The average down payment now takes nearly 7.5 years to save up, and the effect that stat is having on the market is adding to the number of cost-burdened Americans nationwide.
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Study Examines How Many U.S. Renters Remain Cost-Burdened
While elevated housing costs continue to hinder homebuyers and renters nationwide, a new study from Apartment List revealed that the share of American renters who are cost-burdened has risen to the highest level since 2012, according to recent Census data.
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