Rent is taking an increasingly large bite out of Angelenos’ paychecks, as a surge in apartment construction fails to keep up with crushing demand.
That’s the thrust of a report released Wednesday from Harvard University’s Joint Center for Housing Studies that concludes rental affordability is a growing problem locally and across the country.
In Los Angeles and Orange counties, 58.5% of renters spent more than 30% of their income on housing last year, the point at which economists consider it burdensome, the report found.
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