans, but the insane daycare costs for my child. I’ve lived in Florida my entire life and it seems like the entire country is moving here right now. Literally all we see is out of state plates driving around & home/rent prices are going up by the day. It’s insane and unfair.

I live in Phoenix, AZ and the cost of living has gotten out of control over the past 2 years. I moved into a small studio apartment that cost me $440 a month back in 2012. Today, that same unit is $1320 a month and is expected to go up 20% in 2022. So, I recently got my CDL and now will be driving over the road because I can't afford the cost of living anymore.

My viewpoint is that housing cost increasing is not solely due to supply and demand issues. I think you really need to look at greed as a contributing factor. Landlords wanting to charge whatever they can to make more profit for themselves, and put more money in their pockets. And when greed gets involved nothing good comes of it.

Population growth and n the US is severely declining and the US population will soon decrease. To blame rental rates in lack of new buildings is just a corporate line by those who profit most from such ecologically devastating activity. The real cause is increasing corporate ownership of property, pushing out owner occupancy.

Time to expand anti-trust laws! Where I currently live, rents are easily up 50% of monthly net pay. This type of gouging will ultimately affect everyone else's bottom line. They're wiping out the middle class and creating a class of oligarchs who own land.

I get a call at least once a month from people asking me if I want to sell my property. I tell them it's a mobile home on 2 acres of land. That's fine. What do you want for it? I tell them $250,000. ( realistic value is probably $160,000) not a penny less. How do you expect to sell it if you're priced too high? That's the point, lady. I DON'T expect to sell it. It's paid for. I plan on being here until I pass....

Hey 60 min, rising rents could possibly be the result of hedge fund and foreign investment companies buying up all the houses with all cash offers over asking, while simultaneously waiving inspections and not even looking at the houses. Then they just increase the rent 3x… that might have something to do with it

And because investment companies are inflating rent, folks are leaving and going into apartments. As soon as they got a whiff of this information they started raising the apartment rent... Only the corporations win.

Yes, it’s unreasonable that I need a $200k down payment if I want my mortgage payment below 2k in a shack of a home

cut it with the "We're just not building enough houses" bs. There are more vacant homes than the quoted housing shortage four times over. The problem is investors buying up 10, 20, 100, 1000+ homes to rent out leaving those that wish to actually buy paying inflated prices all while rents are driven up right along side skyrocketing housing values.

It's very simple greed. I have lived at my place for 3 years rent went up each year by $30. This time for lease renewal rent is going up by $500. The explanation I got was. The demand is high as their justification to raise rent on everyone.

Most sellers prefer cash offers and the issue is that most of the investors / corporations purchasing these homes are offering cash. Sometimes it helps if you are a family to write a letter to the homeowner explaining "WHY THEY SHOULD PICK YOUR OFFER". This works wonders.

I understand why people are starting to buy tiny houses and even a nice used mobile home. Buy a used mobile home for about $8,000 and fix it up the way you want it. It will be paid for and no rent. Then you can save all of your money and then later on you can eventually buy what you want.

Exactly, we need to build more homes... for cooperations and investors to buy them out and lease at insane prices 95% of people cannot afford even with multiple room mates.

If you rent a house from one of these large conglomerates that's renting out homes. Take really good pictures/ video documenting every single defect that you find. As well as it's condition when you took the keys. Most of these corporations will not give you back your deposit.

Shacking up with roommates?! Living in their parents’ basements?! How about you do a show on 40 years of wage stagnation! This woman’s attitude is horrifying and wrong!

I know I speak for a LOT of people. We need either smaller houses or more condo/apartment style housing for single professionals and retired folks. I know so many people that are single but don't want a huge house in the suburbs but want to own.

I live in "affordable" Knoxville, TN and our rents went up 30% in 2021. A studio now averages $950 while wages have only gone up a little. This affordable little city is getting unaffordable for long time residents.

So we didn’t build houses for millennials but we can sell those houses that become available to these big corporations instead of those millennials that need homes? Makes sense.

"Why rents are dramatically increasing across the US" Because it is being allowed, the US runs on greed

I’ve heard there’s 40 million illegals living in the US. Could this have any effect on the housing situation? Plus joe inviting the entire world to come to the US. Has anyone done a study on this???

Laundered money from overseas should be banned. Many cash offers come from questionable sources.

The USA is devolving into a highly-stratified nation of haves and have nots - and home ownership is the dividing line. Two inarguable facts: 1) an ever-shrinking percentage of the population holds an ever-increasing percentage of the nation's wealth, and 2) as a direct consequence of 1, fewer and fewer Americans can afford to purchase a home - they simply don't earn enough to qualify for mortgages, and are forced into the already out-of-control rental market, where rents are higher than mortgage payments used to be. Even educated young people are left on the dock as the nation's economic ship pulls away - hobbled by crushing debt accumulated in obtaining their education as they begin their working lives. It's no secret a sense of doom and hopelessness is enveloping those who have realized they will live out their lives on the outside looking in; suicides among this demographic are skyrocketing, as is dependence on anti-anxiety and anti-depression medication, not to mention ordinary substance abuse and self-medication. This problem is NOT - repeat NOT - about simply not building enough units - scores of millions couldn't afford them if they all magically appeared overnight. This is about a society coming apart at the seams in literally unsustainable wealth disparity. This has happened over and over in history - the bleached bones of collapsed empires and civilizations lie scattered all over the planet. Ours will join them if we don't course-correct...

Rent increase boils down to one word, GREED. What it comes down to is greedy landlords taking advantage of the housing situation. My granddaughter moved to Boston four or five months ago. The apartment she is renting is around $3,000.00 a month. As far as I am concerned no place is worth that kind of money. I'm not a landlord nor do I want to be one as there are to many headaches in being a landlord.

It is really sickening! Not letting families have homes ! Not enough homes isn’t the issue what a stupid answer. Big investors are just taking them to rent out for a ridiculous price .Inconsiderate All about money!

Interesting that they failed to mention that more and more elderly are staying in their homes versus moving into elderly housing or long-term living and I don't blame them. It cost and arm and a leg to move into a decent elderly housing situation. The housing crisis is the result of a lot of issues and not just Oh well....we got scared in 2008 and people didn't build.

And yet we have open boarders to allow several millions of homeless people in. How are the US supposed to house, feed, clothe and educate them?!?!?!

That’s ok, I’m sure these same corporations buying up all this real estate will be looking for government bail outs if things go south for them financially. They’ll be ok either way.

Jacksonville renter here. The numbers are spot on. I rented a 1 bedroom (APRIL 2020). 12 months later the increase was 7%(APRIL 2021). 12 months after that the increase was 25%(APRIL 2022). That's a 32% jump in 24 months !

How do you justify one person renting 50 properties just for airBNB? This should be regulated. Too much greed!

I live on the outskirts of Atlanta and 2 years ago the rent was 1080 and now they are asking for 1400 and it's only one bedroom.

I have not increased the rent ever. As long as my tenant pays on time and treats my property like it is theirs.

It's called corruption and no effing regulation to protect working people. It's effing simple.

Please note: There are a large number of retired folks who would be willing to vacate our larger homes. We no longer need 3 bedrooms and 2.5 bathrooms, plus living room and seperate family rooms. Our children are grown! However, finding a smaller home for what our larger mortgage free home would sell for, (In an area safe and convenient for us), is nearly impossible. My 2500 sq ft home would bring about 525,000, but there arent any smaller houses to move to that arent crap because of the greedy realtors, banks et al.

When the median price of homes increases, the rental prices also increase, even though that house you live in wasn't on the market, because the owner (landlord) COULD SELL it in the market. Renters need laws passed that prohibit this type of greedy behavior.

This is a damn lie. They are building homes and luxury apartments everywhere where I live in Maryland. The real question is, where is the affordable housing? It takes ATLEAST two peoples incomes to live comfortably these days. Then they want you to make 2 to 3 times the rental price in income. So sick of this.

Hey 60 Minutes, do some real investigation and stop with the talking point of “not enough houses are being built” and look into the real problem of companies backed by retail investors coming in and outbidding at outrageous prices against real home buyers who plan live in these house, and then jacking up the rental properties. I personally know of 3 people who have and are getting into this and we’re approached by these companies. To say there aren’t enough homes IS A TOTAL LIE! Back in 2009 there were too many homes because home building was rampant as well as home buying due to the subprime mortgage scandal. Afterwards there were so many vacancies due to default mortgages so where did they all go. Today for example, San Francisco, a city known for sky high rent, is considering taxing property owners of vacant properties since the latest numbers show that San Francisco sits on 70,000 vacant units! It isn’t about supply and demand anymore. It’s about greed!

Since rent prices are usually higher than mortgage payments, it's become a cycle of keeping poor and working class people from home ownership. In a few years we're going to see homelessness impacting young and old on a societal level that will be astounding and all because of greed.

Ban foreign investors from buying homes in the USA and severely limit how muxg corporations can buy, their subsidiaries. This would solve the problem.

I used to rent what was literally an old, decrepit, one-room shed in NE Georgia for $500/month. The price was raised to $650/mo. Fortunately, I'm now married and live in my husband's nice home, but if I was still single, I would surely be homeless.

“If the American people allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered.” - Thomas Jefferson

The issue isn’t number of homes , there’s more empty homes versus the homeless population. It’s the fact they are being bought as investment and not to be lived int

Around 2010, 2012 there were so many foreclosed, vacant homes and they tore all these houses down. Many were perfectly fine houses. They created this problem intentionally.

I’m 26 and I’ll most likely have to move out of the country to get half the things my godparents have. I have businesses and multiple streams of income, too. I can’t imagine having kids and trying to buy a home with a solid job like our elders did.

So we need to build 4 million homes???🤔 but we have tens of million homes vacant that people can't afford interesting 😏

There needs to be restrictions when it comes to purchasing a home, investors are buying up every home possible and then renting them at impossible prices . America 🇺🇸 land of opportunity

Who ever said you can move where you want and be provided with a place you can afford? If you can’t afford to live in Austin, Miami, Phoenix, Nashville, do not move there. America is huge and work opportunities are everywhere. If you are able to afford to move there and you have left somewhere like California or New York, please dont bring your politics with you, remember why you moved.

Another issue is Air BNB is replacing the rental market. The average owner can make more money off an AIR BNB than renting their house out.

This is an issue happening on a global scale. Same issues happening around Europe, Canada, Australia and New Zealand.

Rents may be going way up, but my property taxes doubled this year, so no matter where you live, you're getting scammed.

Starter homes aren't even being built in my area. Who can afford $400,000 for a first home?

My friend's stepson is a recreational vehicle salesman. He told me business has never been better. They are almost completely sold out of the larger motorhomes and travel trailers that would be more comfortable to live in. They can't replace them fast enough to keep many of them on the lot. Quite a few people believe a huge recession, possibly even a depression is likely right around the corner. At least they'll have a roof over their heads if there is. As Clark W. Griswold would say,a tenement on wheels. 🤣🤣 shitters full.😆

I think the only way to correct it would be a financial event where these large corporations are forced to have a fire sale of housing inventory

They're building homes like crazy in Cali & I'm trying to figure out how many Millennials can afford new homes starting at 500K

What y'all need to understand is while you're focused on black lives matter and LGBT rights .... What's impacting everybody... Rent being. Violation to discrimination. To people who can't afford to pay their rent it is a discrimination

Imagine the boost to the economy if people didn't have to spend half of their income just to have a roof over their heads.

I disagree. Airbnbs are a contributing issue. Owners can make more money putting their space up as airbnbs , this subtracts from the supply available for renters. Owners and investors prefer Airbnb profits which are much more than regular monthly rentals.

Plenty of homes available in the u.s,it's greed that's raising prices

The problem is NOT homes being bought by investors!! Since the 1970s we have built approx the same number of houses each decade despite growing by 120 million. The problem is the most common one in economics - supply and demand. We need at least 7 million more homes today. We are property owners and are raising prices again. Why? Property taxes (they rise as assessments rise), insurance (ditto), HOA fees (from $62 to $150/mth), repairs are more expensive. These are in the $300,000 range so we're not talking slums. I have asked some why they chose to rent and always get the same answer - convenience and cost. No worry about taxes, insurance, repairs, lawn, roofs, etc.

Ughhhh. I'll never get out of my abusive home. Rent prices are ridiculous!

Why are rents increasing? Seriously, you need to ask? The answer is greed, plain and simple.

Rents are rising daily. In Houston, I have watched rents go up 300 plus dollars in 2 weeks. Just because they can.

Google engineers making $240,000 live in the back of a retired UHaul parked on random streets and peeing in a coffee can. The American dream!

The reason that houses aren't available is because of INVESTORS outbidding families and buying homes as assets. Once the interest rates go up then the INVESTORS will want to get rid of its assets. Then there will be too much supply.

People with cash , investors purchase and rent . This is the problem. GREED IS CAUSING THIS PROBLEM.