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Rising rents bad for economy?

EconoMeter panel considers the impact

Roger Showley, SAN DIEGO UNION-TRIBUNE

Sunday, April 24, 2016

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Kelly Cunningham, National University System

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Answer: YES

San Diegans already pay among the highest shelter costs in the nation. On average, San Diego households spend nearly 38 percent of their budget on housing. Rising rent means even less is available for other spending among local businesses. It is daunting for renters to save enough for the down payment to purchase already excessively priced homes. The solution is to build more homes, but hurdles and costs to construction significantly hinder this from