Why rent prices are rising so quickly

Fresh numbers from fall 2021 suggest that rents will increase at a rapid pace in the coming years. That's a problem for Americans; many spend 30% or more of their income on rent. A decadelong slowdown in house building is coming to a close, which could help renters. But the new developments in construction are generally for high-end and luxury apartment units. Experts say the market conditions are pushing people further away from their jobs and weighing on the economy writ large.