New York City rents grew seven times faster than wages last year, tightening affordability crunch [Yahoo! Finance]
Premier, Inc. - Class A (PINC)
Last premier, inc. - class a earnings: 2/4 07:00 am
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Source: Yahoo! Finance
Wages caught up last year nationally and in about half of major metros. In New York City , rents grew more than seven times faster than wages last year — the largest gap in the country. SEATTLE May 7, 2024 /PRNewswire/ -- Rent prices have surged in recent years, and wages have not kept pace. While last year was a bright spot — wages grew faster than rents nationally and in almost half of major U.S. metro areas — the opposite was true in New York City , where the nation's largest gap emerged. Since 2019, U.S. rents have grown 1.5 times faster than wages, according to a new analysis of rental data from Zillow® and StreetEasy®, along with wage data from the Bureau of Labor Statistics. Demand for rentals from the large millennial generation — many of whose members have remained renters longer than previous cohorts — and Gen Z adults has run headlong into the country's housing shortage , causing rents to quickly rise. That trend cooled last year, as national rent growth (3.4%) was
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PINC
Earnings
- 5/7/24 - Beat
PINC
Sec Filings
- 5/16/24 - Form 4
- 5/15/24 - Form 144
- 5/8/24 - Form 8-K
- PINC's page on the SEC website