Yesterday’s release on rising housing costs and its impact of preventing renters from becoming homeowners is making major headlines today in national and local media outlets.
In case you missed it, NAR’s Research team found that in the past five years, a typical rent rose 15 percent while the income of renters grew only 11 percent in 70 metro areas throughout the country.
New York (50.7 percent), Seattle (32.38 percent), San Jose, Calif., (25.6 percent), Denver (24.14 percent) and St. Louis (22.26 percent) have seen the largest rent increases since 2009.
This morning’s CBS News MoneyWatch segment started off with our findings. Click on the video above or view it here.