Midsize city rents are taking a bigger bite out of incomes
The Wall Street Journal reports that rents in cities like Nashville, Raleigh, and Atlanta have risen in recent years, causing residents to pay more of their income for rent.
Home prices in some of the worst-hit areas of the country have fallen far below pre-bubble levels, igniting concerns that properties in those markets are undervalued, according to analysis by Zillow.
The housing industry gave mixed reviews to the Obama administration's proposal to sell tens of thousands of foreclosed properties owned by government-backed entities and then convert them to rentals, reported the Wall Street Journal.