U.S. landlords are getting a bigger share of the economic pie than they ever have before, according to new government data.
Since the Great Recession in 2008, a disproportionate share of the benefits of the recovery have gone to the most wealthy. And, as would-be home owners are pushed out of the housing market, there are more people competing for rental housing, pushing rental income up in gross terms, but also as a percentage of the gross domestic product. "Rental income as a share of gross domestic product hit an all-time high of 3.86% in the first quarter, according to government data out Friday," reports Andrea Riquier in Market Watch.
"During the downturn, Americans cohabited by necessity, and as baby boomers retire, many are opting to form multi-generational households with their children," Riquier writes. As these people look for homes of their own, they're more likely to rent and see high rents when they're in the market.
FULL STORY: Rental income just hit an all-time high. Here’s how that drives a wedge between ‘haves’ and ‘have-nots’
Pennsylvania Mall Conversion Bill Passes House
If passed, the bill would promote the adaptive reuse of defunct commercial buildings.
Coming Soon to Ohio: The Largest Agrivoltaic Farm in the US
The ambitious 6,000-acre project will combine an 800-watt solar farm with crop and livestock production.
World's Largest Wildlife Overpass In the Works in Los Angeles County
Caltrans will soon close half of the 101 Freeway in order to continue construction of the Wallis Annenberg Wildlife Crossing near Agoura Hills in Los Angeles County.
California Grid Runs on 100% Renewable Energy for Over 9 Hours
The state’s energy grid was entirely powered by clean energy for some portion of the day on 37 out of the last 45 days.
New Forecasting Tool Aims to Reduce Heat-Related Deaths
Two federal agencies launched a new, easy-to-use, color-coded heat warning system that combines meteorological and medical risk factors.
AI Traffic Management Comes to Dallas-Fort Worth
Several Texas cities are using an AI-powered platform called NoTraffic to help manage traffic signals to increase safety and improve traffic flow.
City of Costa Mesa
Licking County
Barrett Planning Group LLC
HUD's Office of Policy Development and Research
Mpact Transit + Community
HUD's Office of Policy Development and Research
Tufts University, Department of Urban and Environmental Policy & Planning
City of Universal City TX
ULI Northwest Arkansas
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.