More Renters Means Fewer Affordable Options

A new report from the National Low Income Housing Coalition (NLIHC) says that the number of Americans spending more than 50% of their income on housing is at an all-time high.

The study says that the troubled housing market, combined with demographic shifts, is increasing the market for rental housing and limiting availability:

"With little new supply of multifamily units in the pipeline, rents could rise sharply as demand increases. Regardless, affordability is likely to deteriorate further over the next few years as persistently high unemployment limits renter income gains."

Builder Magazine gives a breakdown of how some states are faring in this climate.

Full Story: As Renters Grow in Ranks, Options and Affordability Shrink

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