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“The simple fact is we are in the midst of the worst rental affordability crisis that this country has known," HUD Secretary Donovan said at a recent housing conference.
This statement coincided with the release of a report entitled "America's Rental Housing: Evolving Markets and Needs." Issued by the Harvard Joint Center for Housing Studies, the report discusses how the recent economic turmoil underscored the many advantages of renting and raised the barriers to homeownership, sparking a surge in demand that has buoyed rental markets across the country.
