Justice
Since 2008, Only High-Income People Have Seen Their Housing Costs Drop
Apartment List research finds that housing markets are only exacerbating the gap between the rich and poor, and homeowners and renters.
The 1 percent may be hoarding America’s wealth, but the 25 percent are hoarding its housing opportunity.
That’s according to an Apartment List analysis of changing incomes and housing rates in the U.S. It found that the current state of the housing market both exacerbates and mirrors the economic inequality widening at the national and local level. Incomes are growing fastest for the country’s wealthiest, but at least for the top quarter of earners, their housing costs are also falling fastest. Meanwhile, it’s Americans in the bottom 10 percent of incomes whose rents and mortgages are getting more expensive.