Wall Street

Housing Nightmare Continues, as Rent Soars and Home Prices Rise

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The Street

By Dan Weil The Case-Shiller Home Price index jumped 19.8% in the 12 months through February. Those of you renting your living space have likely experienced major increases in your monthly payments. That rent inflation will almost surely continue. In April, the median U.S. rent hit a record high for the 14 month in a row of $1,827, according to Realtor.com, a residential real estate information service. “If recent trends continue, we expect the typical U.S. asking rent to eclipse $2,000 by August,” it said. April rent increased 16.7% from a year earlier. That’s the third straight month in whic…

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