A new report finds that millions of Americans are spending between 30% and 50% on rent and utilities.
Ask just about anyone; rent in the U.S. is insane right now.
According to a
“While each of these decreases represents a significant decline in access to homeownership, the outsized decrease for Black and Hispanic households works against efforts to reduce racial homeownership rate gaps,” the report’s authors wrote.
While what 2024’s economy brings is still yet to be seen, Airgood-Obrycki didn’t have an optimistic outlook. She told the Washington Post despite the average rent costs coming down slightly, the country, by and large, is still in “pretty bad shape.”
The report notes, “With Black and Hispanic homeownership rates still fully 28.6 and 25.8 percentage points below white homeownership rates, policymakers and practitioners have a long way to go to reduce these disparities.”
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