Rents have risen 7 percent in the past year while incomes have failed to keep pace, only inching up by an average of 1.8 percent.
Many people are finding it more difficult to afford to pay their rent, which has led to a spike in evictions in the past year. The Neighborhood Law Clinic at the University of Wisconsin Law School estimates several million families face eviction each year. Once renters are out, it can be difficult for families to get back into a rental. Many landlords shy away from renting to someone with a previous default on his or her record. Heightening the problem, once-affordable apartments are being converted into million-dollar condos, which has forced more renters out. Read Best Time To Get a Rental Deal?
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