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Stock impact report

Housing: Priced-out homebuyers now face sky-high rents [DailyFinance (AOL.com)]

TransUnion (TRU) 
Last transunion earnings: 4/28 06:50 am Check Earnings Report
US:NYSE Investor Relations: investors.transunion.com
Company Research Source: DailyFinance
Price-strapped homebuyers sidelined by bidding wars, surging mortgage rates, and mounting inflation are facing yet another housing hurdle: sky-high rent . According to real estate brokerage Redfin , the median monthly rent in the U.S. surpassed $2,000 for the first time in May, rising 15.2% from a year earlier to a record high of $2,002. Although renting has become more expensive, for many it's the only option as rising mortgage rates have reduced the buying power of entry-home shoppers and slashed confidence levels. “A lot of the people that are not able to purchase have now found themselves bidding for rental homes,” Peter Beckford, a premier realtor for RE/MAX based in Atlanta, told Yahoo Live (video above). “We’ve gotten quite an influx of applicants and it’s getting pretty hectic.” It's not surprising that some homebuyers have decided to put off their plans for purchase and turn to renting. As home prices register double-digit growth, rising rates have pushed the monthly mortgage Show less Read more
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