Rents are surging from New York to L.A., as the average monthly U.S. rent for apartments hit an all-time high $1,008 in Q1. It makes sense: Demographics are favorable for rentals as a large cohort moves into the 25-to-35 age group, people who have lost their homes to foreclosure or short sales turn to renting, and some people have probably stopped doubling up.
Rents are surging from New York to L.A., as the average monthly U.S. rent for apartments hit an...
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