Welcome to the ViewAndSearch.com Blog

2011-04-26 15:04:52
Rentals Get Pricey and Scarce, Study Finds

The number of renters who spend more than half their income on housing is at its highest level in half a century, according to a Harvard University study released Tuesday.

About 26 percent of renters — or 10.1 million people — spent more than half their pre-tax household income on rent and utilities in 2009, according to the study. Most experts recommend renters spend no more than 30 percent of their income on housing.

Additionally, the cost of renting continues to rise as vacancies remain low. The number of renters increased 8 percent nationally between 2007 and 2009, according to Census Bureau figures, and rents climbed 3 percent nationwide.

Many experts blame the shortage of affordable rental housing on rentals failing to keep up with demand. Building mostly came to a standstill in 2009, particularly with a shortage of apartments.

'It's a real squeeze for the lower-income and moderate-income families, and we're even starting to see it affecting middle-income families too,' says Erick Belsky, managing director of Harvard's Joint Center for Housing Studies. 'The prospects for improvement anytime soon are dim.'

Rents are expected to continue to climb as developers try to play catch up to meet the demand, analysts say.

Affordable rental housing is most scarce in the western United States. In the West, only 53 units were available for every 100 very-low-income households that are looking to rent, according to a separate study by the Department of Housing and Urban Development. That compared with 65 in the South, 66 in the Northeast, and 87 in the Midwest.

Source: “Study: Affordable Rental Housing Scarce,” The Washington Post (April 26, 2011)

Provided by,

Doug Spiers / Associate Broker / Global Choice Real Estate / 801-7267173

 
Blog Archive
2018-12-17 10:45:22
Reasons to sell this winter!

2018-12-06 14:48:25
Sunset City December 2018 Real Real Estate Report

2018-11-16 17:36:38
3 - Things homeowners are thankful for watch this;

2018-11-15 10:34:56
Real Estate News Update November 15, 2018

2018-11-11 20:08:43
Sunset November 2018 Market Report

2018-09-15 22:16:02
September 2018 Average Days on the Market

2018-08-30 13:20:54
How Supply & Demand Impacts Real Estate Values

2018-08-29 08:02:26
4 Things Proactive Homeowners Do in September

2018-08-28 08:09:12
House-Hunting Tips to Avoid #Facepalm Moments

2018-08-23 15:11:43
Will the next economic slow down impact the value of your home?

2017-12-04 18:53:21
October Weber County Market Statistics As Of 12/1/17

2017-12-04 18:52:40
October Davis County Market Statistics As Of 12/1/17

2017-12-02 08:39:50
Median Days on the Market s to 34

2017-12-01 21:53:08
Your Moving Checklist

2017-10-13 11:57:01
4 Reasons to Sell This Fall

2016-05-06 07:23:41
Best Long-Term Investment

2016-02-02 16:49:28
No Matter Which Groundhog You Listen To...

2016-01-29 14:35:49
Existing Home Sales Bounce Back

2015-12-09 08:46:15
Real Estate News You Need to Know Wed. 12/9/15

2015-12-03 08:11:23
2016 Home Prices and Rates?

2015-10-16 10:43:16
2016 Home Prices?

2015-10-15 12:27:38
Rental Repairs?

2015-10-15 12:24:39
Millennials?

2015-10-13 07:15:49
New Home Sales Surge

2015-10-07 10:35:23
30-Year Fixed Mortgage Rates Fall to 5-Month Low;

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.