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Divide between homeowners and renters is growing
Divide between homeowners and renters is growing

For homeowners in Southern California, the housing recovery has been pretty kind. For renters, not so much. New figures highlight the growing gap between owners and renters in the Southland: Many homeowners are capitalizing on low interest rates to push down their monthly payment while renters are shelling out larger shares of their income to stay afloat. And the ranks of renters are growing. The data, released Thursday by the Census Bureau, show that the median monthly mortgage payment for a homeowner in metro Los Angeles — L.A. and Orange counties — was $2,241 last year. Adjusted for inflation, that figure has fallen 17.7% since 2007. And the share of homeowners...