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Apartment shortages squeeze young, poor ; As units dwindle, rents march higher
[Chicago Final Edition]
Chicago Tribune - Chicago, Ill.
Subjects: Shortages; Low income groups; Apartments; Affordable housing
Author: Sharon Stangenes, Tribune staff reporter Tribune staff reporters Brenda Richardson and Suzanne Cosgrove contributed to this report
Date: Mar 9, 2006
Start Page: 1
Section: Business
Abstract (Document Summary)

PHOTO GRAPHICS 2; [LaDonna Dennis] has been searching since January for a new apartment on the South Side. "If I could find a two-bedroom for $850, I'd be happy," she says. Decrease in rental units spurs rent hikes From 1993 to 2003, annual losses of about 200,000 units in the U.S. rental housing market have caused prices to surge beyond what many families can afford, especially in large metropolitan areas. Sources: Joint Center for Housing Studies, U.S. Department of Housing and Urban Development, Bureau of Labor Statistics Chicago Tribune - See microfilm for complete graphic Market shifts Loss in rental units has been concentrated in the lower end of the housing market. U.S. RENTAL STOCK Loss/gain from 1993 to 2003, in millions of units Source: Joint Center for Housing Studies Chicago Tribune - See microfilm for complete graphic

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