Affordable Rent

[flip_it_fast]

Affordable rent might be a thing of the past as more and more people seem to be spending half or more of their monthly income on rent alone.

This is due in large part to rising housing costs and weak income gains, as well as a flood of new renters who either lost their homes in the foreclosure crisis or can't afford to buy now.

What a shame that is.

It seems to me that you'd be better off to pay a mortgage than to pay high rent. Not everyone can get loans though due to all of the restrictions these days. it's like a no won situation for many.

Making matters worse, the supply of affordable rental housing has been shrinking. Nearly 12% of low-cost market-rate rentals that existed in 1999 were demolished or lost from the housing stock by 2009. And there is little new multi-family buildings being built in the wake of the housing crisis.