Tuesday, Aug. 16, 2022 | 2 a.m.
For decades, the American dream has been to work hard, be frugal and one day purchase a home for your family. Today, that dream is unachievable. The American working and middle classes struggle to afford rent, let alone a down payment on a home. The price of down payments and mortgages increases every day, and the cost of rent marches alongside it. The hard work of Americans just isn’t enough to keep pace.
The price of a house has increased by 43% since February 2020. Rent has increased these past few years as well, far outpacing inflation and cost of living. Workers must spend higher and higher percentages of their paychecks on rent every year, leaving our community destabilized.
All the while, median hourly wages have only gone up 5%. A survey from the Culinary Union of its members found that 21% of respondents saw their rent increase by a staggering $500; an increase that is unaffordable for working-class families. The American working class, for all of its hard work, has been forgotten and left to dry.
Unfortunately for workers, the North Las Vegas City Council and clerk are helping to continue these harsh conditions. The Culinary Union obtained enough signatures for the Neighborhood Stability Ordinance, a voter initiative that would decrease workers’ rent, and the city council struck it down. A lawsuit has been launched to overturn this decision, and will hopefully return that decision back to the people.