This week Harvard University’s Joint Center for Housing Studies released its 2015 report on Rental Housing that claims a record number of renter households face severe affordability problems, as rents grow faster than incomes and increased supply fails to meet demand. The report also calls for more efforts from the public sector (surprise) as well as the private sector to expand the range of rental housing options. Editorial note; That certainly sounds like opportunity!
“Rental housing is home to a growing share of the nation’s increasingly diverse households. But even with the strong rebound in multifamily construction, tight rental markets make it difficult for low- and moderate-income renters to find housing they can afford. As a result, the number of cost-burdened renters set another record last year. Addressing the challenge of affordability in a time of rising overall demand will require greater efforts from both the public and private sectors to expand the range of rental housing options.”