"Study Reveals Record High Housing Unaffordability for Half of U.S. Renters"
A new Harvard University report reveals that a record half of U.S. renters faced unaffordable housing in 2022, with nearly half of them paying more than 50% of their income for rent and utilities. The study shows that even households making $30,000 to $74,999 a year experienced a significant increase in housing unaffordability. The report also highlights the challenges faced by low-income renters and the lack of affordable housing options, leading to a growing gap between rents and incomes. Despite a softening rental market, the situation remains dire, with millions more people qualifying for federal housing subsidies due to the housing crisis.