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Newsweek
26-05-2025
- Business
- Newsweek
Rents Drop for Third Consecutive Year After 2022 Peak—Report
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. Rents across the U.S. have dropped significantly as affordability in many of America's big cities increased in 2025, according to a report from In April 2025, U.S. median rent dropped 1.7 percent year-over-year, for studio to 2-bedroom properties across the United States' 50 largest metropolitan areas. With a slow but steady decline, median rent is now $60, or 3.4 percent, less than the peak in August 2022. "The [COVID-19] pandemic took everyone in the real estate market by surprise, from landlords to property builders," Alex Beene, a financial literacy instructor for the University of Tennessee at Martin, told Newsweek. "The result was some major cities that saw a surge in new residents moving in didn't have enough housing to meet the demand, sending rents soaring. Now a few years removed, these same metro areas are now dealing with housing availability that more than meets demand and some residents who came during the pandemic returning to their former homes." Why It Matters Landlords often increase rent prices because of inflation and changing housing and rental markets. Last year, roughly one-quarter of American renters said they could no longer afford to pay their rent, according to an Intuit Credit Karma study. Last month's rent-to-income ratio was 23.4 percent for renters earning the typical household income, down from 24.7 percent in April 2024, said. An apartment building on January 31, 2025, in the borough of Brooklyn, New York City. An apartment building on January 31, 2025, in the borough of Brooklyn, New York City. Andrew Lichtenstein/Corbis via Getty Images What To Know The U.S. Department of Housing and Urban Development believes that renters and homeowners should be spending no more than 30 percent of their income on housing. Only five of the top 50 U.S. metros still have a ratio higher than 30 percent median household income, including New York, Los Angeles and Boston. Miami was the least affordable rental market in April, with a median rent for a typical studio to 2-bedroom unit 1.3 times higher than the estimated maximum. Oklahoma City, Austin, Columbus and Raleigh area metros had some of the most affordable rental ratios at less than 20 percent of income. Meanwhile, certain rental-unit sizes have seen bigger drops in prices than others. Studio apartments dropped $27 last month, compared to the same time last year. That's a 1.9 percent decline to $1,410. What People Are Saying Nationwide title and escrow expert Alan Chang told Newsweek: "Between planning, funding, permitting and building, establishing new multi-family rentals takes substantial time and energy that has finally caught up to demand from the 2020-21 spike in demand. Limited supplies of rentals caused an increased rent, now that the inventory finally met the demand levels, the cost of rent can start to normalize, making rentals more affordable in some areas." Kevin Thompson, the CEO of 9i Capital Group and the host of the 9innings podcast, told Newsweek: "Let's be clear, rent 'falling' is all relative. We're coming off a period of runaway inflation, triggered by the pandemic and the economic chaos that followed. Rents shot up too, and anytime that happens there's usually a pullback." "We've now seen 21 straight months of year-over-year rent declines across the 50 largest metros. Sounds good, right? But here's the catch, median rent is still only about $60 lower than the peak we saw back in August 2022. So yes, prices are cooling, but they're not exactly inexpensive." Michael Ryan, a finance expert and the founder of told Newsweek: "It's the first time in at least five years that rent feels manageable at 23 percent of median income. Down here, Miami's still brutal at 40 percent, but most markets? They're in this sweet spot where supply might have finally caught up with demand." What Happens Next It's likely rent prices will continue on a downward trajectory, and the Midwestern markets are leading the shift. "It's natural to see rents start to steadily decline in those markets, particularly in the Midwest, and thus bring the national average down from its highs," Beene said. However, because the progress is slow, Thompson said prices are likely to stay "sticky" and high. "Those expecting prices to return to pre-pandemic levels are mistaken, and this is the new world by which they live," Thompson said. "It is just going to take a larger portion of one's income to rent in this new environment, and as tariffs start to kick in, I would expect those prices to move higher as landlords recoup their insurance and maintenance cost."
Black America Web
24-05-2025
- Politics
- Black America Web
Harvard Fights Back Against Trump International Student Ban With Lawsuit
Source: Andrew Lichtenstein / Getty Following a move that has stunned the global academic community and sparked widespread legal and diplomatic outrage, Harvard University filed a lawsuit against the Trump administration after the Department of Homeland Security (DHS) revoked its ability to enroll international students under the F-1 visa program. The adverse decision impacts over 7,000 current students and scholars, many of whom contribute not only to Harvard's academic fabric but also to the broader U.S. innovation and research ecosystem. Harvard's response was swift and unapologetic. The university called the DHS decision an 'unlawful and unwarranted action' and a clear act of political retaliation for refusing to cede to government demands to reshape its curriculum and institutional governance. Harvard President Alan Garber reaffirmed the school's commitment to its international community, stating, 'Without its international students, Harvard is not Harvard.' This legal showdown isn't just about student visas. It's a flashpoint in a broader campaign by the Trump administration to reshape American higher education by coercing elite institutions into aligning with its ideological views. The administration's move also risks undermining the United States' standing as a global leader in education, research, and intellectual diplomacy. For decades, international students have been a cornerstone of the U.S. higher education system, bringing cultural diversity, fresh perspectives, and often, significant financial contributions. At Harvard alone, 27% of the student body hails from over 140 countries. These students often pay full tuition, rarely qualify for federal aid, and are deeply embedded in research labs and academic projects that fuel the nation's global competitiveness. Harvard's lawsuit accuses DHS of violating the First Amendment and the Due Process Clause of the U.S. Constitution. The suit states that the federal government is punishing the university for resisting its attempt to police academic ideology and student political activity, particularly protests the administration has labeled 'anti-American' or 'pro-terrorist.' DHS claims the ban stems from Harvard's 'failure to condemn antisemitism' and for allegedly creating an 'unsafe' environment for Jewish students. Yet Harvard contends it met all DHS requests for information and was given no opportunity to contest the revocation before it was imposed. Source: Boston Globe / Getty The potential damage is staggering. Harvard's research labs—already burdened by a freeze on $2.2 billion in federal funding—now face the prospect of losing critical contributors. The Medical School and School of Public Health have begun scaling back operations, a direct consequence of political interference. According to one professor, if this policy is enacted, 'many labs will empty out.' The implications reach far beyond Cambridge. If allowed to stand, the decision sets a dangerous precedent for how the federal government can weaponize immigration law to punish academic dissent. It's also a poor strategic move for the country; U.S. universities are one of its strongest soft power tools, attracting top minds from around the globe and fostering international goodwill. Alienating these students not only harms America's reputation but opens the door for other nations, like China, to swoop in and offer alternatives. Indeed, the backlash abroad has already begun. Chinese officials condemned the decision, with Foreign Ministry spokesperson Mao Ning warning that the move 'will only damage [America's] own image and international credibility.' China, which sends over 1,200 students to Harvard annually, sees the move as another escalation in an already tense bilateral relationship. Hong Kong University of Science and Technology even issued a public offer to affected Harvard students, promising a smooth transfer and full academic support. Meanwhile, student leaders and faculty on campus have rallied around their international peers. Harvard's chapter of the American Association of University Professors issued a blistering statement denouncing the move as 'an unconstitutional assault' on students and academia. Student government leaders like Abdullah Shahid Sial are actively working with the administration to support affected students, including exploring transfer options. The legal path forward is uncertain, but Harvard has made it clear that it will not capitulate to political pressure at the expense of its core values. This fight isn't just about visas—it's about the soul of American higher education. And as Harvard's lawsuit states plainly: 'With the stroke of a pen, the government has sought to erase a quarter of Harvard's student body.' The stakes could not be higher. SEE ALSO: NYU Withholds Diploma From Student Who Denounced Gaza War Malcolm X's Legacy Is The Blueprint For Black Self-Sufficiency SEE ALSO Harvard Fights Back Against Trump International Student Ban With Lawsuit was originally published on Black America Web Featured Video CLOSE
Black America Web
22-05-2025
- Politics
- Black America Web
Concerns Grow Over Removed Exhibits At NMAAHC AKA ‘The Blacksonian'
Source: Andrew Lichtenstein / Getty Amidst President Trump's flurry of executive orders targeting civil rights and Black history, concerns are growing over exhibits being rotated out at the Smithsonian's National Museum of African American History and Culture (NMAAHC). According to NBC News, certain artifacts and exhibits detailing the history of slavery and the civil rights movement are being rotated out of NMAAHC amid a potential review by the White House. In March, President Trump signed the 'Restoring Truth and Sanity to American History,' executive order that, among many other things, requires museums to remove exhibits that showcase 'improper ideology.' Of course, 'improper ideology' is simply code for 'any piece of American history that makes white people feel uncomfortable and/or reminds them of the horrors this country was built on.' But I get it, 'improper ideology' is less of a mouthful. From NBC News: NBC News went inside the museum and found at least 32 artifacts that were once on display have been removed. They include Harriet Tubman's book of hymns filled with gospels that she is believed to have sung as she led enslaved people to freedom through the underground railroad, as well as a cloth made by enslaved people and a photo of the hip-hop group Public Enemy. Also removed was the 'Narrative of the Life of Frederick Douglass,' the memoir by one of the most important leaders in the abolition movement. Both items were gifted to the Smithsonian. Both the White House and NMAAHC have pushed back against the idea that these removals were a result of the executive order. White House spokesperson Lindsey Halligan issued a statement saying, 'The White House had no involvement in removing any exhibit from the National Museum of African American History and Culture or any other Smithsonian institution. They did this on their own accord.' Additionally, the NMAAHC has also issued a statement on their website saying that 'recent claims that objects have been removed for reasons other than adherence to standard loan agreements or museum practices are false.' Source: The Washington Post / Getty I'd love to sit here and say, 'Well, that's that. This is a completely innocent, not at all suspect move by the museum.' Though when one considers that the former director of the NMAAHC left as a result of the Executive Order, and that both Chief Justice John Roberts and Vice President J.D Vance sit on the Smithsonian's Board of Regents, it doesn't entirely pass muster. Those who loaned the items to the NMAAHC also aren't entirely convinced that their return wasn't politically motivated. From NBC News: Liz Brazelton, the owner of a diary connected to the Oscar-winning film '12 Years a Slave,' isn't convinced either. She's the great-great-granddaughter of the lawyer who helped free Solomon Northup, a free Black man who was kidnapped and forced into slavery… …she gave one of her great-great-grandfather's diaries to the museum in September 2015 on a 10-year loan. The museum sent her a letter in March, before the end of the term, saying, 'We have decided to move ahead with the return a bit early to coincide with our internal gallery rotation schedule.' The letter was sent two weeks before Trump signed the executive order targeting exhibits at the Smithsonian, which raised a red flag for Brazelton. The removal of these items from the NMAAHC comes as the Trump administration has repeatedly made attacks on free speech, DEI initiatives, and Black History. In April, the National Park Service came under scrutiny after it removed the story of Harriet Tubman and the Underground Railroad from several exhibits. They eventually restored the exhibits after national outcry, but the fact that they even had the audacity to try it should tell you everything about where this administration's priorities lie. As a result of the executive order and leadership changes at the NMAAHC, the museum was the site of the #HandsOffOurHistory rally earlier this month. The executive order, along with other moves by the Trump Administration, also spurred legislation from Democratic lawmakers to protect civil rights landmarks on the national register from being sold (because, of course, the Trump administration tried to do that). While it's clear the Trump administration won't stop coming for our history, the grassroots efforts by community leaders and select politicians have proven that they'll damn sure have to fight for it. SEE ALSO: Racial Bias: Audit Finds 36 In-Custody Deaths Should Be Labeled Homicides This Was Supposed To Be A Review Of 'Forever,' But It's Not SEE ALSO Concerns Grow Over Removed Exhibits At NMAAHC AKA 'The Blacksonian' was originally published on Black America Web Featured Video CLOSE
