Cardi B is the latest to voice out over the decades- high inflation and housing costs hammering American households. The Grammy Award-winning artist has shared she was shocked at how much rents have surged while helping a cousin find an apartment.
The WAP rapper stressed that surging mortgage rates have made it difficult for homebuyers to afford properties.
“There’s no motherf**king inventory when it comes to home. Nobody’s gonna try to sell their f**king homes,” Cardi B said in her Instagram Live video, which has since been re-shared on Twitter. She went on with her views on the state of the US economy, gripping that a lack of available inventory has also made it challenging to afford properties.
This isn’t the first time Cardi B has been outspoken about the economy. In June, she had asked when the Biden administration would announce a recession.
The rapper added about the inflation and high-interest rates: “I was looking at some areas. The way that the prices soar up…like how are people surviving? I want to know. My family and my friends, they’re so grateful to have me, but it’s just like, what happens to people who don’t have a me?” Daily necessities such as food have so far remained expensive even as gas prices fell from June highs.
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“All these promises are being made, but living is unbearable,” Cardi B said in a later video.
The latest inflation data released Tuesday showed prices rose at a hotter than expected 8.3% in August. The Consumer Price Index’s shelter index, which tracks the cost of rent and is a key input for the monthly federal report, increased 6.2% in August compared to the same month one year earlier. Shelter costs were also up 0.7% compared to July.