5 of the Worst Cities to Be a Renter Unless You’re Fabulously Wealthy

I have this up over at AlterNet: 5 of the Worst Cities to Be a Renter Unless You’re Fabulously Wealthy,

The housing market is supposedly recovering, yet the homeownership rate is dropping. Meanwhile rents in urban areas were already high but now are absolutely skyrocketing. What’s going on? As millions lost their homes many of the houses were and are being bought up by large investors. And what do these investors want? They want rent and lots of it. According to a NY Times report, In Many Cities, Rent Is Rising Out of Reach of Middle Class, “In December, Housing Secretary Shaun Donovan declared ‘the worst rental affordability crisis that this country has ever known.’ ”

Click through to read the rest.

m4s0n501

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