More newlyweds move in with their families to save money, and visa requests are up at foreign embassies.
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The Trump administration says the sanctions aim to get Tehran to renegotiate the nuclear deal, which offered sanctions relief in exchange for curbs on Iran's nuclear program.The official inflation rate has risen to 35 percent, up from 23.8 percent in the March 2018 to March 2019 period.Property owners are reluctant to sell and landlords are sharply raising rents because of the currency collapse, said Ali Dadpay, a finance professor at the University of Dallas. He said an estimated 490,000 homes stood empty in and around the capital, including more than 40,000 units added this year.At the same time, construction lags far behind the need of 1.2 million new homes a year nationwide, said Hesam Oghabaei, deputy head of the Tehran association of real estate agents.He said about 25 percent of Tehran's residents lived in rented apartments, and the vast majority could not afford the price increases.The Peyman family -- elderly parents and eight adult children -- own a 110 square meter apartment in Tehran's District 12, a poor area plagued by drug addiction and other social problems.The U.S. sanctions have proved particularly devastating for Iran's large middle class, said Dadpay, the finance professor.
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