The Newtonian laws of real estate dictate that for every action there is an equal and opposite reaction. So when the sales market for new homes crashed and immolated a decade ago, folks flocked en masse to rentals in America’s top metros. But here’s the thing: They never stopped flocking! More Americans are renting now than at any point since LBJ was in the White House, according to a Pew Research Center analysis last year—nearly 37% of households, in fact.
And with rents in America’s most seductive urban meccas rising just as fast as home prices, what was once considered a safety hatch has become more of a mousetrap. Urban dwellers shell out far more than they should for their monthly nut, making it ever tougher to save up for a home.
So what’s a city lover to do? READ MORE …
