“The ‘American dream’ may or may not be a single-family home in the suburbs, but the American reality is looking more and more like a multifamily rental property.
“The Joint Center for Housing Studies of Harvard University (JCHS) publishes its “State of the Nation’s Housing” reports annually, and the 2015 edition reveals that housing in the United States continues to evolve in the wake of the housing bust, the slow economic recovery, and the demographic changes in the country’s population.
“Overall, the report found that the housing recovery has stalled somewhat, with homeownership rates continuing to drop. Single-family construction is up slightly, but remains at historically low levels. By contrast, rental markets have grown substantially, and the construction of multifamily units has risen. Despite this, the demand for rental properties continues to outpace supply, leading to rising rents and greater burdens on those with the lowest incomes.”
Read this report in its entirety at The Journalist’s Resource.
