Activist Jimmy McMillan popularized the phrase “the rent is too damn high.”
Turns out, he was right.
According to a new study conducted by New York University’s Furman Center and Capital One from 2006 to 2014 the number of renters in 11 major U.S. Metropolitan areas increased by 22 million people. At the same time, the number of affordable rental units fell. While this impacts low-income people the hardest, it also affects an increasing number of people up the income-ladder. In the city and in the suburbs.
Ingrid Ellen Gould is a co-author of the study, and she explains what is driving this shift.
Listen to the interview on the player above to find out more.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.