Renting Becoming Harder Than Ever in Major Cities

for rent

It’s been pretty well documented in recent months that rents are rising steadily nationwide.

But in a new video report by CNBC, the network revealed on Thursday just how quickly prices are skyrocketing in some of the country’s most popular metro areas.

“At least six out of 10 people in Boston, L.A., New York and Miami now rent instead of own, and more than half of all tenants pay what experts consider unaffordable rents,” says Diana Olick. “The bottom line: To save money, stay put. The more recently a place came on the market, the less affordable it’s likely to be.”

Image via flickr/Charleston’s TheDigitel

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