My son and daughter-in-law have been living in a single-level, older apartment unit, and have just been informed that they have to move out within a month because it had been sold and was going to be demolished. A modern, high-rise apartment and condo complex will take its place and will rent for $900 a month.
My son and daughter-in-law are a young couple just starting out, and their chances of ever owning their own home is remote because of today's prices. Now, they are losing the roof over their heads, and cannot find affordable housing. They both work, but even with their two incomes combined they cannot afford rents of $750 to $900 a month.