{"id":343343,"date":"2018-01-11T18:28:10","date_gmt":"2018-01-11T17:28:10","guid":{"rendered":"http:\/\/rinf.com\/alt-news\/newswire\/rental-costs-rising-beyond-reach-in-nashville\/"},"modified":"2018-01-11T18:28:10","modified_gmt":"2018-01-11T17:28:10","slug":"rental-costs-rising-beyond-reach-in-nashville","status":"publish","type":"post","link":"https:\/\/rinf.com\/alt-news\/newswire\/rental-costs-rising-beyond-reach-in-nashville\/","title":{"rendered":"Rental costs rising beyond reach in Nashville"},"content":{"rendered":"<div id=\"content\">\n<h3 class=\"nomargin\">\u00a0<\/h3>\n<h2>Rental costs rising beyond reach in Nashville<\/h2>\n<h5>\n<p>    By<br \/>\n    Warren\u00a0Duzak<br \/>\n    <br \/>11 January 2018<\/p>\n<\/h5>\n<p>Rent increases that have made life almost impossible for working class families nationwide are a serious problem in Nashville, Tennessee. The rise in rental costs, which out-distance incremental increases in wages, can be traced to the financial feeding frenzy of investors, hedge fund operators and real estate speculators following the 2008 crash.<\/p>\n<p>\u201cLocals complain that the rents are taking a bigger bite out of their paychecks,\u201d the <em>Wall Street Journal<\/em> reported, as far back as 2014, on rent increases in Nashville.<\/p>\n<p>The real human costs\u2014homelessness, lack of money for food, clothes and heat\u2014were trivialized under the headline, \u201cNashville rent increases have residents singing the blues.\u201d<\/p>\n<p>\u201cWhile apartment rents are up 18% since 2009,\u201d the newspaper reported, \u201cmedian household income in the Nashville metro area has grown by 5%, to $53,671, according to Moody\u2019s Analytics. More than half of renter households in the Nashville metro area are considered cost-burdened, meaning they pay more than 30% of their income to rent.\u201d<\/p>\n<p>In its January 8 <a href=\"https:\/\/www.wsws.org\/en\/articles\/2018\/01\/08\/hous-j08.html\">story<\/a>, \u201cRising rents put low income US renters in severe jeopardy,\u201d the WSWS outlined the plight of renters nationwide. \u201cA December report on the housing crisis that appeared in a publication of the Board of Governors of the US Federal Reserve, called <em>FEDS Notes<\/em>, reports on the distress for families in the lowest US income quintile brought on by a squeeze in monthly income from rising rents and stagnant or falling wages.<\/p>\n<p>\u201cIn general, these families earn under $25,000 annually. The lowest-paid fifth of US households includes workers making more than minimum wage (and) rent increases have rapidly and relentlessly outstripped stagnant or&#8230;<\/p>\n<\/div>\n<p><a href=\"http:\/\/www.wsws.org\/en\/articles\/2018\/01\/11\/nash-j11.html\">Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0 Rental costs rising beyond reach in Nashville By Warren\u00a0Duzak 11 January 2018 Rent increases that have made life almost impossible for working class families nationwide are a serious problem in Nashville, Tennessee. The rise in rental costs, which out-distance incremental increases in wages, can be traced to the financial feeding frenzy of investors, hedge [&hellip;]<\/p>\n","protected":false},"author":2526,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[519],"tags":[],"class_list":{"0":"post-343343","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-newswire"},"_links":{"self":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/343343","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/users\/2526"}],"replies":[{"embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/comments?post=343343"}],"version-history":[{"count":0,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/posts\/343343\/revisions"}],"wp:attachment":[{"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/media?parent=343343"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/categories?post=343343"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rinf.com\/alt-news\/wp-json\/wp\/v2\/tags?post=343343"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}