<html><head><meta http-equiv="Content-Type" content="text/html; charset=utf-8"></head><body style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class="">MarketWatch <span style="color: rgb(85, 85, 85); font-family: OpenSans, sans-serif; font-size: 18px; font-variant-ligatures: normal; orphans: 2; widows: 2; background-color: rgb(255, 255, 255);" class="">Published: </span><span style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; outline: 0px; font-size: 18px; vertical-align: baseline; background-color: rgb(255, 255, 255); color: rgb(85, 85, 85); font-family: OpenSans, sans-serif; font-variant-ligatures: normal; orphans: 2; widows: 2; background-position: 0px 0px; background-repeat: initial initial;" class="">Dec 14, 2017</span><div class=""><br class=""></div><div class=""><h3 class="article__headline" style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-variant-ligatures: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 1.125; font-family: "Whitney SSm", Helvetica, Arial, sans-serif; vertical-align: baseline; width: 310px; background-image: none; color: rgb(18, 34, 37); orphans: 2; widows: 2;"><a class="link" href="https://www.marketwatch.com/story/were-still-building-the-wrong-kind-of-homes-for-renters-2017-12-14" style="box-sizing: inherit; margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant-ligatures: inherit; font-variant-position: inherit; font-variant-caps: inherit; font-variant-numeric: inherit; font-variant-alternates: inherit; font-variant-east-asian: inherit; font-weight: inherit; font-stretch: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline; color: inherit; text-decoration: none; font-size: 14px;">We’re still building the wrong kind of homes for renters</a></h3><div style="box-sizing: inherit; margin: 0px; padding: 2px 0px 0px; border: 0px; font-variant-ligatures: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 1.375; vertical-align: baseline; color: rgb(18, 34, 37); background-color: rgb(255, 255, 255); orphans: 2; widows: 2;" class="">Several years into a rental boom, most of the homes being constructed are still for higher-income Americans, leaving millions behind.</div><div style="box-sizing: inherit; margin: 0px; padding: 2px 0px 0px; border: 0px; font-variant-ligatures: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 1.375; vertical-align: baseline; color: rgb(18, 34, 37); background-color: rgb(255, 255, 255); orphans: 2; widows: 2;" class=""><a href="https://www.marketwatch.com/story/were-still-building-the-wrong-kind-of-homes-for-renters-2017-12-14" class="">https://www.marketwatch.com/story/were-still-building-the-wrong-kind-of-homes-for-renters-2017-12-14</a></div><div style="box-sizing: inherit; margin: 0px; padding: 2px 0px 0px; border: 0px; font-variant-ligatures: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 1.375; vertical-align: baseline; color: rgb(18, 34, 37); background-color: rgb(255, 255, 255); orphans: 2; widows: 2;" class=""><br class=""></div><div style="box-sizing: inherit; margin: 0px; padding: 2px 0px 0px; border: 0px; font-variant-ligatures: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 1.375; vertical-align: baseline; color: rgb(18, 34, 37); background-color: rgb(255, 255, 255); orphans: 2; widows: 2;" class="">Excerpt</div><div style="box-sizing: inherit; margin: 0px; padding: 2px 0px 0px; border: 0px; font-variant-ligatures: normal; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: 1.375; vertical-align: baseline; color: rgb(18, 34, 37); background-color: rgb(255, 255, 255); orphans: 2; widows: 2;" class=""><p style="box-sizing: inherit; margin: 0px 0px 15px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; color: rgb(51, 51, 51); font-variant-ligatures: normal; background-position: 0px 0px;" class="">Demand for rental homes soared in the years after the recession, as homeownership remained either out of reach, unappealing, or both, for many Americans.</p><p style="box-sizing: inherit; margin: 0px 0px 15px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; color: rgb(51, 51, 51); font-variant-ligatures: normal; background-position: 0px 0px;" class="">But even as the skyrocketing increases in rental households finally slacken, a new report confirms that the tilt toward constructing rental properties for high-income Americans is leaving far too many renters behind.</p><div class=""><p style="box-sizing: inherit; margin: 0px 0px 15px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; color: rgb(51, 51, 51); font-variant-ligatures: normal; background-position: 0px 0px;" class="">In the recent construction boom, “much of this new housing is targeted to higher-income households and located primarily in high-rise buildings in downtown neighborhoods,” wrote researchers at Harvard’s Joint Center for Housing Studies in their annual <a href="http://www.jchs.harvard.edu/americas-rental-housing-2017-interactive-tools" target="_new" class=" icon" style="box-sizing: inherit; padding: 0px; margin: 0px; vertical-align: baseline; color: rgb(100, 140, 148); outline: 0px; background-position: 0px 0px; background-repeat: initial initial;">America’s Rental Housing report</a>.</p><p style="box-sizing: inherit; margin: 0px 0px 15px; padding: 0px; border: 0px; outline: 0px; vertical-align: baseline; color: rgb(51, 51, 51); font-variant-ligatures: normal; background-position: 0px 0px;" class="">The median asking rent for new apartments increased 27% between 2011 and 2016 in real terms, to $1,480, the Joint Center noted. Households would need an income of at least $59,000 to afford these new units and not be “rent-burdened.” Actual median renter income was $37,300 during that time.</p><div style="font-family: "Whitney SSm", Helvetica, Arial, sans-serif; font-size: 0.85714rem;" class=""><a href="https://www.marketwatch.com/story/were-still-building-the-wrong-kind-of-homes-for-renters-2017-12-14" class="">https://www.marketwatch.com/story/were-still-building-the-wrong-kind-of-homes-for-renters-2017-12-14</a></div></div><div style="font-family: "Whitney SSm", Helvetica, Arial, sans-serif; font-size: 0.85714rem;" class=""><br class=""></div></div><div class="">
<div style="word-wrap: break-word; -webkit-nbsp-mode: space; line-break: after-white-space;" class=""><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">++++++++++++++++++++++++++</div><div style="color: rgb(0, 0, 0); font-family: Verdana; font-size: 14px; font-style: normal; font-variant-caps: normal; font-weight: normal; letter-spacing: normal; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; word-spacing: 0px; -webkit-text-stroke-width: 0px;">"For decades, we called it ‘global warming,’ an innocuous-sounding phrase invoking a gentle increase in worldwide temperatures, like turning up the thermostat in a house.”<br class=""><br class=""><a href="https://www.seas.harvard.edu/content/from-sea-to-rising-sea-climate-change-in-america" class="">https://www.seas.harvard.edu/content/from-sea-to-rising-sea-climate-change-in-america</a></div></div>
</div>
<br class=""></div></body></html>