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After years of volatility, the U.S. rental market is settling into something closer to equilibrium. Nationally, rent growth has slowed to near zero, vacancy has risen, and the intense competition of the pandemic era has eased. But normalization does not mean uniform relief, and it certainly does not mean the rental market has turned easy.

The Philadelphia City Council has advanced a proposal to create PhillySaves, a city-sponsored automated retirement savings program designed to reach private sector workers whose employers do not offer retirement benefits. City officials said the initiative aims to expand access to retirement savings while placing minimal administrative burdens on employers. Under legislation approved by the council,