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Millennials are already delaying home ownership because they can't afford a down payment or mortgage. Now research from Harvard's Joint Center for Housing Studies finds renting is becoming more expensive as well.

Half of American renters now pay more than 30% of their income toward housing, and some are paying more than 50% of their income to rent. How do Millennials cope? By turning basements into bedrooms, living with more roommates, or even housing with multiple sets of couples who each can take a bedroom and reduce rental costs.