Why renting is up and homeownership is down in "affordable" Cleveland
Why renting is up and homeownership is down in "affordable" Cleveland
In the years after the housing bubble burst, rentals became more common in almost every major U.S. city, according to a recent study by Marketplace and APM Research Labs. That increase includes cities like St. Louis; Charlotte, North Carolina; and Saint Paul, Minnesota, that have long been thought of as affordable places to buy a home. We look at what drove the rise of renting in one such city — Cleveland — and what decline in homeownership says about its economy.
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