By Tyler Durden
Authored by Sam Radbil via Abodo,
Politically, culturally, and ecologically, 2017 was a year of anxiety. Hurricanes and flooding ravaged the Virgin Islands, Puerto Rico, and Texas. Political controversies dominated headlines and push-notifications. Relations with North Korea reached their lowest point in decades, raising fears of a nuclear standoff.
Economically, though, things remained stable in 2017. The economy continued to recover from the market crash of 2008, with unemployment reaching its lowest point in 17 years. Although homeownership is rebounding from its nadir last decade, renting now far outpaces ownership. According to a new report by the Joint Center for Housing Studies of Harvard University, renting households have been steadily rising since 2004, with 2017 marking the first slight decline in those 13 years. As of the middle of 2017, the JCHS estimates that there are about 43 million renters in the U.S. — more than a third of U.S. householders.
In an effort to give renters (and potential renters) market information in close to real time, ABODO releases monthly reports on rental trends throughout the year. Our Annual Rent Report is a more zoomed-out look at the year in renting. How did rent prices change nationally? At the state …read more