How Financial Intermediaries Affect Renter Housing Costs

Since the Great Recession, the share of rental units that were renovated or substantially improved has doubled from its pre-crisis peak. This growth has contributed to the significant decline in lower-cost rental units and substantial increases in rent-to-income ratios, which have been at record highs.  In new research that he will discuss at this talk, Michael Reher, a doctoral student in economics who is one of the Joint Center’s Meyer Doctoral Fellows, has been examining whether and how increases in the supply of financing for rental improvement projects had led to the notable increase in improvements to rental units.