Housing has long been the largest source of wealth for middle income families. But many renters cannot afford to buy as housing prices soar, which could fuel a generational divide.
Record high housing costs have pushed the wealth gap between renters and owners wider than ever. It's been a boon for owners even as many others are priced out.
"Institutional homebuying can also alter the fabric of neighborhoods by shifting the composition of residents away from owning and toward renting," the report read.
We want to hear from New Yorkers who rent driveways or have surprising parking garage arrangements.
President Trump’s recently announced executive order that would bar big investors from acquiring single-family homes includes an exemption that allows them to build homes for rent.
A new analysis from Lending Tree shows that renting is less expensive than owning a home with homeowners paying roughly 37% more per month than renters.