May’s numbers reflect a larger shift from owning to renting, says economist Patrick Newport.
The number of renters spending 50% or more of their income on housing and utilities is at an all time high, according to a recent study.
The good news is muted by the fact that the numbers, which are just coming off the bottom, are still very low.
Often thought to be a product of the recession, the trend—driven largely by older adults and immigration—has been growing for decades.
The department will sell up to $10 billion of its portfolio each month.
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