Post by Logan on Jul 2, 2016 23:10:21 GMT -6
With rent of $1,160 a month in Asbury Park taking up most of her family’s income, Susan Aquino began to search for a new apartment that would give her some breathing room.
The hunt didn’t last very long.
“We were looking for two bedrooms, and they were … $1,500 to $1,700 between October and March,” said Aquino, 43.
Aquino is part of a troublesome story playing out across New Jersey and the U.S. in the 10 years since the housing bubble peaked and then burst in a ruinous crash: As real estate has climbed back, homeowners are thriving while renters are struggling.
For many longtime owners, times are good. They’re enjoying the benefits of growing equity and reduced mortgage payments from ultra-low interest rates.
Read more: www.courierpostonline.com/story/news/2016/07/02/nj-homeowners-relieved-renters-squeezed/86646198/
The hunt didn’t last very long.
“We were looking for two bedrooms, and they were … $1,500 to $1,700 between October and March,” said Aquino, 43.
Aquino is part of a troublesome story playing out across New Jersey and the U.S. in the 10 years since the housing bubble peaked and then burst in a ruinous crash: As real estate has climbed back, homeowners are thriving while renters are struggling.
For many longtime owners, times are good. They’re enjoying the benefits of growing equity and reduced mortgage payments from ultra-low interest rates.
Read more: www.courierpostonline.com/story/news/2016/07/02/nj-homeowners-relieved-renters-squeezed/86646198/