The article cites a few reasons for this, strict lending, wage increases have not kept up with real estate pricing so many cannot afford to buy, & not many choices if renters wanted to move. To top it off rental rates have been skyrocketing because of the demand so saving is difficult!
The share of renters opting to renew their leases hit an all-time high of 53.8% through the first seven months of the year, up from 52.9% in 2015, according to new data from property management software provider RealPage.
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