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Rent Crisis Persists Despite New Housing Law | Miami News
Description
Rent prices are skyrocketing across the country, with New York City two-bedrooms hitting $57K a year—more than two-thirds of the average income. Nationwide, half of renters are cost-burdened, spending over 30% of their earnings on housing, and for families with kids, that climbs to 50%. Despite a new law aimed at boosting supply, experts say it won’t ease prices anytime soon, as zoning rules and a five-million-home shortage keep driving up costs.
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