Rent Crisis Driven by Housing Shortage | Detroit News

Rent in the U.S. is spiraling out of control, with a nationwide housing shortage forcing prices sky-high—especially in cities like New York, where a two-bedroom apartment costs over $57K annually, eating up more than two-thirds of average household income. Nearly half of all renters are cost-burdened, and that jumps to 54% for families with kids. The root cause? A staggering 4.7 million missing homes, fueled by decades of underbuilding and stifling zoning laws. Even with a new bipartisan bill aimed at boosting supply, experts say relief won’t come soon—prices will keep climbing until we finally build enough homes to meet demand. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/d21a70e9256e53e2