The cost of insurance is rising for property owners in the rental housing industry. While this has typically been seen in locations with potentially higher claims such as Florida, Texas and California, the rise of insurance has been felt across the country.
The New York Times looks at the impacts of this in, "Soaring Insurance Costs Could ‘End’ Affordable Housing, Developers Warn."
One owner says she was forced to sell a portion of her 14-building, over 1,000 low-rent unit portfolio due to the rise in insurance costs.
The article follows nonprofit developers as well searching for solutions to continue supplying quality housing.
Read more from The New York Times.