A study by Harvard University’s Joint Center for Housing Studies found a record number of renters spending more than 30 percent of their incomes on rent, the Wall Street Journal reports.
Nearly half of all renters are paying more than the 30 percent threshold that economists consider financially burdensome. Though there was a slight improvement in 2011, the number remains above where it has been for most of the last 13 years.
One reason of this trend, according to the reports, is that new supply hasn’t kept up with the swell in demand.
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