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Harvard Study Finds: The Rent Is Way Too High

Rent Is Too Damn High Party Founder Jimmy McMillan
Rent Is Too Damn High Party Founder Jimmy McMillanPhotograph by Kathy Kmonicek/AP Photo

Since the 1980s, rents (right scale) have risen, while incomes (left scale) have fallen. Both series are adjusted for inflation
Source: Joint Center for Housing Studies

If you can’t afford to own, you can rent. But what if you can’t afford to rent, either? Millions of Americans are in precisely that situation, according to a study released today by the Joint Center for Housing Studies of Harvard University. The availability of apartments, especially cheaper ones, hasn’t nearly kept up with demand, and the problem has worsened since the 2007-09 recession, the study says.