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High Prices Causing Hardships For Many Californians

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"The cost of monthly rent reached a new high in February, with the typical apartment now $283 more expensive each month than it was two years ago, before the onset of the pandemic.
The national median rent was $1,792 last month, up 17% from a year ago, according to a report from Realtor.com. Rent for studio apartments, one bedrooms and two bedrooms all saw double-digit increases over the past year.
February marked the seventh-straight month of rents soaring by double-digit percentages, after rents cratered in some of the biggest cities during the pandemic.
"With rents up by nearly 20% over the past two years, rental prices are likely to remain high, but we do expect some cooling from the recent accelerated pace," said Danielle Hale, chief economist at Realtor.com."

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