IDEAS home Printed from https://ideas.repec.org/a/bba/j00004/v3y2024i2p74-82d314.html
   My bibliography  Save this article

Post-Pandemic Rental Housing Affordability Economics in the U.S., U.K., & Canada

Author

Listed:
  • Grant Alexander Wilson

    (Hill & Levene Schools of Business, University of Regina, Regina, Saskatchewan, Canada)

  • Jason Jogia

    (Chief Investment Officer, Avenue Living, Calgary, Alberta, Canada)

  • Tyler Case

    (Edwards School of Business, University of Saskatchewan, Saskatoon, Saskatchewan, Canada)

Abstract

Rental unaffordability is defined as spending more than 30% of a household’s gross income on rent. Post-pandemic inflation and interest rate increases have intensified rental unaffordability. This research examines rental affordability in the U.S., the U.K., and Canada. It also explores the effect of renters’ “affordability knowledge” – defined as the expertise tenants have and use to make economical rental housing choices – on rent expenditure and affordability positioning and compares personal finances, economic perspectives, and demographics based on renters in affordable and unaffordable situations. The results show that nearly two-thirds of the renters studied are in unaffordable rental situations. Interestingly, affordability knowledge was found to reduce rent spent and increase affordability situations. Significant demographic differences were found between those in affordable and unaffordable rental situations, including rent spending, food spending, transportation spending, savings, perceived homeownership likelihood, and age. The research offers important insight into current rental affordability economics, recommendations for policymakers, and opportunities for real estate organizations.

Suggested Citation

  • Grant Alexander Wilson & Jason Jogia & Tyler Case, 2024. "Post-Pandemic Rental Housing Affordability Economics in the U.S., U.K., & Canada," Economic Analysis Letters, Anser Press, vol. 3(2), pages 74-82, June.
    • Handle: RePEc:bba:j00004:v:3:y:2024:i:2:p:74-82:d:314
    as

    Download full text from publisher

    File URL: https://www.anserpress.org/journal/eal/3/2/58/pdf
    Download Restriction: no
    File URL: https://www.anserpress.org/journal/eal/3/2/58
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Szumilo, Nikodem & Vanino, Enrico, 2021. "Mortgage affordability and entrepreneurship: Evidence from spatial discontinuity in Help-to-Buy equity loans," Journal of Business Venturing, Elsevier, vol. 36(4).
    2. Grant Alexander Wilson & Anthony Giuffre, 2022. "Private Rental Target Markets: A Comprehensive Spectrum," International Real Estate Review, Global Social Science Institute, vol. 25(1), pages 137-159.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.

      Corrections

      All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bba:j00004:v:3:y:2024:i:2:p:74-82:d:314. See general information about how to correct material in RePEc.

      If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

      If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

      If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

      For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ramona Wang (email available below). General contact details of provider: https://www.anserpress.org .

      Please note that corrections may take a couple of weeks to filter through the various RePEc services.

      IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.