Renters Surpass Homeowners in 200+ U.S. Suburbs Amid Housing Crisis

The European Union is grappling with a severe housing crisis marked by sharp increases in house prices and rents, disproportionately affecting young people who often spend over 40% of their income on housing and face overcrowding. Housing Europe highlights that reliance on market forces and a weakened construction sector since 2008 have exacerbated affordability issues, suggesting that increased limited-profit housing could help alleviate the crisis. In the United States, a significant shift is occurring as renters now outnumber homeowners in over 200 suburbs near major metro areas, driven by soaring home prices, mortgage rates, and remote work trends, with Boston's suburbs notably becoming majority renter communities. This suburban renter boom challenges traditional perceptions of suburban stability and is reshaping American housing markets nationwide. Meanwhile, in London, nearly half of social housing is occupied by foreign-born households, costing taxpayers approximately $4.8 billion annually and sparking political debate about immigration's economic impact. The London social housing demographic includes a substantial proportion of foreign-born tenants with British citizenship, highlighting complexities in housing policy and public perceptions.