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CNBC Reports Rate Increases in Rental Housing
Last week, CNBC reported on a rent.com survey that an overwhelming 88% of rental housing property managers raised their rents in the last 12 months, and more rent increases are expected this year. The survey in the CNBC report included more than 500 property managers.  CNBC also noted that this anticipated 8% increase for 2015 is on top of a 6% increase in 2014.
CNBC also noted that one in four renters were severely rent burdened, spending more than 50% of their income on rent, in 2013.  The total number of households severely rent burdened was 11.2 million and that number is set to rise to a record 11.8 million this year and 13.1 million by 2025.

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