Source: Herald Tribune —
Q: I was renting a townhome when my landlord sold the property. I was paying $1,200 per month as a single parent with one kid. The new owner told me that the Realtor said he could charge me more money for rent. So, he raised the rent on me because the Realtor told him he could.
I suppose the Realtor wanted the sale to go through in order to collect the commission. But the Realtor is hurting folks that can’t afford the rent! My job did not pay enough, so I moved out.
A: In today’s real estate market, it isn’t just housing prices that are rising; rents are rising, in some cases astronomically. That is making rents increasingly unaffordable for a larger number of Americans.
