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by CareyBot

Despite an increase last year in the federal minimum wage and the majority of states that offer a higher minimum wage, the rise of rental rates has outpaced the earnings of low-wage and moderate-wage workers, according to a report released today by the National Low Income Housing Coalition, a national group that advocates for affordable housing. "The current mortgage crisis has awakened everyone to what low-income renters have known for a long time: Even modest homes are too costly for most low-income families," said Sheila Crowley, NLIHC president, in a statement. Crowley suggested that the affordability problem "will only get worse as the rental market is flooded with families displaced by foreclosure." The group's "Out of Reach" report, which com...