Rents are up more than 30% in Austin, Seattle, and Cincinnati. In Los Angeles the median asking rent is $3,400. Even in formerly affordable cities such as Nashville it's now $2,140, up 32% from last year. | via NPR
College students Sanaa Sodhi, right, and Cheryl Tugade look for apartments in Berkeley, Calif. in March of this year.
Drotar's a single mom with a daughter in 5th grade. She's been trying to find a house she can afford to buy. "My rent is increasing 22% this year," she says."It's harder and harder to save more for a down payment."from Redfin shows that nationally listed rents for available apartments rose 15% from a year ago. And the median listed rent for an available apartment rose above $2,000 a month for the first time.
Fairweather says homebuilders built fewer homes in the decade starting in 2010 than in any 10-year period since the 1960's."So I think it's going to take at least another decade to dig ourselves out of this hole."She says states changing zoning laws to allow for smaller, more affordable homes built closer together would help.
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