Rising rents could discourage homebuying, expert says

07/23/2014 | CNBC

Many renters are renting because they cannot afford to buy, and as rents rise faster than wages, the goal of homeownership is slipping further from their reach, said Susan Wachter, Wharton Business School professor. "As rents go up, it's harder in fact to save to buy that home, to have sufficient down payment to buy that first home," she said.

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