Many rentals built in today’s market have luxury amenities, and with these amenities comes a luxury price tag.
Bloomberg reported that rents are rising so rapidly for rental units across the country that it’s an affordability problem that’s not only plaguing lower-income households but also middle-income, two-earner households that can’t keep up with unsustainable rents. High rents are also keeping many from buying a house as they can’t save for a down payment. Low vacancy rates also let landlords to continue to raise rents.
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