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Thursday, August 19, 2021 8:19:30 PM
Eviction bans also are playing a role in keeping the market tight, because about 6% of tenants are normally forced to vacate each year. Zandi estimates the country’s shortage of affordable rentals is the worst since at least the post-World War II period.
Developers are adding new supply. But in the short run, the squeeze will have economic consequences because workers can’t easily move for jobs and will have less to spend on things other than housing. Soaring rental costs also are a contributor to the Federal Reserve’s inflation expectations."
https://www.bloomberg.com/news/articles/2021-08-18/housing-hunt-turns-to-desperation-with-record-rise-in-u-s-rents
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