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TOO DAMN HIGH

Housing costs in the US are hitting a post-crisis peak

AP Photo/Elaine Thompson
As rent is rising, some apartments are shrinking.
By Matt Phillips
Published Last updated This article is more than 2 years old.

A rough gauge of housing costs known as owners equivalent rent, or OER, was up 2.8% in April, compared to April 2014. That’s the fastest year-over-year change since late 2007.

As we’ve explained before, this is largely a reflection of the rebounding health in the US economy. (See video, below.) Although it might not feel that way to those having to fork over more for their monthly living expenses.

 

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