Harvard report finds housing 'affordability crisis'

From the Boston Globe: Rent and utility costs have risen faster than incomes in recent years, pushing the number of renters who must spend more than half their monthly income on housing to record levels, according to a report by the Harvard Joint Center for Housing Studies. The study, released yesterday, described an “affordability crisis’’ worsened by the recent recession, which eroded family incomes even as record foreclosures pushed more people into the rental market, driving up prices. Read more...