As housing market soars, poorest renters are priced out
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Erin Maude returned to homeownership in December, three years after losing her condo in the U.S. foreclosure crisis. This time, she’s confident she’ll keep the house she bought with the help of a 14 percent raise and a Federal Housing Administration loan, which required little money down. Foreclosure News
According to a new study by the Harvard Joint Center for Housing Studies , a record number of Americans are renting homes and are struggling to pay their rent. In 2014, the number of renters spending more than 30% of their income on housing – the amount analysts say is the maximum we should spend […]
A new report finds the housing bust and the surge in foreclosures that followed has led to a fundamental shift in the makeup of renters, nearly 51 percent of whom are now older than 40. The report from Harvard University’s Joint Center for Housing Studies also says affordability problems are mounting as rents rise faster […]
Sharon Bell, her husband, and her three teenage children couldn’t even safely walk up the steps to their Baltimore apartment because the staircase was in disrepair. “The last step as you climb up, you had to take a giant step over,” she said. Foreclosure News
“Rent court” is a Baltimore institution where landlords try to force tenants to pay up or get out. It may also be a good place to gauge how America’s urban poor are faring in the face of affordable housing shortages and rampant gentrification. Foreclosure News