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Renters rise as housing costs shift prior eras in US
A study by Apartment List traces a trend back toward renting in America driven by stagnant wages and housing shortages. It shows rents outpacing income gains, with 37 percent of households renting today versus 56 percent in the 1940s, and Bay Area families needing high incomes to afford common two bedroom units. Local experts including Jeffrey Buchanan and Rick Smith note dense rental growth, shared housing, and two to three generation households as costs rise and ownership declines.
MENTIONED IN THIS ARTICLE
America
Chris Salviati
Salviati
Apartment List
United States
U.S
Bay Area
Jeffrey Buchanan
Working Partnerships USA
San Jose
Google
North Bayshore
Mountain View
Diridon Station
Santa Cara County
Buchanan
Rick Smith
Santa Clara
Smith