Tenants in Los Angeles used a formal city process to make an unconventional argument to stop the demolition– for now.
Charging stations could become a sought-after amenity, though structural and cost issues may come into play.
Homeowners’ median net worth is about $400,000. Renters? Just $10,000, according to the Aspen Institute’s Financial Security Program.
The market is seeing a return of concessions and incentives for renters as demand cools in many parts of the nation.
High interest rates and limited inventory are key factors in restricting affordability.
They plan to rent forever because they can’t afford to buy or they like the renting lifestyle.
When people have to spend more and more on rent, there’s not much left over for other essentials.
Investor purchases made up more than 1 in 5 home sales in December, according to CoreLogic.
“I’ve never in my life not been able to afford a two-bedroom apartment on a modest salary,” said Nashville-area resident Ellen Mahurin.
Corporations bought a record share of homes last year and can make it hard for regular homebuyers to compete.
