Rent Trap Myths
Myth 1	Escaping the trap will get easier later.
Myth 2	Escaping the trap requires excellent credit.
Myth 3	Only the rich can afford to escape the rent trap.
Myth 4	Escaping the rent trap is easy.

Escaping the rent trap becomes harder over time because the price of real estate goes up while income stays the same.

The price of real estate always increases over income. The fundamental reason why real estate always goes up is because our population is always increasing. More and more people compete for a limited resource. As long as popuation increases, real estate will increase in value. Unless the world comes to an end or something catastrophic happens to this city, the price of real estate will continue to increase.

Another problem is that most renters develop bad spending habits that are nearly impossible to overcome as years go by. The longer someone rents, the harder it is for them to sacrifice. I have discovered that people who have rented for less than 2 years are ten times more likely to escape the rent trap than someone who has rented for 10 years.

People also believe that if they make more money next year, it will be easier to buy. Wrong. They just buy more crap.