The saying, “Home, sweet home” doesn't necessarily mean a mortgage payment these days.
Despite historically low home prices, Americans are renting in greater numbers than ever. Nationally, the trend reflects an unstable housing market while many are choosing to rent.
“The housing collapse certainly illustrated that homeownership isn’t always a ‘can’t miss’ investment and entails some disadvantages,” said Jim Lapides, public relations director for the National Multi-Housing Council. “We’re seeing long-term demographics that favor renting.”
The number of U.S. renter households grew by almost 4 million between 2005 and 2010. It is estimated that the number of renter households nationwide will increase by 360,000 to 470,000 annually over the next decade.
The majority no longer believe that a home purchase as a stable investment. That whole mentality has changed. People aren’t anticipating their home’s value will continue to increase like they used to. There’s a case for renting that wasn’t here five years ago.
A significant segment of renters are also young people who want to remain unfettered to a specific area or region.
About 76 million members of the Millennial Generation are entering the housing market primarily as renters.
If it fits your lifestyle, renting an apartment in Mooresville, NC is a good investment. Young people don’t want to be tied down. They’re at the beginning of their lives and they want to avoid the commitment and the cost of homeownership.
For information on renting at Abberly Green Apartment Homes, contact us.
Original article – Shreveport Times