Over the last ten years, a record number of Americans have entered into the rental market. But even as demand for affordable - which is defined as when cost doesn't exceed 30 percent of the median family income in a given area - rental units are skyrocketing, the supply is either stagnant or plummeting.
It's a crisis that's not restricted to expensive coastal cities - it's happening everywhere.
"[T]he last decade has seen nine million Americans become new renters, the largest 10-year gain in history," according to real estate website Curbed. This increase has "[pushed] the percentage of households that rent from 31 to 37 percent, the highest level since the Johnson administration......Read More
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