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Metro Denver's average rents dropped 1.3% to $1,484.
Rents continue to rise and take a larger share of income, leaving families unable to save the necessary funds for a down payment. This could lead to a new kind of housing crisis as a surge of renters may face a shortage of affordable housing. Research from the Urban Institute predicts that the US home ownership rate, currently at 63.7%, will continue to slip for the next fifteen years. And less than half of new households formed over the next two decades are expected to own homes, compared to nearly 75% of new households in the 1990s. [WSJ]
