A long-term housing supply crunch is mixing with federal stimulus policies. That's pushing rents up in cities and small towns alike.
Economists say rent will be among the fastest growing portions of household expenses in coming years.Market indicators suggest that rent hikes are coming in 2022.
The problems aren't confined to the usual suspects, however. Rents for single-family homes across the country jumped more than 9% on average in August 2021 from the prior year, according to a report from the analytics firm CoreLogic. "If I had signed the lease ... it would be taking a lot of my savings. And so I decided to move to a new building, losing about 150 square feet," she told CNBC.
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