Rents Drop in November, But Affordability Issues Remain -- Market Talk

Dow Jones

Dec 17, 2024

1148 ET - Rents fell by 1.1% year-over-year to a median of $1,703 in November, according to Realtor.com. Despite this decline, affordability issues persist, with minimum wage workers in 44 of the top 50 U.S. metros needing to work extended hours to afford rent. Realtor.com says that while lower rents and higher minimum wages offer some relief, new construction is crucial for improving affordability. In Nashville, two minimum wage earners would need to work 82 weekly to manage rent. Even in high-wage areas like San Francisco and San Diego, the hours required remain high. In Denver and Phoenix, two minimum wage earners would each need to work 38 and 40 hours per week, respectively, to afford the median rent. (chris.wack@wsj.com)

(END) Dow Jones Newswires

December 16, 2024 11:49 ET (16:49 GMT)

At the request of the copyright holder, you need to log in to view this content

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2492114896"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"isCrawlerRequest":true,"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2492114896\",edition:\"fundamental\",auth_exemption:1,,,undefined,":{"share":"https://ttm.financial/m/news/2492114896?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-17 00:49","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2492114896","market":"other","top_or_hot":-1,"title":"Rents Drop in November, But Affordability Issues Remain -- Market Talk","media":"Dow Jones","content":"<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1148 ET - Rents fell by 1.1% year-over-year to a median of $1,703 in November, according to Realtor.com. Despite this decline, affordability issues persist, with minimum wage workers in 44 of the top 50 U.S. metros needing to work extended hours to afford rent. Realtor.com says that while lower rents and higher minimum wages offer some relief, new construction is crucial for improving affordability. In Nashville, two minimum wage earners would need to work 82 weekly to manage rent. Even in high-wage areas like San Francisco and San Diego, the hours required remain high. In Denver and Phoenix, two minimum wage earners would each need to work 38 and 40 hours per week, respectively, to afford the median rent. (chris.wack@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 16, 2024 11:49 ET (16:49 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Rents Drop in November, But Affordability Issues Remain -- Market Talk</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nRents Drop in November, But Affordability Issues Remain -- Market Talk\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-12-17 00:49</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<font class=\"NormalMinus1\" face=\"Arial\">\n<p>\n     1148 ET - Rents fell by 1.1% year-over-year to a median of $1,703 in November, according to Realtor.com. Despite this decline, affordability issues persist, with minimum wage workers in 44 of the top 50 U.S. metros needing to work extended hours to afford rent. Realtor.com says that while lower rents and higher minimum wages offer some relief, new construction is crucial for improving affordability. In Nashville, two minimum wage earners would need to work 82 weekly to manage rent. Even in high-wage areas like San Francisco and San Diego, the hours required remain high. In Denver and Phoenix, two minimum wage earners would each need to work 38 and 40 hours per week, respectively, to afford the median rent. (chris.wack@wsj.com) \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 16, 2024 11:49 ET (16:49 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2492114896","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492114896","pubTimestamp":1734367740,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"1148 ET - Rents fell by 1.1% year-over-year to a median of $1,703 in November, according to Realtor.com. Despite this decline, affordability issues persist, with minimum wage workers in 44 of the top 50 U.S. metros needing to work extended hours to afford rent. Realtor.com says that while lower rents and higher minimum wages offer some relief, new construction is crucial for improving affordability. In Nashville, two minimum wage earners would need to work 82 weekly to manage rent. Even in high-wage areas like San Francisco and San Diego, the hours required remain high. In Denver and Phoenix, two minimum wage earners would each need to work 38 and 40 hours per week, respectively, to afford the median rent. ","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4588":"碎股","BK4585":"ETF&股票定投概念","NWS.AU":"NEWS CORP - CLASS B- CDI","BK7038":"出版","NWSA":"新闻集团","LU1169590202.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"I\" (USD) ACC","BK4111":"出版","NWS":"新闻集团","LU1169589451.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"A\" (USD) ACC"},"translate_title":"11月份租金下降，但负担能力问题依然存在——市场讨论","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NWS":0.9,"NWSA":0.9,"NWS.AU":0.9},"content_text":"1148 ET - Rents fell by 1.1% year-over-year to a median of $1,703 in November, according to Realtor.com. Despite this decline, affordability issues persist, with minimum wage workers in 44 of the top 50 U.S. metros needing to work extended hours to afford rent. Realtor.com says that while lower rents and higher minimum wages offer some relief, new construction is crucial for improving affordability. In Nashville, two minimum wage earners would need to work 82 weekly to manage rent. Even in high-wage areas like San Francisco and San Diego, the hours required remain high. In Denver and Phoenix, two minimum wage earners would each need to work 38 and 40 hours per week, respectively, to afford the median rent. (chris.wack@wsj.com) \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  December 16, 2024 11:49 ET (16:49 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}