U.S. residents are now spending 30% of their income on rent, the highest in more than 20 years of Moody’s tracking the data.

U.S. residents are now spending 30% of their income on rent, the highest in more than 20 years of Moody's tracking the data. "Rising mortgage rates caused many households to be priced out from homebuying and would-be buyers remained to remain renters," driving prices higher.

— Lisa Abramowicz (@lisaabramowicz1) January 19, 2023