Many tenants are keeping up with rising rents. It’s the poor who are hurting.
By Patrick Clark | Bloomberg
A popular narrative of the U.S. housing market has been that big city prices are locking out young buyers, feeding a cycle in which a growing number of people are forced to rent at ever-higher rates as demand overwhelms supply. Throw in the fact that wages haven’t kept pace, and you have a world where a wide swath of Americans can’t save enough to ever buy that first home.