Rental Housing Is Getting Unaffordable. What’s to Be Done?

rent

Yesterday, Harvard’s Joint Center for Housing Studies released a report on the rise of renting in America—and the parallel rise in the housing-cost burden for renters. The long trend toward homeownership, the study finds, has reversed, with the rental share of households climbing from 31 percent in 2004 to 35 percent in 2012. Meanwhile, the percentage of renters paying more than 30 percent of their income for housing—considered the threshold of affordability—rose from 38 percent to 50 percent between 2000 and 2010, and the share of “severely burdened” renters, paying more than half their income toward rent, increased from 19 percent […]