A recent report shows that while rental costs for new grads in the Bay Area are softening, they still face significant financial challenges in the housing market.
According to Harvard's report, new apartment construction increased by 22% last year, contributing to the cooling rental market in the Bay Area.
Despite a slight decrease in rent burden for new graduates, expert Bordo cautioned that true affordability is still a distant goal for many in the region.
As housing demand declines due to relocations, fewer renters are forming households, which, along with additional housing supply, leads to softened rental prices.
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